News

Icon Energy granted exploration permits in Queensland, Australia

Icon Energy drilling rig on gas exploration project site, Australia (source: Icon Energy)
Alexander Richter 30 Jul 2010

Australian Icon Energy has been granted two geothermal exploration permits in Queensland, called NappaMerri 1 and 2.

In a release by the company, Australian “Icon Energy (ASX: ICN) has reported that the Queensland Minister for Mines and Energy, the Hon. Stephen Robertson MP, has granted geothermal exploration permits EPG 49 & EPG 51 to Icon Energy, effective from 1 August 2010.

The area consists of NappaMerri 1 and NappaMerri 2 and the tenements are located beneath ATP 855P which is located on the eastern side of the Queensland and South Australian border.

Ray James, managing director, said the drilling program for NappaMerri 1 and NappaMerri 2 will be strategically aligned with the drilling program in ATP 855P to allow for cost savings and efficiencies.

Icon Energy is the operator for the new geothermal exploration permits and has 100% working interests in both permits.

The Minister has approved initial work programs for EPG 49 and EPG 51 including geological and geophysical studies, gravity surveys, seismic acquisition and the drilling of wells during the first five year periods of the permits.

The term of the exploration geothermal permits is 5 years until 31 July 2015.”

Source: company release via Proactive Investors