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Western GeoPower Corp. (CVE:WGP) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
WESTERN GEOPOWER DRILLS 50% OF STEAM RESOURCE WITH 3 WELLS
VANCOUVER, Canada, October 22, 2008, TSX Venture Exchange Trading Symbol: WGP - Western GeoPower Corp., a renewable energy development company, today announced that 50% of the steam resource required to supply the planned 35 MWe Western GeoPower Unit 1 plant at The Geysers Geothermal Field in California, has been successfully placed behind pipe with the drilling and completion of the third well, WGP-3. The three wells have established a power capacity of 19.7 MW (gross) or 17.8 MW (net). Well WGP-3 is located approximately one mile northwest of the WGP-1 well.
Flow testing carried out by independent consultants GeothermEx, Inc. on completion of well WGP-3 has demonstrated an initial steam production rate of 114,000 pounds per hour at a flowing wellhead pressure of 80 psia. Given the plant requirement of 16,130 pounds per hour per MW (gross) or 17,740 pounds per hour MW (net) at a flowing wellhead pressure of 80 psia, this well is estimated to have a power capacity of 7.1 MW (gross) or 6.4 MW (net).
Recent flow testing carried out on well WGP-1 established a power capacity of 10.0 MW (gross) or 9.0 MW (net) and well WGP-2 established a power capacity of 2.6 MW (gross) or 2.3 MW (net). The average power capacity for the three wells is 6.5 MW (gross) or 5.9 MW (net).
"The results of drilling to date have been very satisfactory, with well WGP-1 being the most productive well drilled at the Geysers over the past two decades and well WGP-3 being one of the most productive," said Dr. Subir Sanyal, President of GeothermEx. "The average well capacity of the three wells is far above the average capacity at The Geysers field today."
California-based GeothermEx is a recognized international authority in the evaluation of geothermal resources and has been involved in the development of all the producing geothermal fields in the United States and over 750 projects worldwide. Their knowledge of The Geysers geothermal field is extensive, having been associated with the development of the field for over 30 years.
The rig is being skidded across the pad to begin drilling well WGP-4 which is designed to intersect known productive zones accessible from the current pad. Completion of WGP-4 is projected for early 2009. Initial projections called for the drilling of a total of eight production wells and one injector. Should the drilling of the additional wells continue to yield higher than anticipated capacity factors, fewer wells may be required. An existing well is being assessed for re-work and may be used as a second injection well. The drilling program is scheduled for completion in late 2009 and the 35 MWe Western GeoPower Unit 1 plant is projected to start commercial operations in early 2010.
The Geysers geothermal field, located 75 miles north of San Francisco, California, is the largest producer of geothermal electricity in the world. Commercial geothermal power has been generated continuously at The Geysers field since 1960, the present generation level being about 900 MWe of clean, baseload electricity. Western GeoPower's Unit 1 project is situated in the south-western region of The Geysers field in Sonoma County.
About Western GeoPower Corp. Western GeoPower Corp. is a renewable energy company dedicated to the development of geothermal energy projects for the delivery of clean, sustainable, baseload electricity generation. The Company is developing The Western GeoPower Unit 1 geothermal power plant at The Geysers Geothermal Field in California, United States and the South Meager Geothermal Project in British Columbia, Canada. On behalf of the Board of Western GeoPower Corp "Kenneth MacLeod" Kenneth MacLeod, President & CEO Cautionary Note Regarding Forward-Looking Statements Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above that reflect the Company's expectations and projections about its future results. The Company has tried whenever possible to identify these forward-looking statements which include but are not limited to, words such as "anticipates," believes," "estimates," "expects," "plans," "intends," "potential," and similar expressions. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The Company disclaims any obligation or intention to update or to revise any forward-looking statement, whether as a result of new information, future events or otherwise. Such information contained herein represents management's best judgment as of the date hereof based on information currently available.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. For more information or to be put on our email list, please contact our office: (604) 662-3338 or US/Canada Toll Free: 1-866-662-3322, email: info@geopower.ca Investor Relations: IR@geopower.ca
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Western GeoPower Corp. 837 West Hastings Street Suite 411 Vancouver, BC V6C 3N6 Canada
