Reservoir Capital Corp.: Brodarevo Progress Report
May 10 2011 - 7:00AM
Marketwired
Reservoir Capital Corp. ("Reservoir" or the "Company") (TSX
VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) is pleased to provide a
progress report on its 58.4MW Brodarevo Hydroelectric Project on
the river Lim in southwest Serbia.The Company has engaged
Energoprojekt Hidroinzenjering Co. Ltd. ("Energoprojekt") to
prepare Feasibility Studies for both the Brodarevo 1 and Brodarevo
2 dams and power plants. These studies,as well as the various
related studies being carried out under Energoprojekt's
supervision, are underway and progressing as detailed below.
Topography, sediment, erosion and hydrology studies have already
been completed and testwork on the hydrological models (see Company
news release of May 3, 2011) is due for completion in June.
Geotechnical drilling for the dam foundations is scheduled for
June and July, pending the completion of land purchases for the dam
and plant sites and receipt ofthe relevant permits from the
municipality.
The design, environmental studies and permitting for the
sections of the M-21 road affected by the Brodarevo Project are
expected to be completed by Put Inzenjering in late August.
Environmental studies in accordance with Serbian standards and
legislation are being conducted in parallel with studies according
to World Bank guidelines. Both sets of studies are scheduled for
completion in late 2011.
Earlier this year, the Company received a one-year extension of
the Brodarevo energy permits through January 2012 from the Serbian
Ministry of Mines and Energy. The State Audit Commission has
approved the Brodarevo Pre-Feasibility Studies and the Company
intends to apply for a Building Permit once the Feasibility Studies
are delivered to the relevant authorities.
Quality Control
Deputy Director of the Company's operating subsidiary REV
d.o.o., Milan Cusic, M.Sc. Dipl. Eng., a graduate of the Faculty of
Mechanical Engineering of the University of Belgrade (1997) and
previously Chief Hydro Engineer for Serbian State Utility EPS
(2003-2010), is responsible for the preparation of the technical
information in this release.
About Reservoir
Reservoir is a renewable energy company that is engaged in the
development of a 58.4MW hydroelectric project at Brodarevo in
southwest Serbia. Reservoir holds four geothermal exploration
licenses in Serbia and has applied for three hydroelectric licenses
on the Cehotina River in Bosnia (17.75MW) and one to develop a 32
MW project from an existing reservoir dam at Vrutci in Serbia. The
Company also holds a portfolio of 8 precious and base metal
exploration properties in Serbia that, subject to approvals, are to
be spun-out into a separately listed company. Reservoir's common
shares trade on the TSX Venture Exchange (symbol "REO") and on the
Frankfurt and Berlin Exchanges (symbol "ROC").
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organization of Canada accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Reservoir Capital Corp. Chris MacIntyre VP Corporate
Development +381 (11) 3978453 or +1 416 703 0010
info@reservoircapitalcorp.com www.reservoircapitalcorp.com
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