BB, further to systemiser's link, I believe the original article...

BB, further to systemiser's link, I believe the original article you referred to was posted (thanks to radd) on the GRK site:

http://au.news.yahoo.com/thewest/business/a/-/business/6962346/new-rig-could-unlock-australias-geothermal-energy/

Mentions the GT3000 but can't see any diameter distinction here? Apparently citing a breakthrough of $2000/m rather than current $10,000/m? Looking at PAX's costs and assuming PAX budget $15m for 4000m was all for drilling (and ignoring the ancillary costs eg well design, site works, wellhead, rig management, holding costs, etc), I believe it gives a figure of $3750/m at worst? (and worked out by day in any case?) And as they did it in 40-ish days (ignoring repairs) rather than the budgeted 60 it should work out even less (admittedly they set a cracking pace and were helped by softer rocks).

But any availability of more rigs surely good news for geoT companies.

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On the latest PAX anns, I agree with Dis - I don't see how the disappointing transmissivity numbers form a 3rd piece of good news? I'm hoping they'll increase with the chemical cleanup but surprised this did not appear to be discussed in this section of the ann? I was feeling a bit top heavy and trimmed off a few - always a hard call at these prices. Good to see they went to a good home PPH ;)

Positives:
New temp zone looks promising?
Chances of further grants from newly created Fed budget fund?
As BB picked up, could Rann's presence at event herald some state assistance also?
EOQ 12m+ cash plus remaining grant funds?
SP historically cheap?

Possible concerns:
How much does SAL1's mooted change to injection well reflect the possibility it's not going to cleanup enough for a production well?
If so, might JV partners wait until SAL2 drilled and flow tested?
$ for SAL2 and rig availability / timing (more rig competition as above may be key)?
GFC2 (lol)

So mixed feelings from me. I'm still positive overall on the project and retain core holding for LT.

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Still looking for news on Weatherford rig - see latest pics from steam event - is rig missing in pic1 background?