Re: News - Tuesday, February 16, 2010
Title: Reservoir Advances Brodarevo Hydroelectric Projects in Serbia
Vancouver, British Columbia (TSX Venture: REO) - Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to report positive progress on its feasibility studies for the Brodarevo 1 and Brodarevo 2 hydroelectric projects on the River Lim in southwest Serbia.
Fieldwork and technical studies completed by Company personnel, Energoprojekt Hidroinzenjering Co. Ltd. (Serbia) and Technum-Tractebel Engineering S.A. (Belgium), have recommended a capacity increase from 48MW to 55.2MW, defined sites, provided recommendations for the design of the hydroelectric power plants and preliminary cost estimates for their construction, as summarized in the table below:
| License |
Project Site |
Water Level (m.a.s.l.) |
Gross Head (m) |
Capacity (MW) |
Output (GWh/year) |
Construction Cost (?m) * |
| Brodarevo 1 |
Junakovina |
519 |
19.73 |
24.6 |
96.97 |
42.172 |
| Brodarevo 2 |
Lucice |
488 |
24.78 |
30.6 |
123.41 |
49.577 |
| Total |
|
|
|
55.2 |
220.38 |
89.749 |
| * includes contingencies of 15% on the civil works, but does not include moving sections of the road. |
The Italian and Serbian governments have signed an agreement whereby Serbia will export green energy into Italy at prices substantially above those of the local market. The Company is engaged in discussions with various energy trading groups with the intent of signing an indicative Power Purchasing Agreement for the sale of electricity into the Italian market.
The Company expects to be able to complete Pre-Feasibility Studies in the next month or two and Feasibility Studies by the end of 2010. The Company is working in parallel with the local authorities, towards being issued all the necessary permits for: relocation of parts of the road along the River Lim, acquisition of surface rights affected by the project and construction of the hydroelectric installations.
About Reservoir
Reservoir is a renewable energy company, engaged in development a 55MW hydroelectric project at Brodarevo in southwest Serbia. The Company has applied for a 32MW license at Vrutci and is studying various other hydroelectric opportunities in the region. In 2010 the Company was issued its first geothermal license at Vranjska Banja in southern Serbia and has filed applications for 3 additional licenses. Reservoir also holds a substantial portfolio of precious and base metal exploration projects, which it is looking to divest. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC").
-30-For further information on Reservoir Capital Corp. please consult the Company's website
www.reservoircapital.ca or contact Miljana Vidovic, President; Miles Thompson, Chairman; or Kim Casswell, Corporate Secretary, at +1 (604) 662-8448.
Investor Relations:
Vancouver: Julia Maxwell, +1 (604) 662-8448
Toronto: Chris MacIntyre, +1 (416) 346-7660
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release
Copyright � 2010 RESERVOIR CAPITAL CORP. (REO) All rights reserved. For more information visit our website at
http://www.reservoircapitalcorp.com/ or send email to
info@reservoircapitalcorp.com ..
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Reservoir Capital Corp.
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EXPLORATEUR |
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CODE : REO.V |
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ISIN : CA7611251033 |
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Reservoir Capital est une société d’exploration minière basée au Canada. Reservoir Capital détient divers projets d'exploration au Serbia and montenegro. Ses principaux projets en exploration sont DELI JOVAN en Serbie et BRESTOVAC au Serbia and montenegro. Reservoir Capital est cotée au Canada. Sa capitalisation boursière aujourd'hui est 917 500 CA$ (702 043 US$, 597 649 €). La valeur de son action a atteint son plus haut niveau récent le 16 mars 2012 à 9,80 CA$, et son plus bas niveau récent le 09 juin 2017 à 0,03 CA$. Reservoir Capital possède 18 350 000 actions en circulation. |