Description
Panax Geothermal is a pure geothermal company with access to some of the worlds most promising geothermal assets. As climate change projections worsen, Panax Geothermal is well positioned to commercialise sustainable sources of base-load energy, powered from the Earth.
The long term vision of Panax is to become a major participant in the geothermal industry, both nationally and internationally. The scope of its geothermal interests will be broad, including both conventional geothermal resources (volcanic related) as well as enhanced geothermal systems (EGS) such as hot fractured rock (HFR) geothermal systems.
Share Price
Recent Panax Geothermal news
- 16/03/2010 New drill record for Panax Geothermal Salamander-1 well
- 09/03/2010 Panax Geothermal Salamander-1 well at 3,330 metres depth
- 05/03/2010 Panax Geothermal well drilling closer to target depth
- 05/03/2010 Panax Geothermal well drilling closer to target depth
- 02/03/2010 Drilling progressing at Panax Geothermal's Salamander-1 well
Presentations & Company Media
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Related Research & Media
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Company Statement:
The nature of our business is the identification and exploration of prospective geothermal resources and to convert these into geothermal reserves for the production of commercial geothermal energy. Geothermal power generation is not dependent on new technology (i.e. no new technology risk). The risks of our endeavours are directly related to the conversion of geothermal resources to economic geothermal reserves, i.e. the economic extraction and utilisation of geothermal energy. In that sense it is very similar to risks associated with mineral or oil/gas exploration.
The Company will not only focus on clean power generation but will also embrace direct use of geothermal heat for use in e.g. industry, district heating (or cooling), and desalination.
The rationale for focusing on geothermal energy is directly linked to the threat of global warming as caused by CO2 emissions from the continued use of fossil fuels. National and international momentum is building for a ‘climate change pact’ and this foreshadows that clean energy generation is the key to our future.
Geothermal energy is one of the very few sustainable sources of energy which can replace base load power from fossil fuelled power stations. Compared to other sustainable energy options, geothermal resources are still not valued according to their commercial potential for the long term generation of clean base-load power. This is the opportunity which Panax aims to turn to good account.
What is Geothermal Energy?
Geothermal energy literally means – earth heat – or heat from the Earth. This energy is stored in the Earth’s crust. It is a clean and an environmentally sustainable natural resource which is ready to play an increasing role in meeting the world’s urgent needs for clean energy.
The planet Earth is a dynamic thermal engine with most of the heat originating from radioactive decay from deep within. Without this phenomenon, the Earth would have ‘frozen’ into a solid, devoid of any life. Instead, the Earth is in a state of continuous change and renewal, creating new crust whilst at the same time consuming existing crust. This fundamental geologic process is known as plate tectonics.
Current Operations:
Limestone Coast Project, South Australia
This advanced and highly prospective geothermal project is the principal and primary asset of Scopenergy Pty Ltd (“Scopenergy”), a company acquired by Panax in October 2007. This unique geothermal project was developed on the basis of a new and innovative exploration model, targeting ‘blind’ geothermal resources in sandstone units in an area of high heat flow in the Otway Basin. [READ MORE]
Puga Project, India
This advanced and relatively low risk geothermal project is located in the Puga Valley, 140km east of the tourist town of Leh. The project is located in a barren valley above the tree line. Drilling carried out by the United Nations Development Programme in the 1980’s has confirmed the occurrence of extremely high geothermal gradients and the presence of a shallow geo-pressured geothermal reservoir (e.g. 125oC at depths of less than 300m).[READ MORE]
Krishna-Godavari Project, India
In August 2007, GPP was granted the exclusive exploration rights for geothermal resources in the State of Andhra Pradesh, including the right to drill shallow and deep geothermal wells. The Godavari-Basin has a sound geological database, including seismic and gravity data as well as some deep oil/gas wells located in a delta, near the coast.[READ MORE]
Kyrgyzstan Ptroject
This Central Asian country is endowed with widespread occurrences of thermal springs as well as high heat producing granites. It is a net exporter of hydro electric power to neighboring countries and has a well developed high voltage transmission grid in close proximity to geothermal areas of interest. [READ MORE]
Slovakia
Slovakia is characterized by a high supply/demand gap for electricity, with very attractive electricity tariffs in place to encourage the development of Slovakia’s geothermal generating potential. [READ MORE]
Management
DIRECTORS
Mr Greg Martyr - Non-executive Chairman
Dr Lambertus de Graaf - Managing Director & CEO
Mr Kerry Parker - Executive Director, Company Secretary & CFO
Mr Stephen Evans - Non Executive Director
Ian Reid - Non Executive Director
MANAGEMENT
Dr Lambertus de Graaf - Managing Director & CEO
Mr Kerry Parker - Executive Director, Company Secretary & CFO
Ron Palmer - Chief Operating Officer
Donna Gallaher - Group Finance Manager
David Jenson - General Manager, Geothermal Engineering
Major Shareholders
For shareholder and investor information on Panax Geothermal please CLICK HERE
Contact Information
Ground Floor
20 Railway Terrace
Milton, Qld, 4064
Australia
Postal Address:
PO Box 2142
Milton BC
Milton, Qld, 4064
Communications
Tel: + 61 7 3512 7000
Fax: + 61 7 3512 7099
Email: info@panaxgeothermal.com.au
Corporate Information
No info available.
