Reservoir Capital Corp. Renews and Enlarges its Vranjska Banja Geothermal License
17.09.2013 | Marketwired
VANCOUVER, Sep 17, 2013 - Reservoir Capital Corp. (TSX VENTURE:REO) (FRANKFURT:ROC) (BERLIN:ROC) ("Reservoir" or the "Company") is pleased to report that the Ministry of Natural Resources, Mining and Spatial Planning, of the Republic of Serbia has renewed the Company's Vranjska Banja geothermal exploration license in southern Serbia for an additional 3-year period to August 16, 2016. The license now also covers the geothermal wells VG-2 and VG-3 that were within an exploitation license that expired over the previous period and which has now been incorporated into Reservoir's license area.The Company has measured discharge temperatures of 96°C (boiling at this elevation) and relatively high artesian flows averaging approximately 60 litres per second from VG-2 and VG-3, with temperatures of up to 137°C were reportedly measured at less than one kilometre depth when the wells were drilled. California-based consultants GeothermEx Inc. (a Schlumberger Company) previously completed an independent review of the historical data, and measurements taken during the Company's four season reservoir studies on VG-2 and VG-3, concluding the target could potentially support a power generation project of at least 10 Megawatts ("MW") in size, utilizing a binary-cycle power plant (see Company news release of January 23, 2012 for details).
About Reservoir
Reservoir is a renewable energy company engaged in the development of a 59.1 MW hydroelectric project at Brodarevo on the River Lim, the Vranjska Banja geothermal project in southern Serbia, and the 17.76 MW Cehotina hydroelectric projects in Bosnia. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").
For further information on Reservoir Capital Corp., please consult the Company's website www.reservoircapitalcorp.com.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contact
Reservoir Capital Corp.
Chris MacIntyre, VP Corporate Development
+1 416 703 0010
www.reservoircapitalcorp.com
