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theflasherman

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I reckon PAX is a steal at current market cap, if it proves it's concepts it could end up contributing a lot to Adelaide's power grid
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Mucho Grazias Triage, A quiet Monday mornings read confirming some things and adding to the knowledge base. Incredible amounts of energy to be had by the right technologies that can harness them / GDY with its setback is, we suppose, a learning curve & we can see that dealing with heat and rock and distance and holes and fractures is a difficult technological feat. much to overcome and great rewards for those who achieve it. rewards for the environment & rewards for those who invest in the successfuls along the way. Good Luck to them all.
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I follow most of the Geothermals and own a few. Like you graham I bought GRK because I thought that they had good potential being so close to Olympic Dam, Desalination in the Spencer Gulf and the conventional Patchwarra trough and Hungary projects. However, I have been disappointed in the lack of progress.

 

I have traded GDY in the past; I couldnÃÆâ€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’‚¢t get over the distance they have to transmit the power. Big capital cost and big transmission losses. I thought perhaps the Government could contribute to the cost of building the power lines.

 

What I have learnt over the years is that there is heaps of risk associated with Geothermal projects. Apart from the obvious technical challenges there are also economic challenges. Without carbon trading, Geothermal power generation may not be economically viable.

 

 

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PAX will really move when they start drilling, it might even do a move up before they move the drill on something else?
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Rig arrival signals start of drilling for key geothermal energy project

Geothermal energy developer Petratherm is on track to commence drilling at its flagship Paralana Joint Venture project in South AustraliaÃÆâ€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 Far North next month following the arrival of a state-of-the-art drilling rig from Dubai today.

The Paralana JV comprises Petratherm, Beach Petroleum and TRUenergy Geothermal.

The custom-made 2000hp Weatherford "Lightning" Rig arrived at Port Pirie late yesterday and will be transported to site this week where it will be used by Petratherm to spud its Paralana 2 deep well in mid-June.

The Paralana JV plans to use the rig to drill 4km below the earthÃÆâ€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 surface creating a deep injection well that, in tandem with a soon-to-be-drilled second well, will establish an underground "heat exchanger" capable of circulating super-heated water by early 2010.

Petratherm Managing Director Terry Kallis said the arrival of the cutting-edge drilling rig is a major milestone for the company and the wider geothermal energy sector.

"We believe our Paralana JV project is the best commercial geothermal energy project in Australia," said Mr Kallis.

"The arrival of the rig is not only great news for Petratherm, but also for other geothermal energy developers across Australia who will subsequently have access to it after weÃÆâ€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’‚¢ve completed our initial drilling."

Mr Kallis said he was excited about the commencement of major drilling next month.

Cheers.

 

 

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Thanks Mr P

There is also a new Investor Presentation at the website - issued yesterday, June 9th.

 

The timesheet doesn't seem to leave much of a window for the likes of PAX to drill deep holes.

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Yes I think so. The danger being the possibility of damage / incidents at the Paralana[?] site. It seems that drilling deep deep holes is cursed with unforseen danger. It is a big task for machines and workers. Cheers G
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The linked article contains a short video explaining, in very basic terms, the process used in the standard wet rocks geothermal operations. Also the article has a bit about the pollutants to be found in geothermal processes. I notice that there is no mention of radioactive materials that can be extracted though. (if Geodynamics keep having trouble drilling holes maybe they should get in contact with the German outfit that runs the website...).

 

To the best of my knowledge most geothermal projects in Australia are looking to use hot rock technology. Are there any others besides Panax that intend to use the type of system described in the video clip?

 

http://geothermania.blogactiv.eu/geotherma...rgy_2009_06_08/

 

Also here is a handy source of geothermal news. Cursor down a fair way.

 

http://www.greenstockinvesting.com/

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