ThinkGeoEnergy – Geothermal Energy News

Sierra Geothermal Power drops Pumpernickel option

Sierra Geothermal Power Corp., Vancouver Canada based geothermal development company, announced today that it decided not to exercise an option to earn a 50% interest in the Pumpernickel Project in Nevada.

Sierra Geothermal Power Corp., Vancouver Canada based geothermal development company, announced today that it decided not to exercise an option to earn a 50% interest in the Pumpernickel Project in Nevada.
The option agreement with Nevada Geothermal Power of October 2004, would have required the company to exercise the option on December 15, 2008, by providing US$ 4 million for work commitments. The company sees it important to conserve capital and focus on wholly-owned projects, in these difficult economic times.

Source: SGP company statement

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