WESTERN GEOPOWER'S DRILLING SUCCESS CONTINUES W...
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DATE: December 4, 2008
FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V (Canada): WGP.V FRANKFURT: WE6.F
WESTERN GEOPOWER'S DRILLING SUCCESS CONTINUES WITH 9 MW WELL
VANCOUVER, Canada, December 4, 2008, TSX Venture Exchange Trading
Symbol: WGP - Western GeoPower Corp., a renewable energy development
company, today announced that completion testing of the Company's
fourth well (WGP-4) at The Geysers Geothermal Field in California has
established an initial power capacity of 9.0 MW (gross) or 8.2 MW
(net). This latest well increases the power capacity placed behind
pipe to 28.7 MW (gross) or 26 MW (net), representing over 70% of the
initial steam resource required to supply the planned 35 MWe Western
GeoPower Unit 1 plant.
Flow tests on all four wells were conducted by independent
consultants GeothermEx. The initial flow rates for the four wells
aggregate 463,000 lbs/hour at a design condition of a minimum flowing
wellhead pressure of 87 psia. The power plant specifications call for
steam requirements of 16,130 lbs/hour per MW (gross) or 17,743
lbs/hour per MW (net).
"Drilling to date continues to yield outstanding results, with well
WGP-4 coming close to matching WGP-1 as the most productive well
drilled at the Geysers over the past two decades," said Dr. Subir
Sanyal, President of GeothermEx. "The high well capacity achieved to
date reflects the presence of high-flow-capacity areas within the
leasehold, and careful targeting and drilling of the wells."
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.
"We are especially pleased to report that well WGP-4 has been
completed considerably under budget and over one month ahead of
schedule," said Kenneth MacLeod, President & CEO of Western GeoPower.
"Significant cost savings may be realized with the drilling program
if future wells continue to yield similar high productivity rates."
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
productivity, 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<br>V6C 3N6 Canada
WKN: 254049; ISIN: CA95827Q1037;
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