Origin Energy Limited
(ASX:ORG) will withdraw from its Innamincka JV with geothermal explorer Geodynamics Limited
(ASX:GDY) at the end of June this year.
The energy company opted in August last year to cease funding their JV share of costs for completion of a well on the project.
Earlier, Origin decided not to participate in the projects work program for the current calendar year.
Geodynamics CEO Geoff Ward says Origins support has significantly progressed the development of an Enhanced Geothermal System in Australia.
Origin Energy booked a net profir of $561 million in the first half of the current financial year.
