Daily Archives: April 2, 2007

Torrens Energy’s IPO

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Australian of the Year 2007, Tim Flannery, suggested that Geo Thermal Energy could be a good bet for Australia. Taking this idea a step forward, Torren’s Energy debuted on the Australian Stock Exchange with a over-subscribed IPO.

Environmental Management News reports:

Torrens Energy’s chief executive Chris Mathews said the company’s licences cover a region where geological conditions, infrastructure and large energy markets coincide to create an exceptional opportunity.

“The unusually hot rocks known to occur in South Australia represent a vast, untapped reservoir of energy and we have been the first to recognise this in areas close to Adelaide,” he said. “Unlike most other geothermal exploration within Australia, our highly prospective GELs are close to established electricity markets already experiencing supply pressures.”

“Standing apart from other sustainable energy sources such as solar, wind and waves, geothermal energy can offer 24/7 base-load power with no fuel, no emissions and no waste,” said the company.

The share price opened with a premium of 75 percent to the offer price of 20 cents a share.

Sydney’s Earth Hour – 2

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The Sydney Earth Hour happened over the weekend. The papers and news report that it has been a very successful event.

John Huxley writes in the Sydney Morning Herald that it is “at the very least, a good time to pause, to reflect upon the problem of global warming and how it might be arrested.” It has been a good marketing event for the organiser, the World Wild Life Fund, which is planning a international event.

I wrote earlier that, if this is not followed by sustainable actions and systems it will be a useless exercise. What is needed to be seen is whether this translates to a better understanding of the issue in Sydney and other parts of the world and if this event helps in marketing the problem better.