Republic of Vanuatu:

Vanuatu Geothermal Project Advances (News Release)

Map of Efate Island, Vanuatu showing Production
Licence area (black) and the location of identified
resource targets A, B and C [Takara]

Geodynamics Limited reports that the Takara Community and Geodynamics have signed an agreement enabling the first stages of the exploration phase of the Takara Geothermal Power Project to commence.

The company would commence an independent Environmental and Social Impact Assessment (ESIA), community mapping and land valuation works.

The Takara Geothermal Power Project was acquired by Geodynamics following the take-over of KUTh Energy Limited in December 2013. KUTh Energy Vanuatu, a wholly owned subsidiary of Geodynamics, holds a 30 year Production Licence with exclusive rights to develop geothermal energy from an identified prospective geothermal area located on the north of the main island of Efate.

The Project has potential to supply cheaper and more reliable power to the expanding Efate network than current diesel generation. The resource at Takara has been investigated using surface based geoscientific methods, including geology, geochemistry and geophysics. The development is planned to be progressed in two stages of 4 MWe for 8 MWe in total.

Exploration drilling to confirm the resource is targeted for mid 2014, with production drilling and plant construction set for 2015, given successful exploration results this year.

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