Featuring: publicly traded & venture capital companies on the U.S. (NYSE, NASDAQ, AMEX & OTC: BB) and Canadian (TSX & TSX-V) stock exchanges, Investment & Money Management Ideas. |
|
|
Press Release -
Western GeoPower Corp. |
|
|
“Western GeoPower has been quietly building up the project in California first of all as a 25 megawatt size project and over the past five months we have extended the leasehold from six hundred acres to a thousand acres which now enables us to increase the capacity up to 35 megawatts. That is one reason why the project value in California has appreciated over the past few months. Other factors to consider are the power prices in California has increased,..” - Kenneth MacLeod (WGP) (Interview published March 21, 2008) |
The Most Powerful Name In Corporate News and Information. |
|
CURRENT ISSUE | COVER ARCHIVES | INDEX | CONTACT | FINANCIALS | SERVICES | HOME PAGE |
|
DATE: November 5, 2008 FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V ( Canada ): WGP.V FRANKFURT : WE6.F
STEAMING AHEAD AT THE GEYSERS – 50% of Resource Secured
On October 22, 2008 Western GeoPower Corp., a renewable energy development company, 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).
Western GeoPower signed a $500 million power purchase agreement in May 2008 with Northern California Power Agency and has ordered a turbine from Fuji Electric Corporation, with commercial production scheduled for April 2010.
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
|
|
