AZO 0.00% 80.0¢ apollo gas limited

ASX Release - 23 December 2009Geothermal licence awarded to...

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    ASX Release - 23 December 2009
    Geothermal licence awarded to Apollo
    Apollo Gas Limited is pleased to announce that it has been awarded two geothermal
    exploration licences in the southern Gunnedah Basin by the NSW Minister for
    Mineral Resources.
    The new licences, G8TA-C and G8TA-D, overlay a large portion of Apollos PEL1 456
    and the majority of the Murrurundi Trough. (The licences were applied for by
    Apollos wholly owned subsidiary, Macquarie Energy Pty Ltd.)
    The new licences have a combined area of c.3,500 km2 and recent drilling suggests
    basement depths in excess of 4,000m. Apollo intends to explore for geothermal
    resources by leveraging off its coal seam gas (CSG) exploration activities in PEL 456.
    Synergies between exploration activities of the CSG and geothermal programs will
    enable Apollo to realise technical benefits and operational efficiencies.
    This new licence represents an exciting opportunity for Apollo to assess the potential
    for a renewable energy resource in the Sydney Gunnedah Basin.
    Should the exploration program prove successful, Apollo will assess at that time the
    optimal structure to advance the project.
 
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