Reservoir Appoints Energoprojekt to Complete Brodarevo Feasibility Studies
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/26/10 -- Reservoir Capital Corp. ('Reservoir' or the 'Company') (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) is pleased to report that it has engaged Energoprojekt Hidroinzenjering Co. Ltd. ('Energoprojekt' or 'EHC') to complete Feasibility Studies for the Company's Brodarevo 1 and Brodarevo 2 hydroelectric projects on the River Lim in southwest Serbia.
Energoprojekt delivered completed Pre-Feasibility Studies on the projects in July 2010, recommending a capacity increase from the original application case of 48 megawatts ('MW') to 58.4 MW, with a corresponding increase in output from 189 gigawatt hours per year ('GWh/year') to 232 GWh/year (see Company news release of July 14, 2010 for details). The proposed Feasibility Studies, scheduled for delivery in August 2011, will include or incorporate: environmental studies, hydrological modeling, geotechnical drilling, the remaining design work required for project financing and the issue of building permits, and preparation of bidding documents for contractors.
Miljana Vidovic, CEO & President, commented, 'We are very pleased to have the continued support of Energoprojekt, Serbia's leading hydro-engineering company and to be moving into the final stages of development and permitting of the Brodarevo Projects.'
Quality Control:
Deputy Director of the Company's operating subsidiary REV D.o.o., Milan Cusic M.Sc. Dipl. Eng., a graduate of the Faculty of Mechanical Engineering of the University of Belgrade (1997) and previously Chief Hydro Engineer for Serbian State Utility EPS (2003-2010), is responsible for the preparation of the technical information in this release.
About Reservoir
Reservoir is a renewable energy company, engaged in development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric licenses on the Cehotina River in Bosnia (17.75 MW) and one to develop a 32 MW project from an existing reservoir dam at Vrutci in Serbia. The Company holds a portfolio of 8 precious and base metal exploration properties in Serbia, with Freeport McMoRan Exploration Corp farming into two of them. Reservoir's common shares trade on the TSX Venture Exchange (symbol 'REO') and on the Frankfurt and Berlin Exchanges (symbol 'ROC').
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Reservoir Capital Corp.
Chris MacIntyre
VP Corporate Development
+1 (416) 346-7660
Reservoir Capital Corp.
Julia Maxwell
Investor Relations
+1 (604) 662-8448
+1 (604) 688-1157 (FAX)
info@reservoircapitalcorp.com
www.reservoircapital.ca