The proposed contract, which is subject to agreement on terms and final negotiation, is for an initial two years with the potential to add a further two-year extension based on mutual agreement.
Rheochem CEO Haydn Gardner said that Rheochem’s technical team developed ultra high temperature drilling fluids for this program and the company looks forward to the utilization of these fluids on this project and for other international geothermal applications.
Geodynamics holds geothermal licenses over highly prospective areas in South Australia, New South Wales and Queensland,
The company’s current focus is on commercializing the extraction of energy from its geothermal tenements near Innamincka in South Australia’s Cooper Basin.
