Geodynamics increases flow rates at Cooper Basin geothermal well

(MENAFN- ProactiveInvestors - Australia) Geodynamics (ASX: GDY) has achieved higher flow rates and flowing pressure with the second open flow test at its Habanero-4 geothermal well in the Cooper Basin. The test achieved an average production rate of 38 kilograms per second (kg/s) at a flowing pressure of over 4,200 psi after local stimulation was completed. The local stimulation saw 1,900 cubic metres of water pumped into the well over a two day period. Major stimulation has now commenced to extend and enhance the known fracture zone. This is expected to be completed in early December. Geodynamics has a 70% stake and is the operator, with Origin Energy (ASX: ORG) a 30% stake.