Green Rock Energy Limited (ASX:GRK), formally Mokuti Mining Limited has acquired Perilya Geothermal Energy Pty Ltd & Green Rock Energy Pty Ltd which each own a 50% share of five geothermal exploration licences around the Olympic Dam area covering 2200 square kilometres.

Green Rock Energy will start drilling investigation wells in the 2nd quarter of 2005 and subject to good results will drill it’s first geothermal exploration well in 2006.

Projects abroad : Hungary

Green Rock Energy, after acquiring Vulcan Geothermal Pty Ltd has a 32% interest in the Ortaháza project joint venture in Hungary. Other partners include the Hungarian oil and gas company MOL (36%) acting as operator, and Enex hf (32%), a geothermal consulting and development company.

The JV company is testing existing shut oil wells provided by MOL for the harnessing of Geothermal Energy. Two wells (Ortaháza -3 & Ortaháza -5) have been selected with the JV aiming to generate about 2.5MW in 2005.

Technical Announcements :

» Ortahaza Project – Short Term Production Testing - 16th March 2007.
» Ortahaza Project – Short Term Production Testing - 20th February 2007.
» Update of Testing Program at Ortaháza Geothermal Project in Hungary - 19th January 2007.
» Orthahaza Geothermal Project – Production Testing to commence - 8th January 2007.
» Green Rock Energy extends activities to Hungary -13th October 2006.
» Potential for 1000MW’s of renewable geothermal power at Olympic Dam - 8th November 2005.
» Promising First Drilling - 23rd September 2007.
» Green Rock applies for new GEL near Olympic Dam - 12th August 2005.
» Green Rock Energy Spuds first exploration well - 21st June 2005.

Geothermal Resources currently holds the following GELs :

GEL128 - South Australia, 308 square kilometres, expiring 1-Jun-2009.
GEL129 - South Australia, 408 square kilometres, expiring 1-Jun-2009.
GEL161 - South Australia, 496 square kilometres, expiring 1-Jun-2009.
GEL162 - South Australia, 488 square kilometers, expiring 1-Jun-2009.
GEL163 - South Australia, 497 square kilometers, expiring 1-Jun-2009.

GEL206 - South Australia, 494 square kilometers, expiring 1-Jun-2010.
GEL213 - South Australia, 206 square kilometers, expiring 1-Jun-2011.

GELA164 - South Australia, 182 square kilometers, application under consideration.
GELA165 - South Australia, 90 square kilometers, application under consideration.