Torrens Energy reports hot geothermal prospects

Unley, Australia's Torrens Energy announced today what it called "outstanding" preliminary temperature results at its geothermal project area in South Australia.

The company said exploration drilling returned averages of 240 degrees Celsius at depths of 5,000 meters using temperature modeling, which Torrens said is higher than temperatures currently being used in Europe.

"One of the most exciting aspects of these results is that they are from drillholes that are adjacent to each other, indicating that the results may be highlighting a continuous region, and delineate a larger heat anomaly than anticipated," said Chris Matthews, CEO of Torrens.

"This could become a major discovery right next to the power grid in South Australia."

The company said it's completed drilling four holes and started on further three drillholes over 2,000 kilometers deep.

Torrens said the exploration is supported by a matching Aus$3 million federal government grant under Australia's Renewable Energy Development Initiative.

The hot rock site, north of Port Augusta, covers over 2,000 square kilometers.

Torrens, a hot fractured rock geothermal exploration firm, has 15 geothermal exploration licenses for over 7,100 square kilometers in South Australia. The company also has two geothermal permits in Victoria.