jolokia 1 spudded

GEODYNAMICS
L I M I T E D ABN 55 095 006 090
SUITE 6 LEVEL 1 19 LANG PARADE PO BOX 2046 MILTON QUEENSLAND 4064 AUSTRALIA
TEL +61 7 3721 7500 FAX +61 7 3721 7599 EMAIL [email protected]
ASX ANNOUNCEMENT 18 MARCH 2008
Jolokia 1 spudded
Geodynamics is pleased to announce that Jolokia 1 was spudded early this morning
and had drilled 45 metres at 6 am with an initial rate of penetration of 10-20 metres
per hour. The well is being drilled 610 mm diameter to 580 metres for this section
being the first casing point.
Rig 100 rigged up at Jolokia 1 with five inch drill pipe in the foreground
Rig 100 with “turkey’s nest” pond holding rig site water supply
Jolokia 1 is located approximately 9 km from Habanero and is targeting fractured
granites at a similar depth known to be 10°C hotter than the Habanero wells. Its
target well depth is 4,250 metres.
As for Habanero 3, Geodynamics intends to provide the market an update on drilling
progress at Jolokia 1 approximately every two weeks. For further information please
check our website (www.geodynamics.com.au) or contact Mr Gerry Grove-White or
Paul Frederiks on + 61 7 3721 7500.
Gerry Grove-White
Managing Director
Participants in Jolokia 1 and the Innamincka Joint Venture are:
Geodynamics (Operator) – 70%
Origin Energy Geothermal Pty Ltd* – 30%
*A wholly owned subsidiary of Origin Energy Limited (ASX:ORG)