Old 06-15-2009, 08:17 AM
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Default Petratherm gets $7m drilling grant

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Paralana Joint Venture Update
$7 million Drilling Grant Funding Agreement Signed

Petratherm and its joint venture partners, Beach Petroleum and TRUenergy Geothermal are pleased to announce the recent signing of the Grant Funding Agreement relating to the $7 million Geothermal Drilling Program.

The grant was awarded to the Paralana Joint Venture Project by the Commonwealth Government Department of Resources, Energy and Tourism.
The $7 million grant has been awarded to the project for drilling the two deep wells involved in the HEWI proof of concept work (refer diagram below) soon to commence at the Paralana geothermal site in the northern Flinders Ranges.

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