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September 26, 2010 | admin | Comments 0

Green Rock gets $7 million drilling grant

In Australia, Green Rock Energy has received a $7 million injection from the Commonwealth Government, under the Geothermal Drilling Program. Under the agreement, Green Rock is required to secure additional funding from other sources. Receipt of that funding, expected in November, will allow the first well to be drilled in the first half of 2011. Richard Beresford, Green Rock managing director, was quoted as sayings, “This is a significant step towards funding our proposed project at The University of Western Australia’s Crawley Campus where we plan to drill two wells and test the system water flow to prove that commercial quantities of geothermal energy can be delivered from depths of about 3,000 metres.”

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