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Qualibou Energy Inc. Announces Completion of Updated Appraisal.

Qualibou Energy Inc. (OTCPK:QALB) today announced completion of an updated GeothermEx Inc. appraisal for our St. Lucia Sulpher Springs resource concession area.

GeothermEx Inc., a Slumberger Company, and a leading geothermal consulting firm, has completed their analysis and estimates the Sulpher Springs concession area to have a much larger Proven resource value than earlier studies had indicated.

Stephen Baker, President and CEO of Qualibou Energy stated “This new study is terrific news for Qualibou. Our Proven resource reserves are substantially greater than we first thought. With this increased value and certainty, we have upgraded our phase one build out plans from 12 MW to 20 MW (a 67% increase) as was described in yesterdays Partnership Financing Press Release. This report also reduces our risk of development while driving financial economies of scale into Qualibou’s first project located on the island of St. Lucia.”

Baker further stated “This is an exciting time to be part of the Geothermal community. With many opportunities to choose from, St. Lucia provides us with a terrific launch pad for further concessions around the globe.”

Qualibou Energy Inc. is an emerging renewable energy company with a growth strategy emphasizing greenfield developments. The company’s first geothermal concession is located on St Lucia. The Company’s proven and probable reserves are 60.1 million barrels of oil equivalent (BOE).



Category/ies:St Lucia News.
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