Replies to post #15018 on Copper King Mining Corporation fka CPRKQ

[Willboat]

Raser Technologies Adds 20,000 Acres to Its Thermo Resource Portfolio
Aug 11, 2008 8:55:00 AM
Copyright Business Wire 2008
View Additional ProfilesPROVO, Utah--(BUSINESS WIRE)--

Raser Technologies, Inc. (NYSE Arca: RZ) announced today that it has signed three new lease agreements covering more than 20,000 acres of geothermal, surface and other rights near its existing Thermo resource in Beaver County, Utah.

The signing of these three leases increases Raser's total holdings in the Thermo area to over 50,000 acres. Raser recently released the results of a report prepared by the prominent geothermal consulting firm, GeothermEx Inc., which concluded that the Thermo resource could potentially sustain over 200 megawatts (MW) of clean renewable baseload energy. These additional holdings in that area provide added resources for Raser's potential future development.

The specific terms of leases were not disclosed but under the lease agreements, Raser has rights to the geothermal resources and certain surface rights for the construction of geothermal wells, piping, power plants and transmission lines.

"These leases are very important to our future development plans," stated Richard Clayton, Raser's Executive Vice President and General Counsel. "Adding to our holdings in what we believe is one of the richest geothermal finds in the U.S. in the last 25 years enhances our ability to maximize the potential of that resource. The independent third-party verification of the potential that exists in that valley confirms the value of our vast geothermal portfolio."