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Additional Information

Market:	ASX
Sector:	Alternative Energy
EPIC:	PAX
Latest Price:	0.01 (0.00%)
52-week High:	0.03
52-week Low:	0.01
Market Cap:	4.11M

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Panax Geothermal

Panax Geothermal (ASX: PAX)has near term geothermal projects in Indonesia and is also pioneering conventional geothermal technology in Australia along with projects in India.

Panax Geothermal achieves temperature of 171.4°C in Salamander-1 well

Thursday, May 13, 2010

Following the steam produced at the Salamander-1 well in South Australia in April, Panax Geothermal (ASX: PAX), Panax has today reported a bottom hole temperature of 171.4°C was recorded in the well at a depth of 4,000m.

The new temperature is significant as it is well above the projected temperature of 160°C and 15 degrees hotter than previously reported.

As importantly, increased geothermal temperatures in the target reservoir rocks "have a highly positive effect on the overall economics of the Penola Project."

The new bottom hole temperature was measured earlier today, managing director Bertus de Graaf said, during well logging, conducted as part of the well clean-up flow operations.

De Graaf said it was too early to draw any specific conclusions from the result.

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