Well, with regards to risk exposure, here's a nice idea from the...

Well, with regards to risk exposure, here's a nice idea from the company to harvest some less deeply buried energy:

"In conjunction with the University of Western Australia, Green Rock Energy is preparing for the development of Australia’s first commercial geothermal powered heating and air-conditioning unit at one of three commercial buildings in the Perth Metropolitan area where it will drill two deep (down to 2,500 metres) geothermal wells to provide the 100°C geothermal water to power a commercial heating and air-conditioning system. By replacing a conventional chiller (air-conditioner) that uses electrical energy, large commercial buildings, including universities, hospitals, hotels, airports, data centres and shopping centres, can be air-conditioned using hot geothermal water"

They can gain experience in drilling and developing a resource that is adjacent to demand and only required a retrofitting of the existing air conditioning systems. It does, however, sound more like a technical curiosity than an immediate strong revenue stream, with a very long pay back period for the users, and high up front capital costs for GRK (in acquiring a rig and drilling team). It's going to be interesting to watch.

Has anyone heard anything about the Perth Basin Permits or further developments in Hungary? If 200 C water has been intersected by petroleum wells in Hungary, and the results are mapped within GRKs tenements, when will the company be able to recommence flow tests and project design?

Thanks,

Tawny