| February 16, 2010 Reservoir Advances Brodarevo Hydroelectric Projects in Serbia | ||||||||||||||||||||||||||||||||||||
| Vancouver, British Columbia (TSX Venture: REO) - Reservoir Capital Corp. ("Reservoir" or the "Company") is pleased to report positive progress on its feasibility studies for the Brodarevo 1 and Brodarevo 2 hydroelectric projects on the River Lim in southwest Serbia. Fieldwork and technical studies completed by Company personnel, Energoprojekt Hidroinzenjering Co. Ltd. (Serbia) and Technum-Tractebel Engineering S.A. (Belgium), have recommended a capacity increase from 48MW to 55.2MW, defined sites, provided recommendations for the design of the hydroelectric power plants and preliminary cost estimates for their construction, as summarized in the table below:
The Italian and Serbian governments have signed an agreement whereby Serbia will export green energy into Italy at prices substantially above those of the local market. The Company is engaged in discussions with various energy trading groups with the intent of signing an indicative Power Purchasing Agreement for the sale of electricity into the Italian market. The Company expects to be able to complete Pre-Feasibility Studies in the next month or two and Feasibility Studies by the end of 2010. The Company is working in parallel with the local authorities, towards being issued all the necessary permits for: relocation of parts of the road along the River Lim, acquisition of surface rights affected by the project and construction of the hydroelectric installations. About Reservoir Reservoir is a renewable energy company, engaged in development a 55MW hydroelectric project at Brodarevo in southwest Serbia. The Company has applied for a 32MW license at Vrutci and is studying various other hydroelectric opportunities in the region. In 2010 the Company was issued its first geothermal license at Vranjska Banja in southern Serbia and has filed applications for 3 additional licenses. Reservoir also holds a substantial portfolio of precious and base metal exploration projects, which it is looking to divest. Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and on the Frankfurt and Berlin Exchanges (symbol "ROC"). For further information on Reservoir Capital Corp. please consult the Company's website www.reservoircapital.ca or contact Miljana Vidovic, President; Miles Thompson, Chairman; or Kim Casswell, Corporate Secretary, at +1 (604) 662-8448. Investor Relations: Vancouver: Julia Maxwell, +1 (604) 662-8448 Toronto: Chris MacIntyre, +1 (416) 346-7660 Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release | ||||||||||||||||||||||||||||||||||||
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