A Tasmanian company, KUTh Energy, has announced it has found an area of the state with as much geothermal activity as the Cooper Basin in South Australia.

The Company, which has been testing for hot rocks below land in Tasmania’s north-east, has told the stock market it has found an area of heat flow around Ben Lomond that is as large as the best hot rock formations anywhere in Australia.

KUTh’s announcement described the area as "a new, significant geothermal province". It said that "the magnitude of the heat flows obtained is comparable with those reported from the Cooper Basin, currently Australia’s best known geothermal province."