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Market: TSX
Sector: Renewable Energy
Epic: TSX-V: SRA
News: Latest news
Web Site: Sierra Geothermal Power
Other Articles: 17-08-200917-11-200822-08-2008 
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Thursday July 29, 09:30Specialist Energy Group Lays Out a Compelling Blueprint for Growth

After a difficult start to life as a stock market listed company, the company now stands at the threshold of a much brighter future. Legacy issues have been dealt with and the turnaround programme initiated by CEO Ewan Lloyd-Baker is gaining traction.

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Wednesday July 28, 11:30Silver Lake Resources boosts high grade gold resource by 70% to 2.5m ounces

Silver Lake Resources has added over 1 million ounces of gold to its resource inventory during the year after mining 66,700 ounces and expects further encouraging results at its  Mount Monger and Murchison projects.

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Thursday July 15, 02:10Henan Yuguang Lead & Gold investment in Kimberley Metals receives all clear from FIRB

Kimberley Metals (ASX: KBL) has reported that on 12 July the Australian Government Foreign Investment Review Board (FIRB) had no objections to Henan Yuguang Lead & Gold Co. Ltd's [...]

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Sierra Geothermal Power

Sierra Geothermal Power

SGP is a Vancouver-based renewable energy company focused on the exploration and development of clean, sustainable geothermal power. Geothermal power plants produce long-term stable revenues and provide continuous base-load power, often at or above 95% capacity. SRA’s 17 projects comprise a total of 88,000 acres of geothermal land assets in Nevada and California.
Monday, November 17, 2008

Sierra Geothermal Power – Completes 100% Earn-In at Reese River

by Sam Kiri company news image

Markets may ebb and flow but the need for cleaner energy sources such as renewable energy remains ever strong. The topic formed a major part in the US Presidential campaign by both candidates. The President elect Mr. Obama is expected to spend some $150 billion over ten years to develop renewable energy sources. While the intent indeed is there among companies and policy makers, opportunities are few and far between. This makes companies with operations and projects in the renewable energy space particularly interesting investment propositions.

Among those few, Canadian Venture listed Sierra Geothermal Power Corporation (TSX.V: SRA), warrants special attention. The company is focused on geothermal exploration and development in North America and currently holds geothermal leases, or options to leases, on 17 different properties in Nevada and California. Spanning over more than 88,000 acres (880 sq km), these leases have a potential generation capacity of more than 400 MW of power.
SRA has just completed 100% earn-in at Reese River geothermal power project in Nevada from Western Geothermal. SRA has met various thresholds of option payments and work programme expenditures totalling US$5,250,000. SRA also has the option to buy out Western Geothermal's one percent (1%) gross royalty. The Reese River geothermal target has been independently rated as one of the top undeveloped geothermal prospects in Nevada.

In an independent report, GeothermEx Inc. doubled Reese River resource estimate to a 90% probability of generating at least 26 megawatts (net) (MW) for 20 years and a 50% probability of supporting a plant of at least 58 MW. The most recent drill results from Reese River include 5 temperature gradient wells. Drilled to depths between 488 meters (1,600 feet) and 1,500 meters (5,000 feet), the bottom-hole temperatures recorded between 96 and 150 degrees Celsius (194 - 302 degrees Fahrenheit).

Given the current financial turmoil, SRA has changed its corporate strategy. The company is aggressively seeking partners to develop its Tier 1 properties and has received significant interest. The management is aware of SRA’s current low valuation and is exploring all strategic alternatives to maximize shareholder value. The company however is not cash strapped and currently has over $4 million with no debt. This is sufficient to finance its development endeavours including exploration (non-drilling) and permitting work on its properties.

The cash reserve as well as its large pipeline of projects forms the competitive advantage of SRA over its peers. The company’s top five projects have a combined resource capacity of approximately 150 MW at the 90% confidence level and 320 MW at the 50% confidence level, enough to power approximately 120,000 to 250,000 homes. Total combined estimated resource capacity in the pipeline is 500 MW.

There is considerable room for growth according to the U.S. Geological Survey (USGS). During its first national geothermal resource estimate in more than 30 years, the USGS estimates that the US has the potential to generate half of its electricity demand (500,000 MW) through geothermal energy.

About Sierra Geothermal Power
SGP is a Vancouver-based renewable energy company focused on the exploration and development of clean, sustainable geothermal power. Geothermal power plants produce long-term stable revenues and provide continuous base-load power, often at or above 95% capacity. SRA’s 17 projects comprise a total of 88,000 acres of geothermal land assets in Nevada and California.

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