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GEODYNAMICS LIMITED

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Geodynamics Limited : Habanero 4 drilling progress

04/25/2012 | 11:25pm EST
GEODYNAMICS

L I M I T E D

ASX ANNOUNCEMENT 26 APRIL 2012 Innamincka Deeps Joint Venture Habanero 4 drilling progress

ABN 55 095 006 090

Geodynamics Limited (ASX: GDY), operator of the Innamincka Deeps Joint Venture, is pleased to advise that it has cased and cemented the 406mm (16") section.

Since the last update, the Joint Venture experienced a delay in operations, due to the need to repair and replace items of surface equipment damaged during routine equipment testing, prior to casing and cementing the 406mm (16") section. The Joint Venture is currently preparing to drill ahead in the 311mm (12 ¼") section.

For further information, please check our website (www.geodynamics.com.au) or contact Mr Geoff Ward on + 61 7 3721 7500. Media and investor inquiries may also be directed to Meredith Bird, Corporate Affairs Manager on +61 7 3721 7581.

Geoff Ward Chief Executive Officer and Managing Director - ends - About Innamincka 'Deeps' Joint Venture

Participants in the Innamincka 'Deeps' Joint Venture, which focuses on higher temperature Enhanced

Geothermal Systems (EGS) greater than 3,500 m depth are: Geodynamics Limited (Operator) - 70%

Origin Energy Geothermal Pty Ltd* - 30%

About Geodynamics

Geodynamics is the leading Australian geothermal exploration and development company. Geodynamics possesses some of the best geothermal resources in the world and is rapidly
developing technology to exploit the resource. Geothermal energy has the potential to be a critical
element of Australia's future power generation and Geodynamics is at the forefront of development.

About geothermal energy

Geothermal energy offers the prospect of zero carbon, base-load energy generation. "Zero carbon" means that no carbon dioxide (CO2) will be emitted when generating energy. This is different from
some other forms of 'renewable' energy, which still result in significant CO2 emissions. "Base-load" means that power is available 24 hours a day, 7 days a week, all year round, and therefore can be used to meet energy needs at any time. This is a significant advantage compared to a number of
other zero-carbon technologies that are more intermittent (such as wind, wave and solar power).
HEAD OFFICE: LEVEL 3 19 LANG PARADE PO BOX 2046 MILTON QUEENSLAND 4064 AUSTRALIA TEL +61 7 3721 7500 FAX +61 7 3721 7599 EMAIL info@geodynamics.com.au

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Geothermal energy produced from hot fractured rocks, also known as Engineered or Enhanced Geothermal Systems (EGS), is generated by special high heat producing granites located 3km or more below the Earth's surface. The heat inside these granites is trapped by overlying rocks which act as an insulating blanket. The heat is extracted from these granites by pumping water through fractures in the granite and bringing the hot water to surface. Geodynamics believes that energy produced using EGS technology is capable of generating base-load power at a cost that will be very competitive with other energy sources (both low carbon and otherwise).

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Managers and Directors
Greg Watson Chief Executive Officer & Secretary
Boyd White Non-Executive Chairman
Tim Scholefield Non-Executive Director
Susan Mary Oliver Non-Executive Director
Geoffrey Drucker Executive Director
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