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DEEP Earth Energy Production Corp receives exclusive lease for project in Saskatchewan

Saskatchewan landscape at Lumsden / Craven, Canada (source: flickr/ vtveen, creative commons)
Alexander Richter Alexander Richter 5 Aug 2011

Canadian developer Deep Earth Energy Production Corp. receives its first exclusive area for geothermal power development from the Saskatchewan Ministry of Energy and Resources.

In a release by the company yesterday, Canadian DEEP EARTH ENERGY PRODUCTION CORP. announces,  “that it has received its first exclusive area for geothermal power development from the Saskatchewan Ministry of Energy and Resources.”

“This is great news as yet another geothermal company in Canada moves on the development of geothermal power projects, and we congratulate our member company Deep Earth Energy Production Corp. on this milestone step for the company.”, says Alexander Richter, Director of the Canadian Geothermal Energy Association.

This follows great news from the Geological Survey of Canada’s recently release report on the “enourmous geothermal potential of Canada” and the record geothermal permit sale in the province of British Columbia in July of this year. To hear more about development in Canada from two of the companies developing projects in the country by Tim Thompson of Borealis GeoPower and Kirsten Marcia of Deep Earth Energy Production Corp.

The property is secured in a Lease of Space Agreement where The Minister has leased to DEEP all rights and interests in the spaces, which may be found to exist from the top of the Winnipeg Formation to the base of the Deadwood Formation. The project area is located in Southeast Saskatchewan, west of Estevan, and totals 5,920 acres (~9.5 sections). Total rental fees for this project area are less than $10,000/year.

The lease is a 15 year term, renewable for another 15 years if the geothermal project continues to produce electricity for commercial sale and is in compliance will all acts and regulations.
An initial estimate from an independent technical report prepared by Borealis Geopower suggests the potential for ~ 5MW of electrical generation at this site.

In addition to this initial site, DEEP is partnering with several Calgary-based oil and gas companies to gain exclusive rights to all non-oil bearing hot aquifers. Based on the size of the land that DEEP will have exclusive access to, it is estimated that 100s of MWs are potentially available for geothermal power development in this region.”

This follows great news from the Geological Survey of Canada’s recently release report on the “enourmous geothermal potential of Canada” and the record geothermal permit sale in the province of British Columbia in July of this year. To hear more about development in Canada from two of the companies developing projects in the country by Tim Thompson of Borealis GeoPower and Kirsten Marcia of Deep Earth Energy Production Corp. at CanGEA’s Annual Conference and Investment Forum in Toronto, September 14-15, 1022

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