drilling program

It is a minor puzzle as to when PAX will actually be able to commence drilling its Salamander 1 well. Pax and PTR, and perhaps others, have combined to have Weatherford International bring its Rig #828 to Australia. PAX in its 2008 Ann Rep said the rig had been secured for April/May 09. Since then this 'date' has been modified to a firm time slot 'mid-09' but PTR has just spelled out in detail that Rig 828 is due to arrive in Australia on 10 May 09 and will spud Paralana 2 well on 15 June 09. It would therefore seem unlikely that PAX could commence drilling before mid Sept. Both companies have applied for grants from the GDP fund and therefore have to satisfy particular conditions including having commenced the project and definitely having a drill rig available by June 09.

I note that the following small geothermals appear not to be ready for deep drilling and presumably have not applied for GDP grants: GER, GHT, GRK, KEN, TEY. GRK have expressly said that they did not want to presently outlay funding to a drilling company and hope to submit a GDP application in the "Second Round". The Federal Government responded that they intend to open Round 2 grants in April. This is the first mention I've seen of a Second Round. It could well be that although there is a cap of $7M per grant they did not even receive 7 applications that could satisfy the criteria.

HRL are also part of a 'Drilling Club' who have hired a ThermaSource rig. Anyone else know of other partners here?

Juke