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NEWS RELEASE
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 MW (net).
?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?
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: info@geopower.ca Investor Relations: IR@geopower.ca
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