Petratherm positive on hot rock energy

A company pioneering a process to extract energy from “hot rocks” below the earth’s surface says it could be providing energy for commercial use within three years.

Petratherm Ltd, which announced a $30 million energy joint venture with Beach Petroleum Ltd for its Paralana project in South Australia, is preparing to help provide energy to the Beverley uranium mine near the site.
Petratherm managing director Terry Kallis said if the results from two new wells – due for construction later this year – at the site are positive, the company could become a significant alternative energy player.

“The timing depends on the availability of the rigs, but we’re targeting the second half of this year to drill the first well, and subject to testing on that first well, we’ll determine how quickly we can then drill the second well,” Mr Kallis said.

The Age