FIRST TWO GEYSERS WELLS DEMONSTRATE 12.6 MW INI...
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NEWS RELEASE
DATE: SEPTEMBER 2,
2008
FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V (Canada): WGP.V FRANKFURT: WE6.F
FIRST TWO GEYSERS WELLS DEMONSTRATE 12.6 MW INITIAL CAPACITY
VANCOUVER, Canada, September 2, 2008, TSX Venture Exchange Trading
Symbol: WGP - Western GeoPower Corp., a renewable energy development
company, today announced that testing of well WGP-2 at the Company's
Unit 1 project at The Geysers Geothermal Field in California has
confirmed that the well is a producer, with an initial capacity of
2.6 MW (gross). Together with the flow rate of approximately 161,000
lb/hr (73,028 kg/hr) demonstrated by well WGP-1 as announced May 6,
2008, the first two wells together have an initial capacity of
203,500 lb/hr (92,306 kg/hr) of steam, representing 12.6 MW (gross).
The wells will supply steam to the 35 MWe Western GeoPower Unit 1
plant, projected to start commercial operations in early 2010.
Well WGP-2 was directionally drilled to the north-north-east of the
pad to a total depth of 9,935 feet (3,028 m). A rig test carried out
by independent consultants GeothermEx, Inc. demonstrated an initial,
unstabilized steam flow rate of about 42,500 lb/hr (19,300 kg/hr) at
the design flowing wellhead pressure of approximately 80 psia. The
rig has been moved to the Filley leasehold and has commenced drilling
well WGP-3 which has been designed to intersect known productive
zones to the north of the pad. Completion of WGP-3 is projected for
November.
"We are pleased to report that the combined productivity of the
initial two wells exceeds our earlier expectations," said Kenneth
MacLeod, President and Chief Executive Officer of Western GeoPower.
"Current projections call for the drilling of four to six additional
production wells and one injector well, scheduled for completion in
late 2009."
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 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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