Western GeoPower Corp.: Geysers Well Demonstrates 10 MW Initial Capacity
May 06 2008 - 2:06AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (FRANKFURT: WE6.F) a renewable
energy development company, today announced that an eight hour
multi-rate flow test carried out on completion of the WGP-1 well at
The Geysers Geothermal Field in California has confirmed that the
well is a strong producer, with an initial capacity of 10 MW
(gross) and a forecast stabilized capacity of at least 7 MW
(gross). The well will supply steam to the 35 MWe Western GeoPower
Unit 1 plant, projected to start commercial operations in early
2010.
Well WGP-1 was directionally drilled to the east of the pad to a
total depth of 8,410 feet (2,563 m) with numerous steam zones
recorded between 5,400 feet (1,650 m) and bottom. Further deepening
of the well was considered unnecessary. An eight-hour multi-rate
flow test carried out by independent consultants GeothermEx, Inc.
demonstrated an initial, unstabilized steam flow rate of about
161,000 lb/hr (72,100 kg/hr) at the design flowing wellhead
pressure of approximately 80 psia. The rig has been skidded across
the pad to immediately begin drilling well WGP-2 which is designed
to intersect known productive zones to the north of the pad.
Completion of WGP-2 is projected for July.
"We note with great satisfaction that the WGP-1 well is one of
the strongest wells drilled at The Geysers during the past 20
years," said Dr. Subir Sanyal, President of GeothermEx. "In
addition, the higher than expected static reservoir pressure
encountered (at least 280 psia compared to 250 psia assumed for
project design) provide encouragement that future wells may show
higher capacity than had been anticipated throughout the Western
GeoPower leasehold."
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 extremely pleased to report that the well's stabilized
productivity is double our earlier expectations and the well has
been completed one month ahead of schedule and considerably under
budget," said Kenneth MacLeod, President and Chief Executive
Officer of Western GeoPower. "A review of earlier production
records from the steam field suggests that the target zones for
future wells may have similar potential to the well just drilled.
If this is confirmed, and fewer wells are required to supply the
plant, considerable cost savings may be realized."
Following completion of well WGP-2 and relocation of the rig to
the next pad, isochronal tests will be conducted at both wells by
Geothermex to assess their long-term productivity and the results
will be used for reservoir modelling purposes. Current projections
call for the drilling of five to seven additional production wells
and one injector well, with the final number to be determined on
completion of reservoir modelling. 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.
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, 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.
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Western GeoPower Corp. Investor Relations (604)
662-3338 or US/Canada Toll Free: 1-866-662-3322 (604) 646-6603
(FAX) Email: IR@geopower.ca Website: www.geopower.ca
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