Greenearth with positive heat flow results on project sites in Victoria
Greenearth Energy announced that it “has significant results from heat flow investigations in its Geothermal Exploration Permits areas 12 and 13 in the Latrobe Valley area of Gippsland, Victoria.
Reported in Australia, Greenearth Energy (ASX:GER) announced that it “has significant results from heat flow investigations in its Geothermal Exploration Permits areas 12 and 13 in the Latrobe Valley area of Gippsland, Victoria.
The results confirmed that there is a trend of elevated heat flow through the Latrobe Valley from Moe towards Sale.
The heat flow investigation, across 10 wells, returned estimates ranging up to 101 plus or minus 26 mW/m2.
Such values are significantly higher than the 60 mW/m2 that is regarded as the global average for heat flow, which confirms the high level of prospectivity throughout major areas of both Greenearth Energy’s Gippsland geothermal exploration permits.
One of the most significant temperature projections is that of the Petroleum Well Loy Yang 2, situated within the grounds of the Loy Yang A brown coal fired power station.
Due to the strategic alliance with Lakes Oil (ASX:LK0) Greenearth Energy was able to gain access and complete precision temperature logging to a depth of 713m.
“This modelling shows excellent temperatures at around 3km beneath the Latrobe Valley,” managing director Mark Miller said.
“… The Loy Yang 2 Well has established high heat flows in the heart of the industrial power generation hub of Victoria.
“This area is adjacent to major electricity generation and transmission facilities and further underpins the company’s view of the significant geothermal potential of the Latrobe Valley area.
“Additionally we believe these units have the potential for further investigation in terms of their ability to act as onshore CO2 storage sites at the point of generation.
“The potential to generate emissions free base-load renewable electricity, heat for industrial processes as well as onshore CO2 geo-sequestration at the point of generation represents a unique opportunity for the state that requires a collaborative approach to funding for research and ultimately development.”
Source: iStockAnalyst