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.
Panax Geothermal reports on test flow results at Salamander-1
Panax Geothermal (ASX: PAX) has reported that results of the recently completed short term clean-up flow indicate that the Salamander-1 well requires further clean-up before the long term flow or well productivity test can be undertaken.
This second clean-up has been scheduled to be carried out in the week starting 10 May, 2010.
As a consequence of the above, the long term flow or productivity test, which is designed to convert part of the established “Measured Geothermal Resources” into “Geothermal Reserves”, is now rescheduled to take place in June, 2010.
Panax said the costs of this additional clean-up flow can easily be accommodated from current cash reserves.
The interpretation of the petrophysical logs of Salamander-1 and the newly acquired vertical seismic profile data (VSP) are still awaited.
The company said that geothermal temperatures in the Salamander-1 well, as measured to date, are in line with predictions prior to drill testing.
The well is located at the Penola Project in South Australia’s Otway Basin.
