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GREEN ROCK ENERGY LIMITED

ASX: GRK

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Geothermal energy is the natural heat of the earth. It is renewable and competitive with other energy sources and is available and reliable round the clock.Green Rock will produce it for the markets we serve to deliver substantial value to our shareholders.

Olympic Dam, South Australia (100% owned)

The Olympic Dam Geothermal Energy Project is a wholly owned Green Rock Energy Limited project, located in central South Australia. Green Rock Energy holds 2,233 km2 of Geothermal Exploration Licences (GELs) over buried hot granites in the area surrounding BHP Billiton's Olympic Dam copper and uranium mine. An area of 650 km2 holds estimated inferred resources of 120,000 PJ of heat in place. In their report of the estimated inferred resources Sinclair Knight Merz (SKM) noted that less than 3% of this storred heat needs to be recovered to generate a constant 400MW of electricity over a 30 year project life. This project is situated on what the Company believes to be the most economically prospective hot dry rock, geothermal energy ground in Australia.

Patchawarra, South Australia (100% owned)

The Patchawarra Geothermal Energy project comprises three exploration licences covering 1,438 km2 of land over the Patchawarra Trough in the Cooper Basin, South Australia. The area contains sedimentary formations which are believed to be prospective for hot sedimentary geothermal water and potentially suitable for generation of geothermal electricity.

Great Artesian Basin, South Australia (100% owned)

Green Rock Energy has eleven exploration licences which occupy an area of approximately 5,038 km2 in the Great Artesian Basin (GAB). The GAB is one of the largest artesian groundwater basins in the world and underlies over 1.7 million sq kms, about one-fifth of Australian land area. The GAB contains artesian water held in permeable sandstone layers which are over 3,000 metres thick in the deeper parts of the Basin.

Upper Spencer Gulf, South Australia (100% owned)

The Upper Spencer Gulf project, covering 1,938 km2 along the Upper Spencer Gulf coast, has the potential to provide geothermal energy to power seawater desalination projects or electricity production. A 275 kV power line is situated along the eastern edge of the geothermal licences and two 275 kV lines are situated at the northern edge. Green Rock Energy's exploration licences cover an area from south of Whyalla on the Eyre Peninsula, north to Port Augusta and then south along the east coast of the Spencer Gulf to below Port Pirie in South Australia. Sections of the tenements are underlain by the prospective Hiltaba Suite granitic rocks. These granites contain the same radiogenic hot granite Suite which the Company is exploiting at Olympic Dam and provide the heat source for the geothermal energy.

Perth Basin Project, Western Australia (varying % interest)

Green Rock Energy holds 16 Geothermal Exploration Permits (GEPs) in Western Australia.

* In the North Perth Basin, the Company holds a 100% interest in nine GEPs (covering 2,637 sq kms).
* Of the four GEPs held in the Perth Metropolitan area (covering 685 sq kms) three are held 100% by Green Rock Energy and one is held jointly with the University of Western Australia but the Company holds 100% of the beneficial interests.
* In the Collie Basin Green Rock Energy holds three GEPs (covering 879 sq kms) jointly with BHP Billiton Worsley Alumina in varying percentages.

In the North Perth Basin where temperatures are the highest, there is geothermal potential for electricity production to be fed into the nearby power grid. In the Central Perth Basin which includes the Perth Metropolitan area, the focus will be on direct heat uses including air-conditioning and desalination of water, which displace electricity as their energy source.

Hungary Project (50% owned)

Green Rock Energy, along with MOL Plc, are equal shareholders in the Hungarian geothermal energy company, Central European Geothermal Energy Private Company Limited (CEGE). MOL Plc. is a major European oil and gas company which holds the largest hydrocarbon leases in Hungary. CEGE consolidates the strong relationship between the two companies for the exploration and development of geothermal energy resources in Hungary. CEGE's mission is to become a market leader in geothermal energy in Hungary through the exploration and development of geothermal power plants and the subsequent production and sale of geothermal sourced electricity into the Hungarian market.

Hungary currently has direct heat projects but no electricity production from geothermal energy although the region in and around Hungary, the Carpathian Basin, has significant geothermal potential. The Carpathian Basin in Hungary is known from petroleum drilling carried out by MOL to have very favourable geology with abundant natural geothermal water with temperatures ranging between 120C to 200C. These high temperatures, at reasonable depths between 2.5 to 4 kilometres, are due to the abnormall thinness of the earth's crust compared to the World average. Hungary is a member of the European Union. The Hungarian Government has introduced policies to encourage the use of renewable energy. As part of the Kyoto Protocol, Hungary agreed to decrease its annual CO2 emissions by six per cent between 2008 and 2012 as compared to the reference period of 1985 to 1987, with a renewable energy sourced electricity target of 20 per cent of total electricity produced by 2020.

Some promising geothermal prospects in Hungary have been identified from the evaluation of MOL's extensive petroleum well data and seismic mapping. Detailed evaluation has been undertaken to determine the precise locations for drilling geothermal wells at these prospects, in conjunction with the processes for obtaining formal title to geothermal tenements. Work continued on well selection for the first project for electricity production. A project area has been selected by CEGE to carry out flow testing of geothermal water intersected in an existing well. This project area was selected where power production could be achieved in the shortest time frame and at lowest cost using existing wells and technology. Success with this can lead to other existing wells in Hungary being brought into production followed by new larger wells to generate more electricity.

Mine For

geothermal, hot rocks

Location of operation(s)

South Australia, Western Australia, Hungary

Australian Basins

Perth, Cooper, Great Artesian

Address

Unit 6, 38 Colin St
WEST PERTH, WA, AUSTRALIA

Phone

08 9482 0482

Email

Website


Last Updated

6/4/2011

 

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.

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