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Geodynamics to see immediate synergies in 2014 with KUTh merger

Drilling crew preparing for spudding of Habanero 4, Australia (source: Geodynamics)
Alexander Richter 16 Dec 2013

Describing immediate synergies in project development in the Pacific for its project in the Solomon Islands and Vanuatu, Geoff Ward, CEO of Geodynamics, expects that drilling will start at both projects in 2014.

In an interview following the announcement of having successfully secured more than 90% of the shares in fellow Australian developer KUTh Energy, Geodynamics gives an indication of expected key milestones for the coming years.

Geoff Ward, CEO and Managing Director of Geodynamics, reports that there are immediate synergies for project development by Geodynamics now that it has secured a majority in KUTh Energy.

Through its project on Savo Island, Solomon Islands (Geodynamics) and the location of KUTh Energy’s project in Vanuato, the company will be able to share a drilling rig, drilling design and additional work elements for both project helping to spread cost and streamline development.

The company expects to start drilling in 2014 already after securing drilling rights with the local government in the Solomon Islands and securing land access to start exploration drilling in Vanuatu.

For its Cooper Basin project in Australia, Geodynamics is currently talking with potential commercial customers of heat and power from a commercial operation at its project. Geodynamics has now successfully installed and operated a 1 MW pilot plant on site.

Source: Geodynamics interview via BRR Media