Clarence Moreton Project - EL 7146

The Clarence Moreton licence (EL 7146) covers 1,938km2 and is centred on the rapidly growing Northern Rivers towns of Casino and Lismore.

Situated 65 km southeast of the Gold Coast and 130 km from the large electricity market of Brisbane, this is a region forecast to face electricity supply limitations in the next few years. Primary National Electricity Market (NEM) electricity transmission lines also pass through the Clarence Moreton tenement.

Clarence Moreton location map

The tenement encompasses a large portion of the Clarence Moreton sedimentary basin that hosts thick, thermally insulating sequences of coal and naturally permeable aquifers. A large, potentially heat producing, granite has also been modelled in the basement below depths of 3,000 metres.

In addition the project will benefit from a large database of historic petroleum wells and geophysics in the basin. It is anticipated that this data will assist in the calculation of a code-compliant, inferred geothermal resource.

Modelling of well data indicates temperatures of 130 to 190°C could be encountered at depths between 2,200 and 3,200 metres - well within the commercial 'window' for using off-the-shelf technologies.

At these depths, Planet Gas is targeting known sands and basal conglomerate sequence that could act as high permeability geothermal reservoirs. This modelling highlights Clarence Moreton as one of the shallowest on-grid HSA targets in Australia.

Clarence Moreton Cross Section Model

Footnote
The information in this report that relates to exploration results or resources is based on information compiled by Dr. Richard Haren who is a Member of The Australasian Institute of Mining and Metallurgy and who has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr. Richard Haren is self employed and has consented to the inclusion in this report of the matters based on his information in the form and context in which it appears.