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Market: ASX
Sector: Cleantech and Renewable Energy
EPIC: PAX
Latest Price: A$0.01  (0,00%)
52-week High: A$0.03
52-week Low: A$0.01
Market Cap: A$4.11M
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Panax Geothermal
www.panaxgeothermal.com.au

Panax Geothermal is a pure geothermal company with access to some of the worlds most promising geothermal assets. As climate change projections worsen, Panax Geothermal is well positioned to commercialise sustainable sources of base-load energy, powered from the Earth.

The long term vision of Panax is to become a major participant in the geothermal industry, both nationally and internationally. The scope of its geothermal interests will be broad, including both conventional geothermal resources (volcanic related) as well as enhanced geothermal systems (EGS) such as hot fractured rock (HFR) geothermal systems.

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Panax Geothermal drill rig mobilisation remains on schedule

18th Jan 2010, 9:24 am

Panax Geothermal (ASX: PAX) has advised that the mobilisation of the Weatherford Drilling International rig from the Paralana site in the Flinders Ranges to the Salamander-1 drilling site at Penola in South Australia remains on schedule.

In a statement, the Queensland-based company says the last of the approximately 130 trailer loads will arrive at the Salamander-1 drilling site in Penola today.

Panax reported that each of the loads delivered to date have arrived safely and without incident at the Salamander-1 site.

The rigging up process is continuing, with the rig on schedule to spud later this month.

Detailed on-site safety presentations and meetings will be conducted at the Salamander-1 site during the coming week.

 

 

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