ASX ANNOUNCEMENT 12 MAY 2009Habanero 3 – Well Incident...

ASX ANNOUNCEMENT 12 MAY 2009
Habanero 3 – Well Incident Update
Geodynamics as operator of the Innamincka Joint Venture provides the following update on
the well incident on 24 April 2009 at its Habanero 3 well site located near Innamincka in
remote northeastern South Australia.
• Water and steam continue to flow from Habanero 3.
• Analysis of the well conditions has been performed, enabling a program of work to be
designed to stop the flow of steam and water.
• Equipment to carry out the program of work is currently being mobilised to the site.
• The Company expects to be in a position to attempt to stop the flow within the next 1
to 2 weeks.
Once the flow of water and steam has been stopped, the Company will be able to secure the
well, examine the cause of the incident and assess in detail the future implications for the
well.
On the available information, these events could delay the commissioning of the 1MW Pilot
Plant by approximately 6 to 9 months. However the incident at Habanero 3 does not affect
the Company’s long term plans to develop competitive geothermal energy, save for the
delay mentioned above.
The Company continues to closely monitor the situation, and further updates will be provided
as material circumstances change.