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Western GeoPower Corp. (WGP)

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Wednesday 15 July, 2009

Western GeoPower Corp.

WESTERN GEOPOWER ANNOUNCES FORMATION OF SPECIAL...



Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this 
announcement. 
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                            NEWS RELEASE


DATE:  July 14, 2009 FOR IMMEDIATE RELEASE



TRADING SYMBOLS: TSX-V (CANADA): WGP.V FRANKFURT: WE6.F


WESTERN GEOPOWER ANNOUNCES

 FORMATION OF SPECIAL COMMITTEE TO CONDUCT STRATEGIC REVIEW PROCESS

AND

              PRELIMINARY RESULTS OF RESERVOIR MODELING

VANCOUVER, Canada,  July  14,  2009,  TSX  Venture  Exchange  Trading
Symbol: WGP -  Western GeoPower  Corp., a  renewable energy  company,
today announced that the company's Board of Directors has established
a Special  Committee  to  review,  consider  and  evaluate  strategic
alternatives that may be available to the Company.

The Special Committee will be chaired by Daryl Clark and will include
Harry  Knutson  and  Gudmundur  F.  Sigurjonsson,  all  of  whom  are
currently members  of  the  Board.  No timetable  has  been  set  for
completion of the  Special Committee's  review, and there  can be  no
assurance that this  process will  result in  any specific  strategic
transaction. The Company does not intend to update its progress  with
respect to  potential  strategic  transactions unless  the  Board  of
Directors has approved a definitive course of action.

The  Company  previously  announced   that  a  review  conducted   by
independent consultant  GeothermEx, Inc.  of  data from  the  drilled
portions of the Company's Unit 1 leasehold had determined that, based
on certain assumptions, the maximum capacity for the Company's Unit 1
power plant is 35 MWe (gross).

In conjunction  with  a  proposed  financing,  the  Company  retained
GeothermEx to develop  and calibrate a  numerical reservoir model  of
the entire Geysers field including the Unit 1 leasehold incorporating
the down-hole data  from the  newly drilled wells  on the  leasehold,
plus the production and injection histories  of all the wells at  The
Geysers. The Company has received GeothermEx's preliminary  reservoir
model update, which indicates that a  plant capacity of 35 MWe  (net)
for five years,  followed by  a capacity of  32.5 MWe  (net) for  the
remaining project life, can be  maintained but only if the  undrilled
portions of the  Unit 1 leasehold  prove as productive  as the  areas
drilled to date.   In the event  the undrilled portions  prove to  be
less  productive,   GeothermEx's   preliminary   reservoir   modeling
indicates a minimum of  25 MWe (net) capacity  can be sustained  over
the project life.

Included in  the  Special  Committee's  mandate  is  determining  the
various alternatives for advancing the Unit 1 project in light of the
preliminary  reservoir  modeling  results.   Two  initial   potential
strategies are being evaluated. The first is to commence the  initial
plant output at 25 MWe (net) and the second is to expand the drilling
program to include lands on the Unit 1 leasehold where resources have
not yet been proven.


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 Sonoma County, California, United States;
the South Brawley geothermal project in Imperial County,  California,
United States; and  the South  Meager geothermal  project in  British
Columbia, Canada.

On behalf of the Board of Western GeoPower Corp
"Kenneth MacLeod"
Kenneth MacLeod, President & CEO

Cautionary Note Regarding Forward-Looking Statements

Certain statements  in  this press  release  contain  forward-looking
information within  the  meaning  of applicable  securities  laws  in
Canada  ("forward-looking  information").  The  words  "anticipates",
"believes", "budgets", "could", "estimates", "expects",  "forecasts",
"intends", "may", "might", "plans", "projects", "schedule", "should",
"will",  "would"  and  similar  expressions  are  often  intended  to
identify    forward-looking    information,    although    not    all
forward-looking information contains these identifying words.
The forward-looking information in  this press release includes,  but
is not limited to: a plant capacity  of 35 MWe (net) for five  years,
followed by a capacity  of 32.5 MWe (net)  for the remaining  project
life, can be  maintained but only  if the undrilled  portions of  the
Unit 1 leasehold prove  as productive as the  areas drilled to  date;
and, in the event the undrilled portions prove to be less productive,
GeothermEx's preliminary reservoir modeling indicates a minimum of 25
MWe (net) capacity can be sustained over the project life.
The forecasts  and  projections  that  make  up  the  forward-looking
information are  based  on assumptions  which  include, but  are  not
limited to:  actual  geothermal  resources will  be  consistent  with
projected resources; the  Company is  not subjected  to any  material
adverse events normally associated with exploration, development  and
production of  natural resources;  the Company  is not  subjected  to
additional  governmental  regulation  and  that  political  attitudes
towards geothermal production does not change; the Company is able to
remain  in  compliance  with  its  debt  obligations;  the  Company's
resource estimates are accurate; the Company's insurance is  adequate
and that  it does  not incur  any material  uninsured liability;  the
Company is able to comply with environmental regulations; the Company
has access to  suitable infrastructure; no  title defects affect  the
Company's properties;  the  Company  receives  necessary  permits  on
acceptable  terms;  no  material  new  competition;  no   significant
fluctuation in  currency  exchange  rates  and  interest  rates;  the
Company  is   able  to   access  additional   capital;  no   material
fluctuations in energy prices; continued access to the Company's  key
personnel; and, no conflicts of interest arise.
The forward-looking information  is subject  to risks,  uncertainties
and  other  factors  that  could  cause  actual  results  to   differ
materially from  historical results  or  results anticipated  by  the
forward-looking information. The factors which could cause results to
differ from current  expectations include,  but are  not limited  to:
actual geothermal resources may differ from projected resources;  the
development of geothermal projects by  third parties near the Unit  1
project could adversely affect actual geothermal resources  available
to the Unit  1 project; risks  normally associated with  exploration,
development and production  of natural resources;  risks relating  to
government regulation; risks relating to indebtedness; risks relating
to the reliability  of resource estimates;  no history of  geothermal
production; insurance and  uninsured risks;  environmental risks  and
hazards; lack  of  access  to  required  infrastructure;  land  title
defects; risks  relating to  obtaining permits  on acceptable  terms;
competition; fluctuations  in currency  exchange rates  and  interest
rates; risks relating to raising additional capital; fluctuations  in
energy prices; reliance on key personnel; conflicts of interest; and,
other risks  described  in  the  Company's  Management  Discussion  &
Analysis and other continuous disclosure documents.
All forward-looking information in this press release is qualified in
its entirety  by this  cautionary  statement and,  except as  may  be
required by law, the  Company undertakes no  obligation to revise  or
update  any   forward-looking  information   as  a   result  of   new
information, future events or otherwise after the date hereof.
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
Nicole Robson - Marketing and Media: 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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