I find this stock quite iinteresting because of its low market cap compared to other geothermal stocks.
I have one concern - from my understanding the hot granite is much closer to the surface than stocks of PTR or GDY (the only other publicly listed stock that seem to have done some significant drilling), and is at a lower temperature. The 23/09/05 ASX Announcement says that the temperature at 1.8 km depth is 82 degrees centigrade.
My concern is that drilling to depths with a higher temperature through granite may be more difficult than through sedimenatry rock. I am also interested in what the temperature gradients through granite are expected to be. A slide from
http://www.pir.sa.gov.au/pages/petrol/prospectivity/aapg_2006_geothermal.pdf
suggests that temperature gradients are 3-3.5 degrees centigrade. I would be very interested in further information on whether this is the case. Any comments?
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