General Search - Enter what you're looking for...
HOT ROCK LIMITED - ASX: HRL
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
Hot Rock Limited was created to be a leader in geothermal generation. Geothermal is a unique intersection of natural resource development with electricity generation. Hot Rock Limited is focused on developing high value conventional geothermal projects in commercially and politically stable and supportive countries with demand for renewable power and proximity to markets and transmission lines. We are active in Australia, Chile and Peru.
Otway Basin Development Projects
Hot Rock Limited holds five geothermal tenements in the Otway Basin of Australia, containing multiple geothermal development targets. The geothermal resources here appear to be large and are ideally located, being close to both major electrical transmission lines and power markets. The geology is favourable, with good temperatures and evidence for both primary and secondary types of permeability which are expected to provide high well production flow rates and thus cost competitive geothermal electricity generation. To date, Hot Rock has identified and delineated three geothermal resources in the Otway Basin through re-interpretation and assessment of historical data from the oil & gas exploration and drilling industries and the ground water sector. These resources have been assessed to contain the following amount of in-place stored heat:
· “Inferred Geothermal Resource” of 165,000 PJ - where resource temperatures are not directly measured but estimated from thermal modelling, and
· “Indicated Geothermal Resource” of 14,300 PJ - where actual resource temperatures have been measured in-situ within the geothermal resource in existing petroleum wells
With the geothermal resource in the Koroit area in GEP-8 now well delineated from existing data, HRL is proceeding in 2011 with the drilling of two Proof of Concept wells, coded KHR-1 and KHR-2. These two wells have been designed to intersect an optimum combination of primary and secondary permeability and it is anticipated that the geological evaluation and flow testing of these wells will confirm the characteristics of the Koroit geothermal resource with sufficient certainty to allow for the procurement and installation of a small pilot power plant at Koroit by mid 2013. The pilot plant will provide critical information on the technical and commercial viability of geothermal power generation at Koroit and will provide the pathway for achieving commercial scale geothermal generation at 50MWe scale for commissioning by 2015.
Walsh Hot Springs, Queensland
The Walsh Springs, Exploration Permit for Geothermal (EPG) 19 was granted to HRL on 1 June 2010, for a 5 year term. It is located 115 km west of Cairns in north Queensland and covers approximately 657km2. It is also located within 75 km of major transmission lines and electricity markets in north Queensland. Two hot springs have been discovered in the tenement with recorded surface discharge temperatures of 42oC and 56oC. No previous geothermal exploration has been carried out in the area. The prospect appears to be associated with Carboniferous age, heat generating plutonic rocks and associated fractured volcanic rocks in the Featherbed Cauldron Complex. Hot Rock is planning to commence mapping and sampling thermal spring features in the tenement in 2011.
Chile Projects
Chile has excellent potential for both high and medium temperature geothermal projects. In February 2011, Hot Rock holds a 100% interest in 12 Chilean exploration tenements spanning some 5,240km2 in 6 project areas. These projects contain surface thermal features consisting of hot springs, sinter deposits and fumaroles, all indicative of the presence of active geothermal systems below surface. Exploration programs consisting of geological mapping, geochemical sampling and magneto-telluric (MT) geophysical methods have commenced.
Peru Projects
Hot Rock Limited established in March 2010 a wholly owned subsidiary company in Peru, registered as Hot Rock Peru S.A. (HRP SA). This company is actively seeking high temperature volcanic geothermal projects in Peru suitable for the development of electricity generation plant.
Mine For
geothermal, hot rocks
Location of operation(s)
Queensland, Chile, Peru
Australian Basins
Otway
Address
Level 5, 10 Market St
BRISBANE, QLD, AUSTRALIA
Phone
(61 7) 3212 6200
Website
Last Updated
5/4/2011
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.
