Australian Greenearth Energy with new study on project in Victoria
Greenearth Energy holds the rights to explore the Geelong region and has conducted tests in Anglesea and the Bellarine Peninsula, which now proves to be quite promising.
As reported today, Australian “geothermal exploration company Greenearth Energy holds the rights to explore the Geelong region and has conducted tests in Anglesea and the Bellarine Peninsula.” These tests so the article provide a confirmation of the region being a hot spot for geothermal power development.
“Consultant firm Hot Dry Rocks P/L, which is conducting a study for Greenearth, has confirmed a target resource temperature of 170C at the modest depth of 3450 metres.
The study found that at an assumed rate flow of 100 litres per second, there should be sufficient heat flow to build an operating geothermal power plant.
Greenearth Energy marketing manager Mark Miller said the company was pleased to have the “roadmap” study from Hot Dry Rocks.
“If further drilling continues to confirm the positive geothermal characteristics of the site chosen for a future geothermal power station, then we are very excited about the plans for a future geothermal power plant in the permit, in close proximity to major industrial and urban centres in the Geelong area,” Mr Miller said.
“It is good to know that given the presence of the large inferred geothermal resource in the permit, the modelling shows a positive opportunity and way forward for the development of several exciting geothermal prospects in the Geelong area.”
Greenearth, which is a joint venture between Melbourne-based petroleum firm Lakes Oil and the Perth-based Victoria Petroleum, raised more than $10 million for its February listing on the stock exchange.
In October last year, company chairman Simon R Molesworth told an environmental conference that Victoria could supersede South Australia’s Cooper Basin as a geothermal hot spot.”
Source: Gee Long Advertiser