Transcript Slide 1
Green Rock Energy Limited
Annual General Meeting
Adrian Larking, Managing Director
26 November 2007
Disclaimer
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warrant that the information contained herein is accurate or up to date.
The information on these slides is based on publicly available
information, internal data and information from other sources. It is not
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information is not a substitute for detailed investigation or analysis.
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Slide 2
Green Rock Energy Ltd
- Corporate Overview
Australian company, listed on Australian Stock Exchange
(code “GRK”)
Market Capitalisation:
– A$19.2 million
Options
– 40 million options
– 10 cents (April 2008)
Shareholders
– 2,200
– Top 20 (34%)
– Directors (7%)
Slide 3
Green Rock Energy Ltd
- Business Overview
Developer of commercial geothermal energy projects
Long life resources supplying long life markets
Australian Geothermal Projects (100% interest)
Hungarian Projects (32% interest)
Slide 4
Geothermal Energy
- Recovering the Earth’s Natural Heat
1.
Hot Water
– in natural reservoirs
– known as “Conventional ” or “Hydrothermal” systems
Hot Rocks (EGS)
2.
– Hot Dry Rocks
Slide 5
Geothermal Resources
Slide 6
Geothermal Energy
- Why geothermal energy?
Conventional Geothermal Energy technology is well proven
Advantages of Geothermal Energy
Varied uses – electricity, direct heat applications
Renewable energy – access to carbon credits
Domestic source of energy
Base load, long life, power source – high availability >95%
50,000 times energy of known world oil & gas reserves (US Dept Energy)
Technology driving costs down c.f. fossil fuel prices increasing
Attractive to green/ethical funds
Sub-surface Tasks
Both Conventional & EGS - sustainable water circulation flow rate
EGS - fracture stimulation to create a large underground reservoir
Slide 7
OD Geothermal Energy Project (100%)
Location (2,899 km2)
Slide 8
OD Geothermal Energy Project
Past Activities
Blanche No1 well
– Sited 5km from power grid on seismic line
– Drilled, cored & logged to 1,935m
In-situ stress analysis (CSIRO)
Temperature measured beneath & around mine
Well production capability (GeothermEx)
Confirmed
–
–
–
–
Slide 9
Suitable temperatures in granite host
Extensive volume of homogeneous granite
Large potential resource
Likely horizontal flow direction
OD Geothermal Energy Project
Evaluation & Development Phases
2008
– Mini hydro-fracture of existing
slim hole well
– Design first of two deep wells
– Drill 1st production well
– Fracture stimulate 1st well
2009
– Drill 2nd production well
– Fracture stimulate 2nd well
– Flow test fractured reservoir
2011
– 3 to 5 MWe Pilot Power Plant
2013
– +20 MWe modular plants
Slide 10
OD Geothermal Energy Project
Comparison with other EGS Projects
Project ownership
Site location
100% by Green Rock Energy Ltd
Next to power demand and transmission grid
Potential resource Drilled into hot granite and confirmed temperatures
Establish water circulation
Water supplies
Adequate water for flow circulation & cooling
Infrastructure
Roxby Downs township and services
Connection to electricity grid
Scaled development
10kms from grid
Immediate access to market
Experience Conventional & EGS (above & below ground)
Slide 11
Patchawarra Project (100% interest)
Location (1,483 km2)
Slide 12
Patchawarra Project
Location selection
Patchawarra Trough, Cooper Basin
geological formations prospective for hot geothermal water
Prospective aquifers reach a thickness in excess of 1,200m
at depths in excess of 3,000m
To be evaluated and developed in conjunction with the construction of an
electricity distribution network connected to the Cooper Basin
Slide 13
Upper Spencer Gulf Project (100% interest)
Location (1,938 km2)
Slide 14
Upper Spencer Gulf Project
Location Selection
6 geothermal exploration licenses & two applications
Early stage of evaluation of the granites for EGS
Evaluating direct use of geothermal heat source for a
desalination plant
Slide 15
Green Rock Energy Ltd
- Projects
Hungary Geothermal Energy Project
(32% interest)
Slide 16
Hungary Geothermal Energy Project
Why Hungary ?
Good resource potential
– high regional heat flow
– hot waters intersected in drilling
Extensive database
Supportive legislative regime
– attractive feed in tariff pricing
€90 /MWh (c.f. Australia:
A$50/MWh)
– guaranteed access to market
Member of European Union
World Bank backed risk
insurance
Slide 17
Hungary Geothermal Energy Project
Joint Venture (32%)
Joint Venturers
MOL - a major Hungarian oil & gas company
Enex hf - a major Icelandic geothermal operating
& consulting company
Green Rock Energy Limited
Scope
Testing of existing hydrocarbon wells or new wells
Generate a pipeline of geothermal projects
>100 MW electricity + direct heat capacity
1st Site drilled
Suspended (usable for direct heat)
Currently selecting 2nd & 3rd sites
Slide 18
Summary
Commercially driven company
A renewable energy that provides continuous energy
Evaluation and development approach minimizes risk
Ability to develop projects in stages
Both Conventional & EGS geothermal projects
In a market that will only get more focus
International geothermal experience
New incentives announced by governments
Slide 19
THANK YOU
Slide 20