Proactiveinvestors recommends

Additional Information

Market:	ASX
Sector:	Alternative Energy
EPIC:	PTR
Latest Price:	0.05 (0.00%)
52-week High:	0.19
52-week Low:	0.05
Market Cap:	6.67M

1 year chart

1 day chart

Petratherm

Petratherm (ASX: PTR) aims to develop a portfolio of quality geothermal energy projects using both conventional and engineered geothermal systems (EGS) for power and heat.

Petratherm upgrades Paralana Geothermal Resource to Indicated and Measured categories

Friday, November 25, 2011 by Christine Feary

Petratherm (ASX: PTR) has increased resource confidence at the Paralana Geothermal Joint Venture Project in South Australia, with close to half of the initial Inferred Resource now in the Indicated and Measured categories.

An updated Independent Resource Statement from Hot Dry Rocks places the total Paralana Resource at 38,000 petajoules (PJ), with 20,000PJ Inferred, 18,000PJ Indicated and 41PJ Measured.

The Measured Resource of 41PH has the potential to sustain 5.4 megawatt electrical (MWe) of power production for 30 years.

At the target zone for initial development, 3,500-4,000 metres depth, total Resources are 9,300PJ, sufficient to generate 1,300MW of power generation over 30 years.

This would provide the energy potential for Petratherm’s long-term ambition of generating 520MWe.

Paralana is a joint project between Petratherm, Beach Energy (ASX: BPT) and TRUenergy.

Earlier this year the Federal Government allocated a $7 million Geothermal Drilling Program grant for the project from the Australian Centre for Renewable Energy.

Petratherm plans to commission the first stage of a 3.75MW power plant at Paralana in 2012.

No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.