This was an article in the Herald (back in August) about PGS....

This was an article in the Herald (back in August) about PGS. The last paragraph refers to the Govt encouraging explorers to form joint ventures and that the tenders close Sept 25.

Pure speculation but could this be what people are buying into?? An announcement looming regarding JV???

Thoughts anyone?

CC




BY MATTHEW KELLY ENVIRONMENT REPORTER
24/08/2009 4:00:00 AM
SYDNEY-based coal-seam methane company Planet Gas has launched a bid to develop renewable energy in the Hunter by tapping into heat from the
earth's core.
The company said this week it was keen to investigate reserves of geothermal energy within the Gloucester Basin.
The company recently acquired the exploration rights to the resource rich basin, which extends from Booral to Gloucester, as a result of its acquisition
of Gradient Energy.
Managing director Sharif Oussa said the basin was a key geothermal base in NSW.
"We think the Gloucester basin potentially has some significant reserves and resources of contained heat that can be turned into electricity or heating
or cooling," he said.
Geothermal electricity is typically generated by tapping into hot rocks several kilometres below the earth's surface and transferring the heat to the
surface using high-pressure water.
The heated water is then used to drive a power turbine.
Mr Oussa said no intrusive work would take place until the viability of the resource was fully investigated.
"The next couple of years are going to be fairly light on; there won't be any drilling," he said.
"We need to do some additional work to identify and focus in on prospects. Once those prospects have been identified we can move to the next stage
where we may need to do drilling."
Planet Gas's entry into the region follows that of Queensland-based company Geodynamics, which said last year that it was exploring geothermal sites
between Bulga and Muswellbrook.
Earlier this month an expert State Government panel recommended the Sydney Basin, including the Hunter, be open to tender for geothermal
exploration.


The Government is encouraging explorers to form joint ventures to operate in cost-effective and efficient ways.
Tenders close September 25.