HRL 5.00% 10.5¢ hrl holdings ltd

hot rock venture.

  1. 359 Posts.
    I don't even have this Hot Rocks Ltd. Co. on my watch list or recall hearing of them but they have announced a move into Germany.
    This from AAP.News this morning -:

    RWE 09:55:00 7058 10/11/2008 (AEHRL) Hot Rock to acquire Bernried Erwarme assets
    RWE News
    9:55:020 10/11/2008

    Sydney - Monday - November 10: (RWE Aust Business News) - Hot
    Rock (ASX:HRL) has completed technical and due diligence and will acquire
    the key assets of Bernried Erwarme, a German geothermal company.
    Settlement is scheduled for mid December.
    The consideration is a combination of cash, Hot Rock shares and
    options with payments matched against project milestones.
    Planning for the first combined heat and power plant on the
    Bernried licence is advancing.
    Bernried holds the right to develop the geothermal licence, 40km
    south of Munich.
    The first plant will be based on four wells with generation
    capacity of approximately 9MW and integrated provision of thermal energy
    for district heating.
    The project is expected to have annual revenue broadly equivalent
    to an Australian 80MW coal-fired power station under current Australian

    What caught my attention was the projected 'efficiency' if you like. "4 wells to produce 9MW"'
    That doesn't sound too special alongside GDY's '9 wells
    to produce 50MW'.
    What sounds rather better though is the profitability, & I think I have heard that Europeans generally pay somewhat higher rates for power, but what about the bit,
    " the project is expected to have ann. revenue equal to an Ausralian 80MW coal fired power station!"

    Over to our power industry engineers to throw light on this one.

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