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We look forward to working with Ceraphi to further define and deliver the project.Rick outperforms Parker on his new Indian River claim Tony's dredge suffers a catastrophic failure, threatening his season Todd Hoffman's skeleton crew finally sees good gold at their new mine in Colorado. The GeoHub’s weather independent target baseload is firmly in line with both the UK government’s “build back greener” strategy for net-zero and the Company’s ambition to transition its UK assets into sustainable green energy hubs. “It makes perfect sense for the UK to harness the abundant green heat energy beneath our feet to heat, cool and power our homes and industry. Stephen Sanderson, UKOG’s Chief Executive commented:
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Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers. Matt Cartwright, UKOG’s Commercial Director, who has 38 years of relevant experience in the global oil industry, has approved the information contained in this announcement. Upon execution of the joint venture agreement, conceptual engineering design and preparation of a planning application are planned to commence in the New Year. Our partner, Ceraphi, is a new British technology company specialising in delivering solutions in the geothermal energy space and its energy cascade: It is envisaged that current oil production at the site would continue to the end of economic life and then boreholes would be repurposed to add further geothermal baseload, transitioning the site into 100% renewable energy provision.
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The GeoHub’s potential to supply continuous baseload energy with zero carbon emissions is fully in line with the UK government’s “build back greener” net-zero strategy. Subject to necessary permissions, further wells and/or sites could be added at any stage to supply a wider spectrum of end users. Unlike most conventional geothermal wells, the closed-loop system requires no injection or circulation of water within the rocks between boreholes, eliminating the possibility of induced seismic activity.Īs in established heat networks, heat from the GeoHub would be delivered to the end user via a small diameter hot water pipe and heat pump system.
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The GeoHub concept centres around six new deep geothermal boreholes utilising Ceraphi’s proprietary “closed-loop” downhole heat exchanger technology, designed to transfer heat from the surrounding hot rocks via heat pumps to the surface.
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The project’s first phase would aim to supply significant industrial end-users in the locality with 100% green heating and cooling plus ancillary green electricity and/or hydrogen. The GeoHub, currently at a conceptual stage, is targeted to generate and supply more than 200,000 megawatt hours per year of continuous baseload, primarily as heat energy. UK Oil & Gas PLC (London AIM: UKOG) (“the Company”) is pleased to announce that it has signed a Heads of Terms with Ceraphi Energy Ltd (“Ceraphi”) to enter into a joint venture agreement to develop part of the Company’s Horse Hill site into a geothermal energy hub (“GeoHub”).