A Very Simple Chiller

Guys I have an idea, I tried google but I couldnt come up with anything so here goes Ill try to explain my Idea:

It is basicaly a heat pump, (Like most cooling devises)

A Pielter with a water block on both sides

So Basicaly you would be pumping ambient temp water through the "hot side" water block and the block on the "cold side" will cool down the water on that loop.

What do you guys think

Here is a pic