Greenvale & CeraPhis Geothermal Energy Focus

CeraPhi Energy has completed an initial feasibility study, as detailed in the ASX announcement on May 11, 2023, in collaboration with Greenvale Energy Limited (ASX: GRV) to assess geothermal energy potential in Queensland, particularly in the Longreach area. The study evaluated the effectiveness of CeraPhiWellTM technology in generating power and concluded that it could support a 4.95MWe plant in the Longreach region, leveraging the ample geothermal heat source. However, the study also determined that geothermal exploration beyond 3,000 meters in depth would not be economically viable at a small scale.

Therefore, the focus will now shift to the Millungera Basin, where the target depths are 2.5-3 kilometers and there are large-scale regional power requirements. This move aligns with the significant investment in transmission infrastructure, mining, and industrial development already in progress in the Millungera Basin. The proposed next steps include exploring the Millungera Basin permits, assessing optimal well depth and cost implications, seeking cost mitigation strategies, conducting a detailed subsurface review, and exploring potential partnerships for energy production.

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