“The final pre-drill preparations, including operations such as picking up drill pipe and mixing mud will be carried out over the weekend,” Geodynamics said.

“Drilling will commence at the start of next week.”

Habanero-3 will be Geodynamics’ first commercial scale production well, expected to lead to the first formal proving of geothermal reserves by year-end.

The $32 million Lightning Rig is the most powerful onshore rig in Australia, capable of drilling to depths of around 6000m.