| Coalition promise to Petratherm and KUTh |
|
|
|
| Tuesday, 20 November 2007 | |
|
On Tuesday 20th, Petratherm Ltd stopped the presses (and trading) prior to releasing the astonishing news that the Federal Coalition had promised $50m specifically to PTR “to accelerate the commercialisation of Petratherm’s Paralana Geothermal Energy Project in South Australia.” This promise was apparently made in “recognition that the Paralana Project represents the most commercially advanced geothermal project in Australia.” Like all election promises, however, the ultimate deliverability depended on the outcome of the Nov 24 election. PTR’s Tuesday 20th announcement was associated with the Federal Coalition’s “Clean Energy Plan for Australia.” As well as the PTR commitment, the Plan also promised $5m for KUTh Energy to undertake geothermal resource mapping in Tasmania, and $20m over four years towards a National Research Institute for Geothermal Energy. |
| < Prev | Next > |
|---|
Login
Newsflash
|
Torrens Energy enters agreement with GulfX Ltd
Torrens Energy Ltd on Monday the 10th of March announced that it has entered into a cooperative exploration agreement with coal explorer GulfX Ltd. The deal will see the two companies sharing costs for things like permitting approval, and sharing geological information. The deal covers an area at the top of St Vincent’s Gulf in South Australia, where both companies are planning drilling programs. |
Latest News
Copyright © 2005 - 2008 Hot Dry Rocks Pty Ltd