| New deal between Geodynamics and Origin |
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| Monday, 29 October 2007 | |
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A major new deal was announced on Monday 29th between Geodynamics and Origin Energy. Origin, which already holds 10% of GDY, will take a 30% stake in GDY’s South Australian tenements and a 30% stake in GDY’s new Lightning drill rig. This is a major development for GDY and more proof of the growing interest of the petroleum sector in geothermal energy. |
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Newsflash
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Final Heat Flows are highest reported values from geothermal drilling on the electricity grid in Australia Torrens Energy Limited announced on the 15th of May the return of the final results for Parachilna Prospect in South Australia. The final heat flows recorded from drill holes Balrog 1 and Gandalf 1 were 95 and 85mW/m2 respectively, with projected temperatures of 234°C at 5km. The results to date define the prospect as having the highest reported heat flow values from geothermal drilling on the electricity grid in Australia. Anomalous modelled temperatures highlight the potential for a large new "geothermal field" to be established north of Port Augusta For more information see the asx announcement |
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