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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 Salamander-1 well at 3,330 metres depth

9th Mar 2010, 9:32 am

Panax Geothermal (ASX:PAX) has advised the Salamander-1 well had reached 3,330 metres depth at the Penola Geothermal Project GEL 223, Penola in South Australia as at Tuesday 9th March.

During the week, the operator cased and cemented the 12.25 inch section of the hole (9 5/8 inch casing) and was drilling ahead on the 8.5 inch section of the hole, before the commencement of logging, and running of 7 inch perforated liner in the reservoir section of the hole.

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