Torrens Energy Limited (Torrens Energy), an Australia-based company, has continued its land acquisition strategy with the granting of geothermal exploration licenses GELs 425, 481 - 483, between Port Wakefield and Port Pirie, South Australia – the Port Pirie project. Torrens Energy’s landholding now stands at 25 licenses, for a total of 11,542km2 in South Australia.

The Port Pirie project acquisition effectively consolidates the southern portion of the highly prospective Torrens Hinge Zone (THZ); a geological domain of known high heat flow currently under exploration by the company.

Port Pirie Project Area

The newly offered Tenements incorporate a corridor of interpreted high heat flow coinciding with prospective insulating sedimentary rocks, straddled by the national electricity grid (NEM).

This geological setting is being successfully explored by the Company approximately 300 kilometres to the north, at Parachilna.

The Parachilna Project yielded the world’s first compliant ‘hot rock’ Inferred Resource in September 2008, with an estimate of 780,000 PJ of energy contained heat.

Project Pipeline

Torrens Energy will include the newly acquired Port Pirie Project in its systematic exploration of areas around the NEM in South Australia.

Exploration, aimed at mapping heat flow, uses a combination of desk top analysis, field work and drilling, to establish a ‘project development pipeline’ of Inferred Resources in the State.

The geothermal resources identified will be taken forward by deeper drill testing on selected “hot spot” locations, and Torrens is confident that its planned exploration efforts will continue to bring the search for geothermal energy closer to key infrastructure areas in South Australia.

Exploration continues to be supported by the Federal Governments Renewable Energy Development Initiative ($3m – REDI) matched funding, which returns almost half of drilling and exploration expenditure.

From a development perspective, the location of the Port Pirie Project and the other areas currently being explored by Torrens, represent a real competitive advantage, over geothermal plays in Australia, located away from NEM. The Port Augusta and Adelaide Plains are scheduled for drill testing in the coming drill programme.

Drilling is scheduled to commence in January 2009.