Reservoir Granted Three-Year Extensions for Brodarevo Energy Permits

Reservoir Capital Corp. (TSX VENTURE:REO)(BERLIN:ROC)(FRANKFURT:ROC)
("Reservoir" or the "Company") is pleased to report that on January 25, 2012,
the Ministry of Infrastructure and Energy of the Republic of Serbia, granted
three-year extensions for the Brodarevo-1 and Brodarevo-2 Energy Permits to the
Company's Serbian subsidiary Renewable Energy Ventures d.o.o. ("REV"). Under the
terms of the new permits, the Company must begin construction within the
three-year period, though subject to compliance with most other conditions, may
request a one-year extension of this deadline. The permits also confirm the
proposed 58.4 megawatt installed capacity and the locations of the dams as
proposed in the Company's Pre-Feasibility Studies completed in 2010 and approved
by the Government of Serbia in 2011.


Miljana Vidovic, President and CEO of Reservoir commented: "These extensions are
a very important vote of confidence in Reservoir from the Serbian Government and
ensure we have the time to complete our Feasibility Studies, permitting and
project finance in an orderly manner."


Reservoir's consultants, Energoprojekt Hidroinzenjering Co. Ltd.
("Energoprojekt") are completing feasibility studies for the construction of two
low-head run-of-river hydroelectric projects Brodarevo-1 (26 MW) and Brodarevo-2
(32.4 MW), each designed with three turbines for an average installed flow of
150 cubic metres per second and four spillways with surface and submerged
overflows capable of passing through much larger amounts of water. The main
design studies for the river diversion that will need to be completed to make
space for the dam construction are scheduled for completion in February.
Separate Feasibility Studies for the relocation of two sections of the M-21
highway affected by the Brodarevo Projects are also nearing completion.


Quality Control

Deputy Director of the Company's operating subsidiary REV d.o.o., Milan Cusic
M.Sc. Dipl. Eng., a graduate of the Faculty of Mechanical Engineering of the
University of Belgrade (1997) and previously Chief Hydro Engineer for Serbian
State Utility EPS (2003-2010), is responsible for the preparation of the
technical information in this release.


About Reservoir

Reservoir is a renewable energy company that is engaged in the development of a
58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds
four geothermal exploration licenses in Serbia and has applied for three
hydroelectric concessions on the Cehotina River in Bosnia (17.75 MW).
Reservoir's common shares trade on the TSX Venture Exchange (symbol "REO") and
on the Frankfurt and Berlin Exchanges (symbol "ROC").

(TSXV:REV)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024