Greenpower Energy abandones Mount Ridley project in Western Australia
Esperance, West Australia (source: flickr/ Don Pugh Perth Western Australia, creative commons)
Alexander Richter
15 Nov 2013
Following discouraging results from early exploration drilling, Greenpower Energy has now decided to abandon its Mount Ridley geothermal EGS project in Western Australia and return the exploration permits back to the state.
Reported this morning from Australia, listed developer Greenpower Energy Limited (ASX: GPP) has announced that its will not pursue its geothermal energy exploration project at its Mount Ridley site near Esperance in Western Australia.
The company had earlier secured a co-funded drilling grant for the project through royalties for the region’s exploration incentive scheme.
Earlier this year the company started some early drilling work to test granite for EGS potential on the site.
But now the company announced in a quarterly update report to the Western Australian Department of Minerals and Petroleum that it has decided to stop the project and give the permits back. The company reports that the drilling and the down hole failed to confirm the results hoped to make this project viable.
Greenpower chief executive officer John Watts said it was disappointing that the project could not continue as there was no sufficient encouragement for further exploration on site.
Source: Esperance Express
