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's Bertus de Graaf is confident about well casing in upcoming Salamander-1 well
As Panax Geothermal (ASX: PAX) moves closer to drilling Salamander-1 well in the Penola Trough in South Australia, anticipation is building.
Recently, mobilization of Rig # 828 to be used for drilling of Salamander-1 was delayed by one month or more, due to unanticipated hard formations encountered in rocks at its current drilling location, which are much older than those normally targeted in the petroleum industry.
Managing Director Bertus de Graaf has allayed concerns relative to that incident, indicating there is no risk of casing failure due to embrittlement in the Salamander-1 well. Because;
- Over a period of 10-20 years or more, none of the 28 wells drilled to date in the target reservoir have shown any sign of casing failure due to “embrittlement” or any other factors;
- Records show that the target reservoir (the Pretty Hill Formation) in the Penola Trough does not produce hydrogen sulphide;
- Pressure conditions in the target reservoir are hydrostatic, i.e. the casing is not “overpressured”;
- Casing strings to be deployed in the Penola Project are manufactured of standard grade steel casing, such as has been deployed in local gas production wells; and
Penola is a Hot Sedimentary Aquifer project, commercially proven and with a fast development profile. Drilling will spud Salamander-1, as soon as the contract rig is available.
