Thursday, May 5, 2016

Australia: End of the Line for Petratherm Geothermal Exploration

Petratherm’s life as a geothermal energy explorer is over (The Advertiser)

Petratherm’s life as a geothermal explorer and Adelaide-based company is soon to be over with a technology company planning to take it over.

Victorian human resources technology company MS-Gooroo has struck a deal with Petratherm to backdoor list into the company.

It will be renamed Gooroo Ventures and current executive director Terry Kallis will leave the company.

Gooroo is a technology company which uses big data, machine learning and “sociometrics’’ to match and shortlist candidates for companies looking to hire staff.

Petratherm listed in July 2004 and was one of the leading lights of the push to develop engineered geothermal energy in South Australia. The company sunk one 4km well at its Paralana project in the northern Flinders Ranges in 2009 but was unable to raise sufficient funds to drill a second well.

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