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DATE: October 22, 2008
FOR IMMEDIATE RELEASE
TRADING SYMBOLS: TSX-V (Canada): WGP.V FRANKFURT: WE6.F
WESTERN GEOPOWER DRILLS 50% OF STEAM RESOURCE WITH 3 WELLS
VANCOUVER, Canada, October 22, 2008, TSX Venture Exchange Trading
Symbol: WGP - Western GeoPower Corp., a renewable energy development
company, today announced that 50% of the steam resource required to
supply the planned 35 MWe Western GeoPower Unit 1 plant at The
Geysers Geothermal Field in California, has been successfully placed
behind pipe with the drilling and completion of the third well,
WGP-3. The three wells have established a power capacity of 19.7 MW
(gross) or 17.8 MW (net). Well WGP-3 is located approximately one
mile northwest of the WGP-1 well.
Flow testing carried out by independent consultants GeothermEx, Inc.
on completion of well WGP-3 has demonstrated an initial steam
production rate of 114,000 pounds per hour at a flowing wellhead
pressure of 80 psia. Given the plant requirement of 16,130 pounds
per hour per MW (gross) or 17,740 pounds per hour MW (net) at a
flowing wellhead pressure of 80 psia, this well is estimated to have
a power capacity of 7.1 MW (gross) or 6.4 MW (net).
Recent flow testing carried out on well WGP-1 established a power
capacity of 10.0 MW (gross) or 9.0 MW (net) and well WGP-2
established a power capacity of 2.6 MW (gross) or 2.3 MW (net). The
average power capacity for the three wells is 6.5 MW (gross) or 5.9
"The results of drilling to date have been very satisfactory, with
well WGP-1 being the most productive well drilled at the Geysers over
the past two decades and well WGP-3 being one of the most
productive," said Dr. Subir Sanyal, President of GeothermEx. "The
average well capacity of the three wells is far above the average
capacity at The Geysers field today."
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.
The rig is being skidded across the pad to begin drilling well WGP-4
which is designed to intersect known productive zones accessible from
the current pad. Completion of WGP-4 is projected for early 2009.
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 capacity
factors, 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, 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: firstname.lastname@example.org Investor
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Western GeoPower Corp.
837 West Hastings Street Suite 411 Vancouver,
BC<br>V6C 3N6 Canada
WKN: 254049; ISIN: CA95827Q1037;