panax mentioned in coretrack drilling article

---from article:
--- http://www.climatespectator.com.au/commentary/deeper-faster-cheaper

---Extract starts---


Coretrack says the GT 3000 has been achieving hard rock penetration rates of more than 30 metres an hour, many times faster than the existing platform-based drill rigs. It has used just a three-man crew and consumed only 14.6 litres of diesel per hour, compared to as much as 600 litres per hour used in competing oil and gas rigs.

The Salamander 1 well drilled by Panax Geothermal in South Australia in 2010 reached a depth of 4025 metres after 42 days and at a cost of $15 million. That equates to an average drill rate of 95 metres a day at a cost of $3,750 per metre. It says the GT3000 could have done the same job in half the time and half the cost.

---Extract ends---


See also comments added below the article.






My position remains hold, though tempted to sell most to reduce my debts, if not see some progress with timetables and prices..
.