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mongoose

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In reply to: juke on Saturday 04/03/06 02:19am

There are afew items I located via Google re the PM's trip to India which give an insight at least into the nature of what it's about. Nothing specific re GDY that I've seen per se.

It looks like the govt. is dipping a big toe in the water to increase the levels of trade generally.

It is apparent that with India's growth, resources will be in even greater demand but also 'energy' is of course a growing high demand item in all it's forms.

It seems GDY's Bertus de Graff has been included in a select group of 'energy chiefs' which is particularly interesting to GDY followers though the specific reasons are not mentioned in what I have read to date. Here is a brief excerpt from one item.

 

Australia's ties with India will take another step forward next month when Prime Minister John Howard heads a delegation of business leaders that will include Thiess chief executive Roger Trundle, Santos managing director John Ellis-Flint, trucking magnate Lindsay Fox, Qantas chief financial officer Peter Gregg, ANZ Bank and gas company Woodside chairman Charles Goode, BHP Billiton iron ore chief Bob Kirkby, Macquarie Bank executive Warwick Smith and senior executives from Rio Tinto and Woolworths.

 

If you want to read more go to Google and search "Prime Minister Howard's visit to India."

 

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A little article from the Sun Hearld

Could be more acurate though>

 

Hot rocks on the cards

Mandi Zonneveldt

13mar06

 

VICTORIA is preparing for a new wave of mining investment, with the state set to offer exploration permits for "hot rocks" next month.

 

Prompted by increasing interest in green energy, the State Government is preparing to take bids for exploration acreage right across the state.

It is understood several companies have already met with the Department of Primary Industries, excited about Victoria's potential for hot rocks.

 

Some companies have expressed interest in developing large-scale electricity generation projects if a source of energy can be found.

 

Evidence of the state's hot rocks potential exists in Portland, where the local council uses geothermal energy to heat the town's swimming pool.

 

Hot rocks have become fashionable with rising concern about the effect of greenhouse gases on the environment.

 

Water pumped into the rocks, found kilometres below the earth's surfaced, can be super-heated to create steam for clean energy generation.

 

A number of small, listed companies are already having success with hot rocks projects in other states.

 

Queensland's Geodynamics is the most advanced explorer and is considering constructing a demonstration plant after successful drilling in the Cooper Basin.

 

Petratherm is preparing to drill to a depth of 1.5km at its project in South Australia's Flinders Ranges, after promising results last year.

 

Pacific Hydro, which was taken over last year by Industry Funds Management, and the soon-to-be listed Snowy Hydro are also believed to be interested in geothermal energy.

 

The release of geothermal acreage in Victoria follows changes to state legislation that will give explorers more certainty in their investment.

 

Energy Minister Theo Theophanous said the government was keen to explore ways of generating electricity that were both cheap to operate and environmentally friendly.

 

"Electricity generation from geothermal heat is an exciting prospect and we are keen to work with companies to find out whether this new technology can be introduced into the Victorian electricity market," he said

 

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I guess at times of frantic resource activity the world over, one can expect delays of an extra few days.

 

It is an interesting idea that perhaps the bridge plug could be knocked down to a lower level. I'm sure they will be very gentle! If so, is it the only thing that is impeding fluid flow, or has heavy drilling mud set solid in the rock pores? Since the snubbing unit avoids the use of bridge plug or drilling mud management must be kicking themselves for not having used this at the outset. This is all excellent experience for the next 500 wells.

 

Juke

 

 

GEODYNAMICS

ASX ANNOUNCEMENT 13 MARCH 2006

 

Habanero #2 ÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã‚¡ÃƒÆ’‚¬Ãƒâ€Â¦ÃƒÆ’¢Ã¢Ã¢â‚¬Å¡Ã‚¬Ãƒâ€¦Ã¢â‚¬Å“ Well Intervention

 

Geodynamics is pleased to announce that the Habanero #2 well intervention programme using a snubbing unit is in full progress. The spud date was 10 March, 2006, some five days later than expected due to the late arrival of the contractorÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s supervisors from a job in Baku, Azerbaijan.

The objective of the intervention is to restore the connection with the previously developed underground heat exchanger.

The well intervention is being carried out fully underbalanced using only water. The overpressure control equipment is operating according to plan. At the time of writing, the drill bit is close to entering the original side track at 12,704ft (3,872m) to determine the actual depth of the dropped plug and to find out whether the plug can be pushed below the fractured zone, which is part of the underground reservoir. If this is not readily achieved, a new 500m side track (1,640ft) will be drilled from 3,852m to 4,352m (12,640ft to 14,280ft).

An update on progress is scheduled for release on 20 March, 2006

 

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Apparently Geothermal Resources is now due for listing on 21st March. Perhaps I was the only one unaware of the delay. It is interesting that their primary target, the Frome Project, is a reasonably "small" intense hotspot isolated from the more usual extended areas of geothermal heat fields. They have clearly done significant geological work to identify their prospects. However in the risks chapter of the prospectus it is bluntly stated (7.11) that, "The Company has no history of exploring for geothermal energy, or developing or extracting such energy". It is a bit puzzling that no compensating effort has been made to even promote the expertise of their staff. (I don't hold GHT. Prefer to stick with the innovators, but we must know what else is going on.)

 

Re Mongoose's posted article: Victoria's desire to find HFR energy is very understandable. Their prospects might be somewhat limited although a bright hotspot does exist around the Hamilton area. Hot water oozing out of the ground at Portland is not actually an indication of suitable HFR conditions. If anything, it might demonstrate the reverse, i.e. heat may have been leaking out for yonks because of vertical fractures.

 

Juke

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  • 4 weeks later...

Looks as if something is up !!

 

With 20 minutes to go to the open the first 15 on the buy side exceeds the first 15 on the sell side. If they hold then the opening price should be around 182c, or about 12% increase on last nights's close. Volumes are also up on recent trading.

 

Wonder when the announcement will be made ?

 

Will continue to hold and bide my time.

 

Best wishes,

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