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Panax Application Accepted |
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Wednesday, 21 January 2009 |
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Panax Geothermal has announced that its application for $7m from the GDP has been accepted and will now proceed to full merit assessment. The application covers PAX’s Limestone Coast Penola Trough play, targeting hot sedimentary aquifers. In a second statement on the same day, PAX announced an Inferred Resource estimate for the Penola Trough play, with stored heat of 41,000 PJ. The announcement indicates that if only 5% of the Inferred Resource can be recovered, that is sufficient energy to run a 200 MWe geothermal power plant for 30 years.
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