Panax Geothermal Ltd was pleased to announce that it “has secured a contract drilling rig for its first deep appraisal well (Salamander 1) in the Limestone Coast Geothermal Project.” The 2000 horsepower ‘Lightning Rig’ (a la GDY’s rig) will be imported and operated by Weatherford Drilling International.

PAX has secured second place in the drilling program for the rig and drilling is anticipated to commence in April/May 2009.