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Western GeoPower's geothermal wells satisfy financing requirements

Western GeoPower Corp has announced that the four wells drilled to date at the Western GeoPower Unit 1 project at The Geysers Geothermal Field in California are considered to have sufficient power capacity behind pipe to satisfy the minimum requirements for project financing.

Accordingly, further drilling has been deferred until receipt of project financing to construct the 35 MWe power plant, which is anticipated for the second quarter of 2009.

An assessment by independent consultants GeothermEx of the four wells, designated WGP-1 through WGP-4, states that the total net initial power capacity from the four wells is estimated at 26.1 MW, which represents 74.6% of the initial plant capacity of 35 MW (net).

The projected commercial operating date for the power plant is in 2010.

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