Terra Energy announces effort to fund Indonesian geothermal project
Monday, July 12 2010 - 09:38 PM WIB
US energy minnow listed at Pink Sheets Terra Energy Resources Limited announced on Monday it has issued 15 million new shares to raise US$5 million to fund development of a geothermal project in Indonesia.
The Company has entered into negotiations with Jala Tekno Geothermal for potential areas of mutual cooperation. Jala Tekno is a subsidiary of Pandawa Energy, a renewable and geothermal energy holding company based in Jakarta.
Tekno has already drilled a steam well, that has been evaluated to produce more than 6 megawatts of steam in a field that holds geothermal resources in the range of 75 MW to 150 MW, the Company claimed without giving detail of the geothermal field location. (alex)