Reservoir extends geothermal exploration permit in Serbia by one year

(ADPnews) - Dec 21, 2010 - Canada-based Reservoir Capital Corp (CVE:REO) said yesterday that it had prolonged its geothermal exploration permit at Vranjska Banja, Serbia, until November 11, 2011.

The move follows the successfully completed 2010 work programme, which included a geophysical survey utilising geo-electrical sounding to determine the structure and depth of the collector of the geothermal waters at the 1,750 hectares (4,324 acres) area.
The concession also surrounds the 2-hectare exploration permit with two geothermal wells -- VG-2 and VG-3, held by the Jumko AD.

On the base of the survey results, a target has been identified approximately 120 metres (394 feet) southeast of VG-2, with an interpreted zone with thermal water from about 100 metres to 1,500 metres in depth.

Besides the geophysical assessment, Reservoir Capital has completed the first phase of the resource testing on VG-2 and VG-3, which included step-testing with three pressure draw-downs, and long-term simultaneous testing to determine the exploitation capacity of the existing wells. The company will carry on measuring water temperature, pressure, flow rate and chemistry through a full 12-month cycle to be completed in September, 2011.

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