Kuth have been in the news hare in Tasmania today by saying they are writing off their investment in their tasmanian geothermal project and putting it in the bottom drawer for when there is more political support and stability for the industry. The cost of drilling was also mentioned as a negative factor. Pity PTR and Kuth can't get together here in Tas. The geothermal resources are probably the best in the whole of Australia and PTR has the profile to bring a lot more attention to the potential of the resource. Somebody else with deeper pockets than both companies would also be required to make things happen. Unlikely to happen but proof of concept somewhere else in Australia might be a catalyst for another look at Tasmania. On another matter, I hard a Tasmanian Mines Dept. person talking about the low TOC levels in the shale within the PTR exploration area. 1 - 2% Also deep. Maybe PTR knows something he didn't. However, this bloke did a very good job pointing out the long history of fracking in this country and the different nature of CSG V Shale gas.
PTR Price at posting:
2.3¢ Sentiment: None Disclosure: Held
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