Wilco Energy: 640 acre acquisition opportunity in Nevada, $100,000
Project work on site, Nevada (source: Wilco Energy)
Alexander Richter
11 Sep 2013
The geothermal opportunity represented here is a 640 acre geothermal lease hold in Nevada. The lease for sale is hold by Wilco Energy, LLC which is now up for sale.
Wilco Energy, LLC was formed in November 2009 as a Nevada Limited Liability Company. Wilco Energy has as its asset a 640 acre geothermal lease on fee (non federal) lands in Pershing County, Nevada. The property is located seven miles east of Lovelock, Nevada adjacent to Interstate Highway 80. Access to the property is from the paved Coal Canyon Road which runs through the southwest corner of the property. The western half of the property is level and gently sloping toward the west. This area of the property contains two identified up-flow thermal zones and is an ideal location for wells and plant facilities.
The lease is fully paid to June 2014. To date $56,500 in advanced royalty has been paid. In addition, a $200,000 work commitment required by the lessor has been fully satisfied.
Existing Data
Eighteen temperature gradient holes (~500ft), two intermediate-depth holes (~1,500ft) and a 8,000 ft exploratory well have been drilled in the area. Subsurface temperatures have demonstrated a shallow outflow zone in the western portion of the lease area with maximum temperatures in excess of 210°F at depths of 300 -500 feet below surface. To the east a deep exploratory well indicated a maximum temperature of 282°F at 7,000 ft, suggesting the primary upflow zone of the geothermal system is associated with typical Basin and Range structures along the west side of the Humboldt Range. Similar existing geothermal systems occur along this trend e.g. Rye Patch (20 miles NE); Brady’s (50 miles to the SW).
In addition to drilling, extensive geophysical and geochemical studies have been completed including gravity and magnetic, dc resistivity soundings and profiling, time domain EM, scalar MT-AMT and telluric profiling. Getty Oil completed the initial exploration, drilling and development in the area assisted by University of Utah under grant funds from the US Department of Energy.
Geothermal Potential
On the northern boundary of the property a Rye Patch Gold exploration drill hole encountered live steam at a depth of 1,272 feet. In addition two upflow thermal zones were identified in a soil temperature gradient survey completed by Wilco Energy. These upflow thermal zones correlate with elevated down-hole temperatures noted by Rye Patch Gold during exploration.
The Wilco section is located approximately 1 – 1.5 miles NE of the Getty exploration well 44X-10 along strike of the range-bounding fault. The range fault appears to be truncated to the north by a NW trending normal fault which displaces Tertiary –age volcanic rocks against the basin alluvium. The Wilco section is located partially west of this fault intersection zone and as such represents a prime geothermal target for drilling.
Terms
The Wilco Energy shareholders will transfer 100% interest in Wilco Energy, LLC and the asset lease to the buyer. The asking price is now $1o0,000 USD (updated January 12, 2014).
Information
Trabits Group, LLC is the majority shareholder of Wilco Energy and the managing member. Data packages and information can be obtained from Trabits Group by calling 1.907.357.9850 or by email George@trabitsgroup.com .
