Guys,
beg to suggest that the next 3 months will hardly be exciting. Drilling through 5 km of rock is about as attractive as watching paint dry.
The concept is OK, drill down to hot rocks (and there is no real doubt that they are there), pump down water, get hot steam and generate electricity. Fine so far as it goes, but there are a lot of problems in doing it, which kind of explains why despite the plenitude of hot rocks around the world it is kind of hard to name a commercial project anywhere. The real issue boils down (pun! ) to the thermal conductivity of the rock. The first water down steams out fine, but it also cools the rock. Which then takes quite a while before it gets hot again. So you have to fracture the rock unless you are lucky enough to find natural fractures, drill more holes and circulate the water through the fractures. Which then tend to plug up and have to be reopened and so on. And 5 km wells are not cheap. So why is the Gov in. Just maybe because it is good politics to seem to support green type activities. And why Woodside, who knows. But then again why did they buy into OSH at over $2 and Hardman at considerably above the current price. Punters I guess, covering the angles.
To my way of figuring things, a good idea but a very long way before a commercial return. And with market drivers very different to the good old oil wildcat.
Cheers.
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