Geodynamics, Ltd. recently announced that its Habanero #1 geothermal well in Australia has reached a depth of 4,421 meters (about 14,504 feet), which "exceeds the minimum target depth for carrying out the full hydraulic stimulation program" as originally designed for stage one of the project.

According to the company, the Habanero #1 well has now penetrated 754 meters (about 2,474 feet) into the target heat-bearing granites, "more than sufficient to carry out the two planned hydraulic stimulations for the development of underground heat exchangers."

"Geodynamics is pleased that drilling operations have been carried out without any lost time incidents," said Geodynamics. "The company is now looking forward to commencing the hydraulic stimulation program, which is expected to commence [in October]."