PETRATHERM LTD
$57 million TRUenergy Farm-In for Paralana
PTR - Quarterly Update - Mr Terry Kallis, Managing Director
Tue, 5 Aug 2008 05:00PM
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Mr Terry Kallis
Tue, 5 Aug 2008
05:00PM Australia/NSW
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 PETRATHERM LTD
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PTR - 2008 Annual General Meeting - Mr Terry Kallis, Managing Director Mon, 1 Dec 2008 02:00PM |
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PETRATHERM LTD (PTR)
ASX code: PTR
Website: http://www.petratherm.com.au/
Industry: Energy
Principal Activities:
Exploration for sources of geothermal energy.
Address:
105-106 Greenhill Road
UNLEY
SA
Phone: (08) 8274 5000
Fax: (08) 8272 8141
Executives & Directors
Mr Derek Carter , Chairman
Mr Terry Kallis , Managing Director
Mr Richard Hillis , Non Exec. Director
Mr Richard Bonython , Non Exec. Director
Mr Simon O'Loughlin , Non Exec. Director
Mr Donald Stephens , Company Secretary
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Announcements from the preceding six months are shown below.
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PETRATHERM LTD (PTR) Events
Australia/NSW
PETRATHERM LTD (PTR)
| Victorian Exploration Permit Awarded to Petratherm | Thu, 27 Nov 2008 |
| 2008 AGM - Chairman`s Address and MD`s presentation | Thu, 27 Nov 2008 |
| Results of Annual General Meeting | Thu, 27 Nov 2008 |
| Spain and China Projects Update | Mon, 17 Nov 2008 |
| Appendix 3B | Fri, 7 Nov 2008 |
| Quarterly Activities Report | Fri, 31 Oct 2008 |
| Quarterly Cashflow Report | Fri, 31 Oct 2008 |
| Annual Report to shareholders | Mon, 27 Oct 2008 |
| Notice of Annual General Meeting/Proxy Form | Mon, 27 Oct 2008 |
| CEDA 2008 Energy Overview Presentation | Fri, 24 Oct 2008 |
Please note: This company appears on this website as a result of its listing on the Australian Securities Exchange. Boardroom Radio does not claim any association with any company listed on this site.
INTERVIEW WITH TERRY KALLIS, MANAGING DIRECTOR OF PETRATHERM LIMITED (PTR)
“$57 million TRUenergy Farm-In for Paralana”
http://www.brr.com.au/event/49136
TUESDAY, AUGUST 5, 2008, 5:00 PM.
BRR Good afternoon and welcome to Boardroom Radio. Today, we are speaking with Mr. Terry Kallis, Managing Director of PetraTherm. Thanks for joining us
10 today, Terry.
PTR Thank you.
BRR Terry, we see you have released your quarterly report and that certainly has been a busy quarter. Can you just let our listeners know what some of the
15 highlights have been?
PTR I suppose the two main things are that we have been continuing to work on preparing for the next deep well at our Paralana project, our main project up there in the Northern Flinders Ranges. Basically, we have invested quite a bit of money in seismic surveys and magneto-telluric surveys that help us work
20 out with the best (inaudible) (0:00:37) in the world for the best probability of successful well and we have done that and we have included that in the quarterly. We have a highlight for the quarter with our Madrid pre-feasibility project for our geothermal district heating project just north from the city of Madrid and it showed that there was attractive return to be gained, so we
25 decided to pour quite a bit of more money and to do a full feasibility assessment. I expect to complete that within six months. Then, two years from now, basically producing revenues out of our Madrid district heating project.
30 BRR Terry, you were talking about the Paralana project, and also some fantastic news to come out of that is a joint venture project with TRUenergy. What does this mean for PetraTherm and what can we expect moving forward?
PTR I suppose, to start with, TRUenergy had farmed into our Paralana project as I said in the Northern Flinders Ranges and has a project that already has
35 existing joint venture partner in Beach Petroleum. Bringing in TRUenergy to that joint venture arrangement after the farm-in basically strengthens the whole project, because what we have is a group that is coming in that complements the skills of Beach Petroleum and complements the skills that we have in PetraTherm, Beach Petroleum brining a wealth of experience in
40 the subsurface, in the drilling and the fracturing, and TRUenergy basically bringing a whole wealth of experience in the generation transmission and selling and marketing of power. So there have been complementary sets of skills. Of course, TRUenergy also brings additional funding to the joint venture, so they bought in for up to 30% of the Paralana project for a sum of
45 up to $57 million. In addition to that, they will also be up for their equity project costs. So basically over time, moving from proving of the concept through to pilot plant and demonstration plant, TRUenergy can earn up to 30% of Paralana.
BRR Terry, if you could lastly touch on where to now for PetraTherm. What is going to be happening in the next financial year?
PTR Well, the next step for us is to drill a deep well at 4 kilometres, fracture rock and then find out actually where the fractures go, and then drill a second
5 deep well. We are right in the middle of securing a drilling contract, so we are negotiating that as we speak. So we are looking forward to the drilling and proving the concept of Paralana.
BRR Definitely some exciting times there at PetraTherm. Terry, we thank you very
10 much for your time today and we look forward to speaking to you soon.
PTR Thank you very much.
BRR That was Mr. Terry Kallis of PetraTherm Limited. If you have any questions about this broadcast or any other broadcast, please feel free to contact us on
15 brr@brr.com.au. I am Eddie (inaudible) (0:03:17) and thank you for listening to Boardroom Radio.
INTERVIEW CONCLUDED
Contact brr@brr.com.au for more information
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