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9460 Double R Blvd., Suite 200
Reno, Nevada, 89521

Contact Information

Tel: (775) 398-3700
Fax: (775) 828-0904
Email: info@ram-power.com

Early Stage Exploration Properties

Clayton Valley Project – Clayton Valley, Nevada, USA
New River Project – South Brawley, California, USA
Keystone-Mesquite Lake Project – South Brawley, California, USA
Delcer Butte Project – Elko County, Nevada, USA
Reese River Project – Lander County, Nevada, USA
Barren Hills Project – Lyon County, Nevada, USA
South Meager Project – British Columbia, Canada
Exploration Concessions - Chile

 

 

Clayton Valley Project – Clayton Valley, Nevada, USA

Project Description and Location

The Clayton Valley geothermal power project (the “Clayton Valley Project”) is a planned project to develop, construct and operate a minimum of one geothermal electric generation facility, one electric switchyard with transmission interconnection, one geothermal wellfield, and related auxiliary systems at a location approximately 40 km southwest of Tonopah, Nevada. 
The project consists of approximate 82,496 acres of land in seven individual lease blocks (the Alkali Hot Springs Lease Block, the Alum Lease Block, the Montezuma Lease Block, the Pearl Hot Springs Lease Block, the Silver Peak Lease Block, the Weepah North Lease Block, and the Weepah South Lease Block; collectively the “Clayton Valley Lease Blocks”).  Thirty-three (33) federal BLM geothermal resource leases are held for the Clayton Valley Project.  All leases were acquired by competitive bid between 2008 and 2010 or through the acquisition of Sierra in September 2010.  All leases are subject to the terms and conditions within the Federal Code of Regulations. 
The royalties paid to the Federal Government are 1.75% of electrical revenues received from the purchaser of the electricity generated by the project for the initial 10 years of operation. From the 11th year onward, the royalty rate increases to 3.5%. 
The Company plans to develop the resource with an anticipated temperature in the 299°F to 320°F range, pending resource exploration and confirmation and, ultimately to then construct an air cooled binary type power plant, which does not consume any cooling water, has near zero air emissions and has the lowest environmental impact on the surrounding area.

Accessibility, Climate, Local Resources, Infrastructure and Physiography

The Clayton Valley Project is located in Esmeralda County in west central Nevada approximately mid-way between Reno and Las Vegas along US highway 95, approximately 25 miles southwest of the town of Tonopah, Nevada.  Numerous paved and unpaved roads connect the several individual properties contained by the Clayton Valley Project.  Existing roads are largely adequate to support future development.  Transportation via road from ports in California is adequate for shipment of heavy equipment to the Clayton Valley Project. 
Tonopah, Nevada is the nearest population center with 2,627 residents recorded at the 2000 census.  The nearby community of Silver Peak, Nevada lies within the project area and had a 2000 census population of 182 but contains no services.  Silver Peak is home to the local office of the Chemetall Foote Corporation, which owns and operates a lithium brine extraction and processing facility within Clayton Valley. 
Properties included in the Clayton Valley Project extend into the adjacent Big Smokey Valley to the north and Montezuma Valley to the east.  The topography of the area ranges from flat playa to rolling, low relief hills and steep bedrock highlands.  The majority of geothermal targets lie below easily accessible, low relief terrain.  The valley floor lies at approximately 1,300 m above sea level.  The Clayton Valley basin receives between 10 and 13 centimeters of precipitation annually and temperatures vary from -4°F to 108°F. 
The Clayton Valley area lies within the NV Energy transmission service territory, and the project is based on a system impact study performed by NV Energy.  The Project may be interconnected to NV Energy’s Millers Substation with an 11-mile generator tie line from the Clayton Valley Project to a substation built by the Company.

History of the Property

Over 70 shallow (40-300 m) temperature gradient wells have been drilled throughout the Clayton Valley Project area since 1974.  These holes have identified several broad thermal anomalies; some of which remain untested by deep drill holes. 
Three exploration slim wells were drilled within the Clayton Valley Project (ranging in depth from 3,313 ft. to 5,410 ft.) by a third party between 2009 and 2010.  Several zones of high permeability were identified.  These wells also confirmed the presence of temperatures (up to 298°F) potentially capable of sustaining production in a binary power plant.  The wells were never flowed and although they were completed with perforated casing, injection tests have not yet been carried out.  

Geological Setting

Clayton Valley lies within a domain of elevated geothermal gradient in the Walker Lane geologic province.  The Walker Lane is a broad zone of active deformation approximating the boundary between the dominantly eastwest extension in the Basin and Range province and the dominantly northwest directed transform motion along the Pacific-North American plate boundary to the west.  Abnormally thin crust due to high extension rates and enhanced permeability due to complex interaction between northwest striking transform faults and northeast striking normal faults create favorable conditions for exploration and development of geothermal resources within Walker Lane.  The Fish Lake Valley geothermal area, also in Walker Lane, is located approximately 20 km west of the project area across the Silver Peak range.  The two areas share many geologic characteristics.  High angle, right lateral and normal faults are the likely hosts of the main geothermal resource in Clayton Valley.  Low angle normal faults resulting from extreme Tertiary extension may also play an important role in the development of a geothermal resource.
The shallow thermal anomalies documented within the Clayton Valley area range from 100° C/km to over 800° C/km.  Geothermometers from thermal fluid samples give resource temperature estimates of 302°F to 347°F.  Permeability capable of sustaining production wells is expected to occur as fracture permeability within discrete structural zones. 
No historic seismic events have been recorded in the immediate Clayton Valley area but numerous quaternary faults are observed cutting young alluvial fan deposits and pediment surfaces.  Nearby Fish Lake Valley is seismically active and hosts the Furnace Creek fault zone which boasts one of the highest Quaternary slip rates in the western United States.  The Coaldale Fault Zone, approximately nine miles to the northwest, is also seismically active. 
The geology to drillable depths below the Clayton Valley project is dominated by Neoproterozoic and Cambrian sedimentary rocks, ranging from shale and quartzite to limestone and dolomite, and Mesozoic intrusive rocks.  Volcaniclastic Tertiary sedimentary rocks are also abundant and vary considerably in thickness from 0-1,500 m.  All of these lithologies outcrop in the uplands of the nearby Silver Peak Range, Weepah Hills, Montezuma Range, and Palmetto Range. 

Resource Estimates

Based upon known geological and geophysical information, the Company estimates that the Clayton Valley Project has the potential to support up to 160 MW between several power plants.  GeothermEx has estimated recoverable reserves at 73 MW and 15.1 MW (90% probability) for the Alum and Silver Peak Lease Blocks, respectively.   Preliminary resource estimates by the Company for the Weepah North and South Lease Blocks, the Alkali Hot Springs Lease Block, the Montezuma Lease Block, and the Pearl Hot Springs Lease Block indicate that comparable reserves exist at these lease blocks as well. 

Planned Operations

The Company is in the final stages of completing an environmental assessment for exploration at the Pearl Hot Springs Lease Block, and the Alum, Silver Peak, and Pearl Hot Springs Lease Blocks are in the final stages of a process to designate them distinct Geothermal Production Units with the BLM.   
The Company has entered into a 20-year PPA with Nevada Power Company to sell 32 MW to the utility, with the actual amount to be established at between 24 and 49 MW no later than 12 months after the date of commercial operation of the Clayton Valley Project. The PPA was signed by NV Energy on February 2, 2010 and approved by the Public Utility Commission of Nevada on July 28, 2010. The PPA includes a number of milestones, including that the Clayton Valley Project will be in commercial operation by July 30, 2014.   The Company does not expect to meet the milestones under the PPA for resource delineation by May 30, 2012, completing construction financing and a resource feasibility study by December 30, 2012, and issuing a notice to proceed under an EPC contract for the Clayton Valley Project by January 31, 2013.  Nevada Power Company has the right to terminate the PPA if critical milestones as defined in the PPA, including the milestones for completion of construction financing and issuing a notice to proceed under an EPC Contract, are not satisfied by their due dates for completion.

Exploration and Development

In December 2010 a two meter temperature survey consisting of 129 points was carried out over the Pearl Hot Springs Lease Block identifying a broad anomaly up to 97oF at 6 ft.  The Company engaged a consultant to evaluate the geothermal resource for the Clayton Valley.

New River Project – South Brawley, California, USA

Project Description and Location

The New River Project is a planned project to develop, construct and operate a geothermal electric generation facility, an electric switchyard with transmission interconnection, a geothermal wellfield, and related auxiliary systems at a location approximately five miles southwest of Brawley, California.  The Company estimates that the 2,300 acre target area has potential to support up to 49.9 MW (net) of geothermal power production based upon data in their records.
The Company secured 1,934 acres of geothermal leases in the New River Project area in 2009, 2010 and 2011 (the “New River Project Leases”). The New River Project Leases provide for an initial term of five years with provisions for extension.  Once production of electricity begins, then the New River Project Leases continue as long as electricity or other geothermal resources are being produced in commercial quantities.
Annual rental payments are payable on each of the New River Project leases or have been prepaid. In addition, royalties are payable on each geothermal lease based upon gross revenue derived from the power plant(s) or from the sale of electricity.  Royalties are also payable based upon the gross proceeds received by the Company from any sale of extractable minerals or from utilizing hot water, steam, or thermal energy for purposes other than power generation.  The royalty to be paid to the geothermal interest owners are:  Four percent (4%) of the proceeds from the sale of electric power, two percent (2%) of the proceeds of the sale of by-products, and (10%) of the proceeds from the sale of steam or other geothermal resources.

To the Company’s knowledge no environmental liabilities exist at the New River Project site. Several significant permits have been secured for the initial exploration phase of the project including:

  • An Imperial County Conditional Use Permit providing for drilling of five wells;
  • A California Environmental Quality Act Initial Study/Negative Declaration;

Additional permits and approvals required for initial exploration include the following:

  • An Imperial County Air Pollution Control District Authority to Construct;
  • A California Regional Water Quality Control Board Waste Discharge Requirement; and
  • A California Division of Oil, Gas, and Geothermal Resources Notice of Intent to Drill a Geothermal Well.

Additional permits and approvals are required to construct and operate a geothermal facility, including:

  • An Imperial County Conditional Use Permit providing for construction of remaining wells, pipelines, generation facilities, and other associated structures;
  • A California Environmental Quality Act Environmental Impact Report;
  • An Imperial County Air Pollution Control District Authority to Construct;
  • A California Regional Water Quality Control Board Waste Discharge Requirement;
  • A California Division of Oil, Gas and Geothermal Resources Notice of Intent to Drill a Geothermal Well; and
  • A California Division of Oil, Gas and Geothermal Resources Injection Project Permit.

Accessibility, Climate, Local Resources, Infrastructure and Physiography

The New River Project is accessible from State Highway 86 and paved county roads and is approximately five miles southwest of Brawley, California.  Brawley, the nearest population center, had a population of approximately 22,000 at the 2000 census.  Rail, road, and sea transportation from the Los Angeles port is adequate for shipment of heavy equipment to the New River Project site.  The local roads are adequate to support construction of the New River Project.
The Company intends to rely upon excess water generated by operation of the New River Project to generate some of the water necessary for cooling. This water generated by operation of the New River Project is a byproduct of the conversion of geothermal steam into energy. Additional makeup water is expected to be obtained from an IID appropriation. The Company believes sufficient surface rights are present in the existing New River Project Leases to construct and operate a geothermal generation facility. The net power production from the New River Project plant is planned to be delivered by a short radial line and interconnected to the IID 92 kV transmission line, which is located adjacent to the New River Project area. 
The topography of the New River Project is characterized by flat terrain bisected by irrigation canals, drains, and other irrigation structures. The New River forms a natural boundary to the project area along the northwest side. The ambient temperatures range from 61°F to 122°F (16°C to 50°C).  The elevation of the proposed site is 26 ft. below sea level.  The average annual precipitation is approximately 2.4-3.6 in. per year. The predominant vegetation is farmed crops.

History of the Property

Four shallow and intermediate depth wells (varying in depth from 8,000 ft. to 9,800 ft.) were drilled and flow tested near the New River Project by a third party between 1978 and 1982. In addition, a prolonged (34 day) pressure interference test was run by a third party in this field during 1982-1983. Although these wells are now plugged and abandoned, they confirmed the existence of a high temperature reservoir of up to 278°C (532°F), and pressure interference testing has demonstrated the existence of high flow and storage capacities within the reservoir. A wellhead productivity of 700,000 pounds per hour (equivalent to approximately 7 MW) had been demonstrated by well testing.  However, these wells had a narrower diameter than is conventional for geothermal wells used today and the wells showed major formation damage. New wells with a larger diameter may yield higher productivity.
The New River Project property has been leased from the owners of the surface and geothermal mineral interests. No leases have override interests.

Geological Setting

The New River Project leasehold is located adjacent to the Mesquite Lake basin which is defined as a local zone of subsidence within the Salton Trough.  Resource delineation consists of a range of data including 40 shallow gradient holes and intermediate depth holes drilled up to 2,000 ft. and deep tests within the Mesquite Lake basin drilled to 13,000 ft. A thermal anomaly defines an area of shallow resource which covers an area of 11mi2.  The intermediate depth temperature profiles within this anomaly measure 200°F (94°C) at 2,000 ft. and predict 400°F (205°C) at 6,000 ft.  Based on the size of the shallow heat anomaly, up to a 49.9 MW development may be planned for this area with additional leases to be acquired.

For further description of the geological setting, please see section 4.2, “Current Development Properties – Orita Project – Imperial Valley, California, USA - Geologic Setting”.

Resource Estimates

Based upon known geological and geophysical information, the Company estimates that the New River Project may support up to a minimum of 49.9 MW of net power generation. 

Keystone-Mesquite Lake Project – South Brawley, California, USA

Project Description and Location

The Keystone - Mesquite Lake - Project is a planned project to develop, construct and operate a geothermal electric generation facility, an electric switchyard with transmission interconnection, a geothermal wellfield, and related auxiliary systems at a location approximately four miles southwest of Brawley, California.  The Company estimates that the 4,560 acre target area may support the development of one or more 49.9 MW net geothermal projects based upon data in its records.
The Company secured 1,245 acres of geothermal leases in the Keystone area in 2010 to complement the approximately 3,300 acres in the Mesquite Lake area, which the Company already held under lease (the “Keystone-Mesquite Lake Project Leases”). The Keystone – Mesquite Lake Project Leases provide for an initial term of five years with provisions for extension.  Once production of electricity begins, then the Keystone – Mesquite Lake Project Leases continue as long as electricity or other geothermal resources are being produced in commercial quantities.
Annual rental payments are payable on each of the Keystone – Mesquite Lake Project Leases or have been prepaid. In addition, royalties are payable on each geothermal lease based upon gross revenue derived from the power plant(s) or from the sale of electricity.  Royalties are also payable based upon the gross proceeds received from any sale of extractable minerals or from utilizing hot water, steam, or thermal energy for purposes other than power generation.  The royalty to be paid to the geothermal interest owners are:  3.2% - 4.5% of the proceeds from the sale of electric power, 2% - 10% of the proceeds of the sale of by-products, and 3.2% - 10% of the proceeds from the sale of steam or other geothermal resources.

To the Company’s knowledge no environmental liabilities exist at the Keystone – Mesquite Lake Project site. Several significant permits have been secured for the initial exploration phase of the project including:

  • An Imperial County Conditional Use Permit providing for drilling of six wells;
  • A California Environmental Quality Act Initial Study/Negative Declaration;

Additional permits and approvals required for initial exploration include the following:

  • An Imperial County Air Pollution Control District Authority to Construct;
  • A California Regional Water Quality Control Board Waste Discharge Requirement; and
  • A California Division of Oil, Gas, and Geothermal Resources Notice of Intent to Drill a Geothermal Well.

Additional permits and approvals are required to construct and operate a geothermal facility, including:

  • An Imperial County Conditional Use Permit providing for construction of remaining wells, pipelines, generation facilities, and other associated structures;
  • A California Environmental Quality Act Environmental Impact Report;
  • An Imperial County Air Pollution Control District Authority to Construct;
  • A California Regional Water Quality Control Board Waste Discharge Requirement;
  • A California Division of Oil, Gas and Geothermal Resources Notice of Intent to Drill a Geothermal Well; and
  • A California Division of Oil, Gas and Geothermal Resources Injection Project Permit.

Accessibility, Climate, Local Resources, Infrastructure and Physiography

The Keystone – Mesquite Lake Project is accessible from State Highway 86 and paved county roads and is approximately four miles southwest of Brawley, California.  Brawley, the nearest population center, had a population of approximately 22,000 in the 2000 census.  Rail, road, and sea transportation from the Los Angeles port is adequate for shipment of heavy equipment to the Keystone – Mesquite Lake Project site.  The local roads are adequate to support construction of the Keystone – Mesquite Lake Project.
The Company intends to rely upon excess water generated by operation of the Keystone – Mesquite Lake Project to generate some of the water necessary for cooling. This water generated by operation of the Keystone – Mesquite Lake Project is a byproduct of the conversion of geothermal steam into energy. Additional makeup water is expected to be obtained from an IID appropriation. The Company believes sufficient surface rights are present in the existing Keystone – Mesquite Lake Project Leases to construct and operate one or more geothermal generation facilities. The net power production from the Keystone – Mesquite Lake Project plant is planned to be delivered by a short radial line and interconnected to the IID 92 kV transmission line, which is located adjacent to the Keystone – Mesquite Lake Project area. 
The topography of the Keystone – Mesquite Lake Project is characterized by flat terrain bisected by irrigation canals, drains, and other irrigation structures. State Highway 86 forms the boundary to the project area along the west side with Keystone Road forming a boundary to the north side.  The ambient temperatures range from 61°F to 122°F (16°C to 50°C).  The elevation of the proposed site is 26 ft. (8 m) below sea level.  The average annual precipitation is approximately 2.4 -3.6 in. (6-7 cm) per year. The predominant vegetation is farmed crops.

History of the Property

Four deep wells plus a side-track of a well (varying in depth from 4,079 m to 4,267 m) were drilled and flow tested at the Keystone – Mesquite Lake Project by a third party between 1978 and 1982. In addition, a prolonged (34 day) pressure interference test was run by a third party in this field during 1982-1983. Although these wells are now plugged and abandoned, they confirmed the existence of a high temperature reservoir of up to 278°C (532°F), and pressure interference testing has demonstrated the existence of high flow and storage capacities within the reservoir. A wellhead productivity of 700,000 pounds per hour (equivalent to approximately 7 MW) had been demonstrated by well testing.  However, these wells had a narrower diameter than is conventional for geothermal wells used today and the wells showed major formation damage. New wells with a larger diameter may yield higher productivity.
The Keystone – Mesquite Lake Project properties have been leased from the owners of the surface and geothermal mineral interests. No leases have override interests.

Geological Setting

The Keystone – Mesquite Lake Project leasehold is located partially in the Mesquite Lake basin, which is defined as a local zone of subsidence within the Salton Trough.  Resource delineation consists of a range of data including 40 shallow gradient holes and intermediate depth holes drilled up to 2,000 ft. (610 m) and deep tests within the Mesquite Lake basin drilled to 13,000 ft. (3,935 m). A thermal anomaly defines an area of shallow resource, which covers an area of 11 mi2 (31 km2).  The intermediate depth temperature profiles within this anomaly measure 200° F (94°C) at 2,000 ft. (610 m) and predict 400°F (205°C) at 6,000 ft. (1,829 m).  Based on the size of the shallow heat anomaly, one or more 49.9 MW developments are planned for this area with additional leases to be acquired.
For further description of the geological setting, please see section 4.2, “Current Development Properties – Orita Project – Imperial Valley, California, USA - Geologic Setting”.

Resource Estimates

Based upon known geological and geophysical information, the Company estimates that the Keystone – Mesquite Lake Project may support a minimum of up to 49.9 MW of net power generation. 

Delcer Butte Project – Elko County, Nevada

The Company currently has approximately 14,794 acres under its control in the Delcer Butte area of Elko County, Nevada.  The Delcer Butte Project is a greenfield project that was discovered as a potential “blind” geothermal resource as a result of reconnaissance shallow drilling conducted in 1984 by a major operator.

Reese River Project – Lander County, Nevada

The Reese River Project is located in Lander County, Nevada along state highway 305 approximately 50 miles south of Battle Mountain, NV.  Five federal BLM leases totaling 10,686 acres are controlled by the Company (the “Reese River Lease Block”).  All of the controlled leases were acquired in September 2010 through the acquisition of Sierra.   The Reese River Lease Block has been designated by the BLM as a Geothermal Resources Unit.
The Reese River Project is situated within a low relief basin on the east flank of the Shoshone Range.  The course of the Reese River runs through the northern portion of the Lease Block.  Several Pliocene to Quaternary northeast trending normal faults run through the lease block and impart a structural control on the geothermal resource.  In 2006, commissioned by a third party, GeothermEx estimated a minimum generation capacity of 13 MW and a most likely capacity of 18 MW over 30 years.  Five exploration slim wells were drilled by a third party in 2007 ranging in depth from 1,600 ft. to 5,400 ft. and encountering temperatures over 298°F.  To date, no extensive zones of high permeability have been intercepted and none of the wells have flowed. 

Barren Hills Project – Lyon County, Nevada

The Barren Hills Project is located in Lyon County, Nevada along state highway 339/208 approximately 20 km south of Yerington, NV.  The company controls four federal BLM leases totaling approximately 5,154 acres (the “Barren Hills Lease Block”).  All of the controlled leases were acquired in September 2010 through the acquisition of Sierra.   The Barren Hills Lease Block has been designated by the BLM as a Geothermal Resources Unit.
Historic shallow temperature gradient well drilling has identified a thermal anomaly with commercial temperature gradients in the Barren Hills Project area.  The anomaly is associated with a north trending Quaternary range front fault.  Commissioned by a third party, GeothermEx has estimated the recoverable reserves at 55 MW for 20 years with a 90% confidence level.

South Meager Project – British Columbia, Canada

Under the terms of two licenses of occupation and one geothermal lease, all of which were granted by the British Columbia Ministry of Energy and Mines (expiring in 2017), the Company holds a 100% interest in approximately 4,267 hectares of land located approximately 170 km north of Vancouver, British Columbia. Between 2004 and 2005 Western drilled three wells on the South Meager Project.  The maximum measured temperature for each of the wells was 260°C, 259°C and 237°C, but none of the wells were able to flow. In 2008, Western conducted a testing program at the South Meager Project, under the direction of GeothermEx. 

Exploration Concessions – Chile

The Company, through its subsidiary Polaris Energy Chile Limitada (“PECL”), holds a geothermal exploration concession in Chile known as Aucan I that was awarded in early 2010.  Based on a review of the future projects conducted in the first quarter 2012, the Company remitted the concession back to the Chilean Government.