gdy 105 million jv origin energy, page-4

"“Geodynamics reaffirms its standing policy that wherever possible it will invite shareholders to participate in future capital raisings.”

Geodynamics Managing Director Gerry Grove-White said that to achieve its target of 500MW by 2016, the company would require multiple drilling rigs.

“We have already made enquiries about securing a manufacturing slot for a second rig,” he said.
“The funds provided by Origin will be used to drill the next three to four wells, which will essentially be designed to upgrade the known resource to proven reserves and located over the project area and up to 9 km from the existing wells.”"