Last announcement 1/06/2013."During the quarter ended 30 June...

Last announcement 1/06/2013.

"During the quarter ended 30 June 2013, Torrens continued investigations into new opportunities for the Company. These opportunities are focused around the oil and gas and energy sectors to take advantage of the skills and experience of the board.
Torrens had entered into an agreement to acquire interests in four petroleum permits in the Carnarvon Basin. These permits were predominantly shallow offshore and onshore, with prospectivity for both oil and gas.
Detailed due diligence was undertaken and the Company elected not to proceed with the transaction.
Torrens is currently undertaking a review of potential opportunities focused on delivery of gas into the Western Australia market along with international upstream energy sector opportunities.
GEOTHERMAL OPERATIONS
The Company is convinced of the future of geothermal energy and continues to maintain its geothermal tenements at a pace appropriate for the sector as a whole as part of a long term geothermal strategy to unlock the value of these assets.
Torrens congratulates Geodynamics on its success in proving the application of hot rocks technology in Australia. This is an important step for the geothermal industry.
FINANCIAL POSITION
The cash at bank at 30 June 2013 was $2.79m."