Sierra Geothermal Power Pursues Geothermal Project

Sierra Geothermal Power Corp. officially changed its name, now trading shares on the Toronto Venture Exchange under SRA. No consolidation of share capital was involved in the name change. The company is proceeding with its plans for the Pumpernickel Geothermal Power Project in Nevada.

“The implementation of a name change reflects the company’s strategic focus and its evolution into a renewable energy power producer,” said Daniel McGee, Sierra Geothermal Power Corp. chief executive officer. “Our exploration results at the Pumpernickel Project in Nevada have been most encouraging and we are currently in the planning process for the second phase of exploration.” The Pumpernickel Geothermal Power Project was identified by the Great Basin Center for Geothermal Energy, University of Reno, as one of the top four undeveloped geothermal prospects in Nevada. Located in the Pumpernickel Valley, 30 km (19 miles) southeast of Winnemucca in Humboldt County, north-central Nevada, the project is centered on a cluster of well-known hot springs adjacent to the Pumpernickel Valley fault. The hot springs, with surface temperatures near the boiling point, are believed to overlie a large geothermal reservoir with water temperatures suitable for a binary power plant. The focus of ongoing exploration at Pumpernickel is to define the limits of a reservoir capable of sustaining a 20- to 30-megawatt plant capable of supplying electrical power to 30,000 homes. A 2005 work program costing more than $800,000 was carried out and included a detailed E-Scan Survey, a gravity survey, and the drilling of four geothermal gradient wells. Results of the program were successful and were carried out under the supervision of the operator and optioning partner Nevada Geothermal Power. A comprehensive report detailing and summarizing the 2005 program with recommendations for the 2006 drilling program is due this month.
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