New World Energy will target both Hot Aquifer and Hot Rock resources. In particular it will focus on projects that are close to markets and have the potential to host both types of resource in the same location. This will reduce the risk profile of the projects by leveraging exploration and development costs, reducing land access issues and reducing capital costs by sharing power generation and transmission infrastructure.

Initial focus will be on Hot Aquifer projects, which if successful will ensure the shortest lead time to development and will establish New World Energy as a major renewable energy producer. The lower capital and technical risk of Hot Aquifer projects (compared to Hot Rock resources) will assist in securing funding for project development.

In addition, Hot Rock project development will provide New World Energy with the potential to make major step changes in energy production over time and will secure the Company as a significant Australian energy producer. A proven track record in geothermal development and energy production, acquired from Hot Aquifer projects, will assist New World to acquire the funding and support for the development the Hot Rock resources.

Having acquired a very high-quality portfolio of projects, the next step in the development of the Company involves the establishment of an Inferred Resource at one or more of its permit areas in the Perth Basin and Pilbara Region. For some of these areas a large amount of drill data exists arising from previous exploration drilling for oil and gas resources. This data includes down hole temperature measurements sufficient to estimate temperature gradients. Based upon this data the Company considers these areas to be highly prospective for geothermal energy resources and is confident that an Inferred Resource can be established.