Hot Rock Ltd.’s new well at Penola Trough promising and Radio Interview
Alexander Richter
2 Jun 2009
Australian Hot Rock Ltd. has discovered a new geothermal well in its newly-granted GEP23 Permit area in the Otway Basin, Victoria, after reviewing recently released petroleum well results and gives further company updates in a recent radio interview.
Reported in Australia, “Hot Rock Limited (HRL) has discovered a new geothermal well in its newly-granted GEP23 Permit area in the Otway Basin, Victoria, after reviewing recently released petroleum well results.
Test results indicate that the new well, called the Penola Trough, is capable of containing hot water at temperatures greater than 140oC, which is suitable for the operation of a geothermal binary cycle power plant.
The new discovery provides the directors of HRL with the confidence that significant geothermal development potential exists in this area, according to a release from the company to the ASX.
“HRL is currently carrying out extensive geological modelling and interpretation of data, including that from the largest MT (magneto-telluric) geothermal survey in Australia, for its first flagship geothermal project at Koroit in the Otway Basin, within permit GEP8.
“HRL will build on this current experience and expertise to carry out further detailed geological modelling and a comprehensive MT survey around the most prospective area in GEP 23 in 2009,” the announcement said.
“This information will be used to optimise the selection of an appropriate appraisal well site for the purpose of testing the temperature and permeability characteristics of the geothermal reservoir for power production.”
Additional the Management Director of the company, Mark Elliott, gave a radio interview, which can be found on The Australian Business with the Wall Street Journal – website here. In the interview the company provides details on the recent fund raising for its Koroit project and further project news.
Source: Pace Today (Australia)
