re: Ann: Port Augusta Seismic Confirms Geothe...
Seismic heats up Parachilna project Thursday, 16 July 2009
TORRENS Energy is a step closer to drilling deep geothermal wells at its Parachilna project in South Australia after 2D seismic found the area would be ideal for the development of a geothermal reservoir.
The company says the survey, which crossed the Parachilna inferred resource of 780,000 petajoules, has so far confirmed primary target basement rocks at depths of 3000-4500m covered by a thick sequence of insulating cover, coinciding with a large region of high heat flow identified by exploration drilling in 2007-08.
Executive director John Canaris says the rocks are modelled at more than 200C and present conditions that would be ideal for the establishment of a geothermal reservoir.
“With the overall geometry of the Parachilna geothermal play now understood and a range of high-quality targets presenting in the data, Torrens Energy is on track to engage AGL to commence deep drilling to the target geothermal resource in the near future,” he said.
Under the agreement with AGL Energy, AGL has the right to earn 50% of the Parachilna play by sole funding the completion of a confirmation well to a target reservoir at a cost of around $10-15 million.
The survey was shot by Terrex Seismic and is fully funded and supported by the $3 million in matched funding under the Australian government’s Renewable Energy Development initiative.
Torrens is currently refining the survey by intermediary drilling.
Meanwhile, the company said Terrex had also completed a 2D seismic program over its Port Augusta project, south of Parachilna.
Data from the survey is currently being processed and will be used to model the relationship between temperature and depth.
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