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EARTH HEAT RESOURCES LTD - ASX: EHR
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Description
Earth Heat is a New Energy Company listed on the Australian Stock Exchange (ASX:EHR), that is focussed on the acquisition and development of green assets for electricity generation and sale. The portfolio of the Company mainly comprises approximately 180MW of operated geothermal developments worldwide, with its cornerstone assets in Djibouti and in Argentina.
In Djibouti, the Company has entered into a JV with the Djibouti Ministry of Energy and Natural Resources and Electricite de Djibouti in relation to the Fiale Geothermal Development Project, a major geothermal resource in the Rift Valley in Africa. The Project involves the staged development of a 150MW capacity project over the next several years.
Argentina is home to the 30MW Copahue Geothermal Project, in which the Company has entered into a JV with a Private Canadian entity, which provides for earning up to 87.5% of the project. A key element of the Copahue Project is that it has previously had a small scale geothermal pilot plant installed and operating, supplying a small nearby town in the 1990?s. As a result, significant infrastructure is already in place at the site.
Growth in the New Energy space will be represented by building a larger interest in African Rift Valley Geothermal projects, in addition to advancing certain coal bed methane opportunities in target markets which utilise the skills and operation capability of the Company.
Australian Projects
Earth Heat holds 100% interest in eight geothermal exploration licences (‘GELs’) covering circa 3,850km² in south Australia, in an area of higher heat flow which is known as the South Australian Heat Flow Anomaly (‘SAHFA’). In addition, the Company currently has three further GELs on offer for grant which would bring the Company’s total tenement coverage in South Australia up to 13,000km². The SAHFA is a corridor through the eastern-central part of the Australian continent (Figure 1) where heat-producing rocks in the crust contain relatively high concentrations of radiogenic isotopes of uranium, potassium and thorium. The natural radioactive decay of these rocks produces high heat flow. A thick succession of sedimentary rocks contained within the Adelaide Geosyncline of South Australia represents an effective insulating blanket required to maintain high heat flow through units of high thermal conductivity in this part of the SAHFA.
The part of the Adelaide Geosyncline between Adelaide and Copley has attracted much interest from geothermal explorers recently, and the southeast corner of the ORROROO 1:250 000 geological map sheet has been identified by Earth Heat as highly prospective. Several prospects are contained within the compeight GELs where there is strong potential for Hot, Dry Fractured rocks (‘HDR’) and Hot Sedimentary Aquifers (‘HSA’)
Mine For
geothermal
Location of operation(s)
Argentina, South Australia
Address
Level 7, Ferrari House, 28-30 Grenfell St
ADELAIDE, SA, Australia
Phone
+61 8 8212 0579
Website
Last Updated
2/5/2011
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.
