Seeing Green in Gippsland

COAL seam methane explorer Greenpower Energy has signed a coordination agreement with geothermal company Greenearth Energy to combine Victorian exploration activities including drilling and data acquisitions.
Seeing Green in Gippsland Seeing Green in Gippsland Seeing Green in Gippsland Seeing Green in Gippsland Seeing Green in Gippsland

The agreement will result in cost reductions for both companies and is based on the coordination agreement Greenearth has with Lakes Oil NL, Greenpower said.

Greenpower is exploring and developing a suit of CSM tenements across Australia and has seven permits in the Gippsland Basin.

These permits are in direct interest to Greenearth's geothermal exploration and overlap with its geothermal permits GEP12 and GEP13, Greenpower said.

Greenpower floated on the Australian Securities Exchange in February 2008 and has indicated in its prospectus the intention for data acquisition in the Gippsland area.

The data extracted will help Greenpower identify areas of large coal seams for CSM production, Greenpower said.

Greenpower added that both companies look forward to a productive working relationship in the future.

loader