Earth Heat Operations In East Africa

(Horntrade) – Djibouti – resource review due February 2012

Earth Heat has operations in several African countries as well, and continues to explore value-adding options for taking its Fiale Geothermal Project (Fiale) forward, which is located in Djibouti.

The company is already eyeing one or more potential joint venture partners, with commercial negotiations to continue and no particular outcome is certain.

Marshall added, “The company has really taken some major steps in undertaking this large project by introducing potential Joint Venture partners and we work diligently to bring such discussions to a conclusion.

“A formal review of the Fiale Geothermal resource is to be completed by February 2012 and we look forward to announcing a maiden resource statement for the project to demonstrate to our shareholders why the company has made such a significant commitment to the area.”

Kenya – initial project to be announced

The company has previously signalled an intention to grow its business in the most strategically important “Geothermal Country” in East Africa.

This commitment has extended to the lodgement of an exploration licence application over a specific area where Earth Heat sees enhanced development potential.

Whilst the outcome of this process remains uncertain, but the Company remains confident that it will be able to establish a cornerstone project in Kenya in the short to medium term.

Marshall commented on operation in the country, saying, “Kenya represents the final pillar supporting the future of Earth Heat and rounds out its risk management in terms of sovereign and project risks.

“The company has been engaged in a number of fantastic conversations with significant and strategic Joint Venture partners and looks forward to announcing its initial project entry into such a prospective country.”

 

Source: proactiveinvestors.com.au

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