I agree completely with Jukes, the pictures don't mean very much.
JVs are a massive strength... the main barrier facing geothermal companies in Australia is access to risk capital. You need a big JV partner on board for anything much to happen.
I think - and this is a completely uninformed observation - that AGL's partnership with Torrens might be more the example of having a JV partner who has no real interest in seeing anything much happen. The money needed for TEY to proceed was chickenfeed to AGL, so you have to wonder what the advantage of having a "silent" JV partner is.
In comparison, Beach, TRUenergy and Origin are largely responsible for any hope of geothermal power generation in this decade. It all depends on the technological risk right now - if our technology is suitable, right now, to harness the resource PTR has then, wooohooo! If not, shucks.
I'm just glad they're having a look to see if its possible, pretty much thanks to the gov't and the JVs that we can do that.
PTR Price at posting:
9.5¢ Sentiment: None Disclosure: Held
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