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Discussions with parties interested in potential collaboration in the Paralana Joint Venture continued, with the aim of completing the sub- surface fluid circulation system by the drilling of a second deep well into the fracturede zone.
The first phase of geo-phyiscal investigation in Tenerife as part of the GeotherCan project was successfully completed in March 2012, with an MT survey conducted by Petratherm and the University of Barcelona.
Further interpreation of the data collected is ongoing and will help define the potential for an active geothermal system at shallow depth in areas that are well suited for future development. The results of the interpretation will aid planning of the second phase of the MT survey scheduled for the next quarter.
