re: Ann: GDP application for Perth Urban proj... Green Rock...

re: Ann: GDP application for Perth Urban proj... Green Rock Energy’s $7m Geothermal Drilling Program grant application for the Perth Urban Geothermal Energy Project is undergoing full merit assessment
Green Rock Energy Limited has been advised that its application for funds under the Geothermal Drilling Program (GDP) Round 2 has been checked for completeness and assessed as eligible. This application will now undergo a full merit assessment under the Program.
The Company has been notified that the final decision on the award of funding following merit assessment is scheduled for mid-November this year. The GDP has been set up by the Commonwealth Government to assist companies to develop geothermal energy by supporting proof-of-concept projects. The GDP is a competitive merit based program provided as a dollar-for-dollar subsidy, capped at $7 million per proof-of-concept project.
Green Rock Energy’s $7 million GDP application was made for the Perth Urban Geothermal Energy Project. This Project is located within the first Geothermal Exploration Permit to be granted in Western Australia, GEP 1, held by Green Rock Energy and The University of Western Australia (UWA) which covers 143 square kilometres of the Perth Basin, including UWA’s Crawley Campus. This Project is designed to prove the recoverability of usable geothermal energy from hot sedimentary aquifers within the Perth Metropolitan Area. Subject to commercial viability the Company aims to undertake a commercial demonstration project, consisting of one production and one injection well in a geothermal energy resource at UWA’s Crawley Campus. Success will enable the commercialisation of geothermal power for use in a distributed air-conditioning system on the UWA Campus and replication throughout the Perth Metropolitan area and other locations.