Geodynamics Updates on Habanero 3 Well Site Incident

Geodynamics as operator of the Innamincka Joint Venture provides the following update on the well incident on April 24, 2009 at its Habanero 3 well site located near Innamincka in remote northeastern South Australia.

  • Water and steam are still flowing from Habanero 3.
  • Well control specialists remain on site and Geodynamics is acting on their advice to stop the flow.

Once the flow of water and steam has been stopped, the Company will be able to secure the well, examine the cause of the incident and assess future implications for the well.

The Company continues to closely monitor the situation, and further updates will be provided as more information becomes available.

The Company also confirms that the Joint Venture carries 'Control of Well' insurance (as mandated by government regulation) and insurance underwriters have been notified of the circumstances of the incident.