Australian KUTh Energy providing details about its current activities
Australian KUTh Energy Limited provides details about activities in the past quarter, including project news on Tasmania, Vanuatu, Fiji, Papua New Guinea and recently secured leases in North Queensland.
In its recent activities report as part of quarterly reporting, Australian KUTh Energy Limited provides details about its current field operations.
According to the report, “In Tasmania, KUTh energy’s attention during the quarter focussed on the return of results from its recent Magnetotelluric (MT) survey and the interpretation of aeromagnetic survey data both of which were completed over the main target drilling location. Together with KUTh’s heat flow data these results indicate the presence of a Naturally Fractured Hot Rock play within the area of the Charlton-Lemont resource (previously identified by KUTh; see resource statement released 14 July 2009). This is an important discovery for KUTh and may offer the potential for existing fluid flow in the target drilling zone.
During the quarter the company also stepped up its activities at its conventional geothermal prospect in Vanuatu with the successful completion of a Magnetotelluric survey.
The company also announces the granting of two new geothermal tenements in North Queensland, EPG 7 and EPG 9 as of 1 January 2010. Work will now commence on the detailed data compilation and analysis required for the planning of reconaissance exploration programs on these tenements.
KUTh Energy’s 100% subsidiary, KUTh Exploration (Fiji) Limited, has three tenement applications pending approval. The Company is in communication with the Mining Department in Fiji in a bid to resolve any issues related to the possible granting of these licenses. KUTh is currently awaiting a response to its last correspondence with the Fiji Mines department.
There has been no further movement on the license application for Papua New Guinea during the quarter . The long running dispute between the empowering authority to issue Geothermal Licenses remains unsettled from advice we have received from the Mining Advisory Council. As a result until we have a clear position in this area these license applications are on hold.”
Source: Company release via e-mail.