The Paralana Engineered Geothermal Project – Latest Developments Reid P.W., Messeiller M, Hasting M. and Albaric J. GMUSG & SACOME Resource Industry Conference August 2 013 p e t r a t h e r m Exploring for Sustainable Energy
Disclaimer and competent persons statement Disclaimer Any forward-looking statements included in Petratherm makes no representation or this document involve subjective judgment warranty as to the accuracy, reliability or This presentation has been prepared by and analysis and are subject to uncertainties, completeness of information in this document Petratherm Limited (Petratherm). The risks and contingencies, many of which are and does not take responsibility for updating information contained in this presentation is outside the control of, and maybe unknown any information or correcting any error or a professional opinion only and is given in to, Petratherm. In particular, they speak only omission which may become apparent after good faith. as of the date of this document, they assume this document has been issued. the success of Petratherm ’ s strategies and Certain information in this document has they are subject to significant regulatory, To the extent permitted by law, Petratherm been derived from third parties and though business, competitive and economic and its officers, employees, related bodies Petratherm has no reason to believe that it is uncertainties and risks. Actual future events corporate and agents ( “ Agents ” ) disclaim all not accurate, reliable or complete, it may not may vary materially from the forward looking liability, direct, indirect or consequential (and have been independently audited or verified statements and the assumptions on which whether or not arising out of the negligence, by Petratherm. the forward looking statements are based. default or lack of care of Petratherm and/or Recipients of this document ( “ Recipients ” ) any of its Agents) for any loss or damage are cautioned not to place undue reliance on suffered by a Recipient or other persons such forward-looking statements. arising out of, or in connection with, any use or reliance on this presentation or information. All amounts in Australian dollars (AUD) unless stated otherwise. Competent Persons Statement The information in this report that relates to Exploration Results, Geothermal Resources or Geothermal Reserves is based on information compiled by Peter Reid, who appears on the Register of Practicing Geothermal Professionals maintained by the Australian Geothermal Energy Group Incorporated at the time of the publication of this report. Peter Reid is a full time employee of the Company. Peter Reid has sufficient experience which is relevant to the style and type of geothermal play under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the Second Edition (2010) of the Australian Code for Reporting Exploration Results, Geothermal Resources and Geothermal Reserves. Peter Reid has consented in writing to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Petratherm overview Our company MADRID & BARCELONA Projects spanning Australia, Direct use heat, EGS & hydrothermal Spain and China CHINA Projects across the Exclusive TENERIFE & exploration GRAN CANARIA agreement Conventional spectrum of geothermal volcanic technology PARALANA & EAST GIPPSLAND Flagship project – Paralana EGS & HSA in SA ’ s northern Flinders Ranges
Petratherm Project Areas Northern Flinders Ranges (JV with Beach Energy) Lake Frome
Paralana Independent Resources Statement – Nov 2011 Depth Interval Inferred (PJ th ) Indicated (PJ th ) Measured (PJ th ) Total (PJ th ) (metres) <3,500 2,400 1,100 3,500 3,500 - 4,000 4,900 4,400 41 9,300 4,000 - 4,500 5,900 5,700 12,000 4,500 - 5,000 6,900 6,700 14,000 Total (PJ th ) 20,000 18,000 41 38,000 Paralana Joint Venture: Petratherm 79%, Beach Energy 21%. If remaining staged equity investments are met, Beach Energy may earn up to 36% . • Initial stimulated rock volume = 5.4 MWe power potential for 30 years • Paralana Resource at the 3500 – 4000 metre depth interval is estimated a 9,300 PJ th which is sufficient to generate 1,300 MWe of electrical power for 30 years The information on this slide that relates to Geothermal Resources is an extract from a report compiled by Dr Graeme Beardsmore, who appears on the Register of Practicing Geothermal Professionals maintained by the Australian Geothermal Energy Group Incorporated at the time of the publication of this Slide. Dr Beardsmore is employed by Hot Dry Rocks Pty Ltd, an independent consulting group that provides professional services to Petratherm Ltd. Dr Beardsmore has sufficient experience which is relevant to the style and type of geothermal play under consideration and to the activity which he/she is undertaking to qualify as a Competent Person as defined in the Second Edition (2010) of the ‘Australian Code for Re porting Exploration Results, Geothermal Resources and Geothermal Reserves’. Dr Beardsmore has consented in writing to the inclusion on the slide of the matters based on his information in the form and context in which they appear.
Resource Development Model – Heat Exchanger Within Insulator (HEWI), and Fractures at Basin-Basement Interface (FABBI) Targeting Fracture Permeability in › Mesoproterozoic metasediments - bedding / joint surfaces (HEWI model) › Fracture Permeability at Basin / Basement Interface (FABBI model)
2D seismic interpretation suggests faults and fractures may be regionally extensive below a thick quartzite sequence
Paralana 2 – Drilling New Weatherford Owned 2000HP Le Tourneau Lightning Rig 57 metres high ~ 10 Stories 85 Semi-Trailer Loads Spudded June 30, 2009 p e t r a t h e r m
Paralana 2 well summary › Depth 4003m (G.L. A.H.D.) › Well cased and cemented to 3725m › Extrapolated bottom hole temperature ~ 190 o C › High pressure geothermal brines intersected from 3680m › Zircon dating confirms 1585 ± 11 Ma Reservoir Sequence › Contains numerous fractures and faults › 6m perforated interval between 3679 and 3685m
Paralana 2 – Brine Intersected High torque, intervals of high ROP ’ s, drilling breaks and increase in well bore deviation Inflow of over-pressured geothermal brines between 3670 - 3864 m Shut in pressure indicated ~ 3,300 psi, of overpressure and mud system weighted up to 13.2ppg to stop flow. Well bore stability problems limited wire line logging to LWD measurements to 3725 m Numerous large Fractures/Faults Intersected!
Passive seismic array MEQ - Array Managed by IESE 1 deep borehole sonde at 1800m in Paralana 1b 6 borehole sondes ~ 200m 10 surface seismometers 4 accelerometers
Fracture Stimulation – Key Statistics › 3.1 million litres injected › Injection rates: 3.2 - 27 l/sec › Equilibrium WHP prior and post operation 3940 psi. › Acid treatments allow higher pumping rates. › Sand proppant successfully placed Photo: courtesy Advertiser, July 2011 at end of the treatment.
Fracture Stimulation – Pressure and flow rate Note - This pressure rise is only at surface, not downhole
Micro-seismic events – main fracture › MEQ array successfully recorded micro-seismicity: › 11,000 events triggered and located by MIMO › 4,351 events handpicked › Ground motion – acceleration and velocity – always within the safe limits established in the risk management plan. › Good correlation between pumping rates and micro- The first micro-seismic events appear on the screens at the micro-seismic monitoring centre seismic events at Paralana
Micro-seismic events N 3,200m 4,200m View North 3,200m 10-15 July Injection Data = Red 4,200m 15 July to 29 October 2011 Post Injection Data = Green View West Data courtesy of Hasting Micro-Seismic Consulting
Paralana – Fracture Stimulation • A complex frac shape – creating a 3D volume rather than along a plane, which may allow a high heat recovery factor • Natural fractures and brines present 3,200m • The fractured volume is an enhancement of the naturally fractured system • Reservoir is over-pressured which may 4,200m assist production flows View North
Paralana Flow Test, Oct 2011 • 1.28 million litres produced • Flow rate – 1 – 6 litres/sec • Bottom 200 metres - well fluid temperature 171 o C
Extraction model for a pumped EGS well Sanyal (Geothermex) et. al. 2007* Net MW Capacity of a Pumped Well vs Temperature (Binary Cycle Power Generation) independent expert paper reports : Standard industry pump operating Source: Sanyal et. al. (2007) temperature limit is ~ 190 o C Net power Capacity of Geothermal Wells versus reservoir Temperature – A Practical Perspective Max MW per well ~7.3MW (unless pumps improve on setting depth and pump rate) Paralana Extraction Model : Targeting optimal temperature parameters to maximize output of a pumped EGS well Temperatures of 190 o C confirmed at 4,000m JV decision not to drill deeper than 4km based on cost/depth trade-off – validated Paralana target flow is 75 litres/sec or PI ~ 4 achieving a net capacity of 3.5 MW * Sanyal 2007 paper available for download at www.geothermal-energy.org/pdf/IGAstandard/SGW/2007/sanyal3.pdf
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