The Australian Stock Exchange on Friday queried a change in the company’s share price, which rose from a close of 31c on February 9 to a high of 45c on February 16.

In response to the query, the South Australian-based company yesterday said it was not aware why there had been recent trading in its securities.

But it said growing interest in the Australian geothermal energy industry in the wake of the climate change debate could be fuelling it.

“The company can only assume that the general positive sentiment in the geothermal resource sector, following recent well-publicised debate on Australia’s future energy requirements is creating interest in the company’s prospective, well-located hot rock geothermal projects in South Australia,” Geothermal Resources said.

It said the sentiment might also be building ahead of the company’s previously announced plan to begin shallow geothermal gradient test holes in the Frome Project area in Curnamona Craton to depths of 500m in early 2007.

On its website, Geothermal Resources says its principal objective is to explore its tenement areas for hot rock geothermal energy resources that can be exploited for electricity generation purposes.

The company’s current projects are in the Curnamona Craton and South Australia’s southeast.

Meanwhile, fellow hot rocks energy company Geodynamics yesterday entered a trading halt.

The company said it is finalising funding arrangements that will secure a new drilling rig from the US, which will enable it to begin drilling Habanero-3 in South Australia’s Cooper Basin by mid-year.

Its shares are expected to remain in a trading halt until Wednesday or when the announcement is released to the market.

Geodynamics’ share price also jumped last week, gaining 4.9% to $1.18. Fellow hot rock hopeful Petratherm expanded 2.1% to 72c, while Green Rock Energy rose 11.5% to 5.8c.