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.
Drilling progressing at Panax Geothermal's Salamander-1 well
Geothermal-focussed company Panax Geothermal (ASX:PAX) has provided investors with an update on drilling of the Salamander-1 well as at Tuesday 2 March 2010.
Bertus de Graaf, managing director of Panax reported that the Penola Geothermal Project GEL 223 in Penola, South Australia was drilling ahead on the 12.25 inch section of the hole. Casing was being run on the 12.25 inch section (9 5/8 inch casing) of the hole, prior to the casing having to be retrieved to the surface due to issues associated with circulation of the drilling fluids.
Before this was achieved, an electrical motor (one out of two) powering the main draw works of the contract rig ceased to operate. A new motor was sourced by Weatherford ex Dubai and has been fitted.
Operations have recommenced.
Casing and cementing of the 12.25 inch section to be undertaken, are scheduled to take approximately 2 days. This will be followed by commencement of drilling of the 8.5 inch section of the hole.


















