Mapping geothermal gradients underway in Western Australia
Strike Energy has concluded the acquisition of Mid West Geothermal Power and moves ahead on early studies on geothermal prospects in Western Australia.
Australian oil and gas exploration company Strike Energy Limited (Strike – ASX: STX) announces having executed the full form binding documentation for the acquisition of Mid West Geothermal Power Pty Ltd. Details of the transaction as released in an announcement to the Australian Stock Exchange (ASX) were published in April 2021. “Strike moves to become first integrated gas producer, manufacturer and renewable energy supplier in WA”.
Currently a heat needle survey is underway, mapping geothermal surface gradients in various Perth Basin locations. This information along with the other key subsurface and well engineering inputs Strike already has to hand will be compiled to start a detailed mapping process to identify geothermal ‘sweet spots’ where the economics are most favourable to deploy a geothermal pilot test. It is expected that this process will take approximately one year to complete in parallel with the Strike’s other endeavours.
Separately the development team are beginning to evaluate the best way to integrate both the heat and the ‘hot water’ resource of the geothermal asset to enhance the proposed urea and green hydrogen manufacturing operations of Project Haber. Both processes require access to, and are far more efficient with, the use of hot water.
Source: Company ASX release