Australia:

Geodynamics and Beach Energy Sign Exclusivity Deal for Power from Innamincka (The Australian)

1MWe Habanero Pilot Plant at
Innamincka

Geodynamics Limited has signed an Exclusivity Agreement with Beach Energy Limited to potentially supply geothermal power from its exploration tenements located at Innamincka, South Australia.

Under the agreement, geothermal power could be supplied to gas projects being developed by Beach Energy near Innamincka.

Geodynamics has granted Beach an exclusive right to negotiate a farm-in agreement to the geothermal licences held by Geodynamics for up to an 18-month period.

Geodynamics will now undertake a research program to investigate the use of geothermal resources to supply heat and/or power to potential gas developments in the area. This research program is to be completed within 12 months.

Beach Energy will contribute $200,000 towards the cost of the research program, with this amount fully refundable if a farm-in agreement is not agreed between the companies by the end of the exclusivity period.

Read More.....