Greenearth Energy Leads Geothermal Pack

Geothermal Energy Fortnightly
News, prices and comparisons

Key developments for two weeks ending 14 October 2009

*Reno GRC: Many Australian geothermal companies have been at the Geothermal Resource Council meeting in Reno Nevada last week. Presentations released to the ASX provide in-depth summaries of various projects.

*HRL: Announced maiden resource assessment for a Hot Sedimentary Aquifer (HSA) reservoir in the Koroit Project located in GEP8, Otway Basin, in south-west Victoria. The total resource is 67,000PJ in-place stored heat. This is made up of 7,600PJ indicated resource and 59,000PJ inferred resource. The future production strategy for the Koroit Project is to drill large diameter production wells to depths of about 3,500km with an average production temperature of 150C assumed for the production interval 2,800m to 3,500m.

*GRK: Three geothermal permits in Collie Basin, Western Australia have been jointly granted to GRK and BHP Billiton Worsley Aluminia. The objective of new work in the Collie Basin is to prove the technical and commercial viability of recovering geothermal energy from the permits, contributing to a reduction in the carbon footprint from existing local operations.

*GER: Released an interesting comparison of HSA geothermal systems worldwide. The comparative study by Sinclair Knight Merz supports the conclusion that hydrothermal geothermal systems including HSA are proven worldwide.

*PTR: Paralana 2 was at 3,190m at 14 October 2009 with a gain of 161m over the
last week.

*New World Energy: New World Energy expects to go to the market in an Initial Public Offering to raise around $10 million to explore and develop its geothermal exploration leases in WA and South Australia. New World Energy has recently secured nine geothermal permits in the Pilbara region of Western Australia.

Contacts:
Jenny Cosgrove
+61 7 32121389
[email protected]

John Young
+61 3 9640 3846
[email protected]

SOURCE: Greenearth Energy Ltd.