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Thursday, October 17, 2013

Turkey:

Wasabi Energy - Tuzla Geothermal Resource is Potentially Greater than 80 MW (Proactive Investors UK)

Wasabi Energy, based in Melbourne, Australia, saw its shares power up on Thursday as its Turkish expansion plans were validated by some impressive numbers from its Pre-Feasibility Study (PFS).

The study was based on the installation of one of its 30 MWe Kalina cycle units, which turns excess heat back into energy.

The PFS, which was put together by a number of third parties, including US-based Power Engineers, said power can be generated from Tuzla as early as the second half of 2016.

Wasabi’s wholly-owned Turkish subsidiary Imparator Enerji has an option to acquire up to 50% of the Turkish company which owns Tuzla.

Wasabi, said the expansion project was underpinned by an updated resources estimate. This signaled that the most-likely size (P50) of the Tuzla geothermal resource is potentially greater than 80 MW, confirming the findings of past studies.

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