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8.1 Figure 8.1 Geothermal licences, applications and gazettal areas as at 31 December 2010. Highlights and Achievements for 2010 Panax Geothermal Ltd drilled its first well Salamander 1 to reservoir depths (~4000m) to test their Hot Sedimentary Aquifer (HSA) resource within the Pretty Hill Formation of the Otway Basin in south-eastern South Australia. Geodynamics Ltd undertook hydraulic stimulation of the Jolokia 1 well (at ~ 4400 – 4700 metres depth) in South Australia‘s Cooper Basin near the town of Innamincka. At 31 December 2010, a total of AU$3,073 million (US$3207 million) in work program investment is forecast for the period 2002 to 2015. An estimated AU$679 million (US$708 million) of this forecast was invested in the term 2002 to 2010. These forecasts are based upon current proposed exploration work programs and exclude capital expenditure associated with demonstration power plants. However, not all projects may continue to the completion of their tenure A total of over AU$187 million (US$195 million) in Commonwealth geothermal grant contracts were executed during 2010 under the Geothermal Drilling Program (GDP) and the Renewable Energy Demonstration Program (REDP). The Australian Government‘s primary mechanism for stimulating investment in renewable energy is the expanded Renewable Energy Target (RET). To help provide greater certainty to developers of large-scale renewable energy generation projects the 78PDF Image | Geothermal Research and Tech IEA
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