Torrens Energy exploration underway

Torrens Energy is pleased to report exploration work is progressing well, with...

  Torrens Energy is pleased to report exploration work is progressing well, with field measurements from the Parachilna Prospect continuing and modelling of recent heat-flow results underway.Modelling thus far has shown that the target heat exchanger reservoir is likely to be in similar rocks to those being exploited in the Cooper Basin, and a favourable stress regime for heat exchanger development has been shown to occur nearby at Olympic Dam.Planning for the 2008/2009 exploration programme is underway and Torrens Energy has secured the services of an experienced Exploration Manager to oversee drilling and exploration activities.Torrens Energy has commenced the development of its 3D Temperature Field Model (3D-TFM) at its wholly owned Parachilna Prospect in the Company’s recently drilled Torrens Project Area north of Port Augusta, South Australia (ASX Announcement 25 February 2008). The development of the 3D-TFM Project is supported by a $3m Grant under the Australian Government’s Renewable Energy Development Initiative(REDI).Torrens Energy has signed an agreement with the University of Adelaide to complete the 3D geological model required, and with Hot Dry Rocks Pty Ltd to complete the final 3D temperature modelling. The construction of the 3D-TFM for the Parachilna Prospect is expected to be completed by Q3 2008.The results of temperature modelling completed in February 2008, at the newly drilled Parachilna Prospect, show that temperatures of over 200°C are achievable at approximately 4000m depth.These resultsare higher than temperatures currently being exploited for “hot rock” geothermal power in Europe, and among the highest being evaluated in Australia.Temperature results from this drilling campaign are still being returned. Parachilna Prospect - Geologically Favourable Heat ExchangerPreliminary geological modelling has shown that the target heat exchanger reservoir at Parachilna, expected at approximately 4000m depth, corresponds to predicted “basement” geology. This geological setting is analogous to the Cooper Basin, which is in the process of being successfully engineered to support a large heat exchanger.Furthermore, recent technical work completed by Green Rock Energy at their nearby Olympic Dam Project shows that a highly favourable stress regime exists, enabling probable effective fracturing of the target geothermal reservoir. It is considered highly likely that these favourable geological conditions, successfully being tested in the Cooper Basin, will extend to the Parachilna Prospect.