GEOTHERMAL HOT ROCK BREAKTHROUGH IN WELL SUCCESS
There should be great excitement in the Geodynamics (GDY) camp
following a major breakthrough with the first HFR (hot fractured rocks)
geothermal flow in Australia.
Chairman Dr Bertus de Graaf has told shareholders that like never
before, global attention is focused on burgeoning demand for electricity
and the unsustainable increase in fossil fuel power generation with
alarming growth in greenhouse gas emissions.
Energy analysts believe the potential in the hot rocks source
seems limitless and is an emerging clear alternative to oil.
The company last week disclosed that the Habanero-2 well flowed
for 40 hours continuously at a controlled flow rate of up to 15kg/sec.
Geodynamics reported that the clean-up flow and commissioning
tests in preparation for the Diagnostic Flow Test have been completed
with great success.
Geothermal brine temperatures reached 198.5 degrees celsius,
which is in line with modelling studies (flow rate and time).
Higher temperatures will be reached during the two-week
Diagnostic Flow Test, now scheduled to start early next week.
Massive amounts of steam and hot brine were released from the
overpressured reservoir, with noise levels approaching 120 decibels
(similar to that of a jet engine).
Habanero-2 produced up to 10MW thermal power during the test.
The completed test has confirmed that the highly overpressured
target hot granites of the Cooper Basin have the potential for generating large scale, zero emission power.
As such, the Geodynamics team is looking forward to the next
steps in the testing program.
Geodynamics Ltd is a company exploring Hot Dry Rock Geothermal
Energy.
In Australia, unlimited sources of energy are stored in high
heat-producing granites.
HDR geothermal processes have the potential to tap this energy
and place Australia in a unique position.
Geodynamics has two HDR geothermal tenements in the Hunter
Valley in New South Wales and two in South Australia's Cooper Basin.
It aims to be the largest renewable energy producer in Australia
by developing base load electricity generation from geothermal sources.
The company has already completed a successful "Stage One"
hydraulic stimulation phase of its Cooper Basin hot rock geothermal
electricity project.
The company said results exceeded all expectations.
Total volume of target hot granites hydraulically stimulated
(stimulations 1 and 2) is four times larger than expected (0.7 cubic
kilometres actual vs 0.15 cubic kilometres expected).
Temperatures of 250 degrees have been confirmed at depths of
4,400 metres in the target granites.
The company is one step closer to achieving its goal, namely the
economic extraction of heat from the known hot granites.
As a consequence, it says the achievements to date have
significantly reduced the overall risk of the Cooper Basin hot rock
geothermal project.
Geodynamics also announced settlement of its acquisition of
Kalina Cycle power generation technology with the payment of $3 million
and the issue of 3 million shares to Recurrent Resources LLC.
The Kalina Cycle Technology is a proven, established and patented
process.
It is a thermodynamics cycle which substantially improves the
efficiency of conversion of heat to power for generation of electricity.
Geodynamics has acquired exclusive technology transfer rights to
KCT in Australia and New Zealand, and is a non-exclusive sub-licensee for all other countries.
To realise the opportunities for licensing of, building and
equity participation in KCT generating plants, a new division has been
formed, known as Geodynamics Power Systems. |
