Western GeoPower Corp.: Geysers "Rig Test" Indicates Commercial Well
April 24 2008 - 1:30AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (FRANKFURT: WE6.F), a renewable
energy development company, today announced that the "rig testing"
carried out by independent consultants GeothermEx, Inc. on the
WGP-1 well at the Western GeoPower Unit 1 project at The Geysers
Geothermal Field in Northern California indicates that the well is
a strong producer with an initial steam flow rate of 140,000 lb/hr
(63,500 kg/hr) at a wellhead pressure of 137 psia, with a static
reservoir pressure of at least 279 psia. Drilling of the well
continues and flow testing will occur on completion of the
well.
The WGP-1 well has to date been drilled to a depth of 7,060 feet
(2,150 m) out of a projected target depth of 11,000 feet (3,350 m).
Production casing was set to a depth of 5,000 feet (1,520 m).
Several steam zones were encountered between 5,400 feet (1,650 m)
and 7,030 feet (2,140 m); additional productive zones may be
encountered as the well is deepened further.
"The GeothermEx team is very pleased that the results from this
initial well have exceeded our earlier projections as detailed in
our feasibility report of October 2006," said Dr. Subir Sanyal,
President of GeothermEx. "In particular, the static reservoir
pressure has been shown to be at least 279 psia, compared to 250
psia assumed in the above-mentioned report; therefore, the average
stabilized well productivity should be higher than the 70,000 lb/hr
estimated earlier. The results also provide encouragement that
future wells may continue to reflect similar high productivity
characteristics in this region of The Geysers field that has been
shut-in for twenty years."
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 very satisfied with the high degree of expertise and
foresight that GeothermEx has demonstrated throughout the planning
and execution of this successful first well," said Kenneth MacLeod,
President and Chief Executive Officer of Western GeoPower. "The
high productivity of the well suggests significant cost savings may
be realized through the drilling of fewer wells than anticipated if
a similar successful outcome is repeated in future wells."
The Western GeoPower Unit 1 plant is projected to start
commercial operations in early 2010. Previous estimates by
GeothermEx suggested a requirement for nine or ten wells at an
average of 3.66 MW per well, however, the number will be revised
downwards should future well capacities continue to exceed
expectations.
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: info@geopower.ca or IR@geopower.ca Website:
www.geopower.ca
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