imo3, page-3

Imorgante3,

Read the post above then have a read of the following extract from a release the company put out about their prospect at Olympic dam:

“The Blanche No 1 well penetrated sedimentary cover rocks over the granite which provides a “blanket” to retain heat generated from depth. A significant formation in the cover rocks, the Tregolana shale, had measured temperature gradients of around 60ºC/1,000 metres in keeping with its low thermal conductivities and nearby drill holes at Olympic Dam had readings reported to be up to 83ºC/1,000 metres.
In the underlying granite the temperature gradients measured around 30ºC/1000metres.

Nearby drill holes at the Olympic Dam mine have readings up to 35ºC/ 1,000 metres.
Based on these readings, temperatures of greater than 200ºC, currently considered desirable for conventional HDR power generation projects, have been modeled to occur at depths between 5,500 and 6,000 metres in the area in the vicinity of Blanche No 1.
Drilling to these depths is within the range of available drilling technology.
This temperature information suggests that a “low” grade geothermal resource (120ºC to 185ºC) will occur from around 3,000 metres to 5,500 metres and a “high” grade geothermal resource from 5,500 metres and deeper.”

Now compare GRK with other geothermal companies for the following:
Market capitalisation
Location to transmission lines or customer
Quality of resource
Experience with geothermal power generation


Let me know how you go mate.

BTW I never expected anything from the budget last night for geothermal, that will come later, prior to the federal election, in the form of emissions/carbon trading. It is the REDI grant I am waiting on.

Buy on the dips.