In a recent announcement, “Torrens Energy (ASX:TEY) has reported promising preliminary temperature results from intermediary depth validation drilling at its most advanced geothermal play, the Parachilna project in South Australia.

A temperature reading of 94.7 degrees C was returned at a depth of 1653m on the recently completed seismic line where basement has been interpreted between approximately 3000-4500m.

The temperature was recorded at the bottom of the hole after drilling had ceased for 24 hours, whereby an increase of less than 0.1 degrees C over that 24 hour period was recorded.

A final geothermal temperature gradient and heat flow estimate will be provided once the well has been allowed to equilibrate.

Drilling expenditure is match funded by a federal government Renewable Energy Development Initiative (REDI) grant, awarded in 2007 for AU$3m.

The grant covers the development of the company’s innovative temperature field modelling methodology (3D-TFM).”

Source: Company announcement via iStockAnalyst