Raya Group

Raya Group
Public
Traded as (ASX: RYG)
Industry Geothermal energy
Headquarters Queensland, Australia
Key people
 Dr Lambertus de Graaf, CEO
Website http://www.rayagroup.com.au/
Footnotes / references
[1]

Raya Group (ASX: RYG), formerly Panax Geothermal Ltd,[2] is an Australian geothermal company based in Queensland. Its focus is on exploring existing reservoirs containing hot geothermal fluids. In March 2010 it succeeded to drill the first geothermal well in Australia to test a Hot Sedimentary Aquifer, at the Penola Project, in South Australia. The project received a $7 million federal government grant.[3]

In October 2010 the company acquired 45% of the Sokoria geothermal project on Flores island, Indonesia. The reservoir has temperatures above 230 °C at 2 km below the earth's surface, and indication of a 100 MW power source for the next 30 years which could replace current diesel electricity generation.[4]

In May 2013 the company changed its name to Raya Group.[2]

See also

References

  1. ↑ PANAX: Annual Report 2010
  2. 1 2 Proactive Investors: "Panax Geothermal changes name to Raya Group", May 02, 2013
  3. ↑ Angela Harper:Panax geothermal strikes steam in SA in The Sydney Morning Herald April 6, 2010, retrieved 26 October 2010
  4. ↑ Meredith Booth:Panax buys stake in Indonesian project in The Advertiser October 20, 2010, retrieved 26 October 2010

External links

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