Our article hinted at the potential of the project but gave few details due to Mr. Smith's own restraint in avoiding splashy comments. While the company still doesn't seem to be engaged in a major public information campaign, on September 7, 2010 Sologen's partner Green Well Power did issue a press release concerning a new agreement with Sologen. This press release features Frank Smith's most expansive published statement on the potential of the project to date.
His statement on the potential place of the work in history is the sort of thing that seemed apparent as we listened to him in April but since he was not saying such things to the wider public at the time, our article remained circumspect.
Green Well Power's press release also goes into more detail about the project. It explains that the project will include the harvesting of methane and the re-injection of water into ground formations as well as the harvesting of energy geo pressure and heat. Our earlier article stated that the wells were in excess of 10,000 feet deep while this release specifies that the wells in question are at least 14,000 feet deep.
If this project works out it really may be seen as a pivotal one in movement toward truly renewable energy production.
Here is the release:
GREEN WELL POWER SIGNS AGREEMENT TO LICENSE TECHNOLOGY
Vancouver, Canada, 7 September 2010: Green Well Renewable Power Corp, (GWP) is pleased to report that it has agreed to a non exclusive license for its Total Flow Energy Conversion Technology (TFEC) by San Antonio based Sologen Systems LLC. Terms of the agreement require Sologen to undertake and complete the engineering,construction and testing of the commercial scale technology. In addition, Sologen will provide GreenWell with a 20% Net Profits interest in all projects where the technology is deployed.
Sologen Systems is engaged in the development of geopressured/geothermal (GPGR) energy resources found, in deep aquifers along the onshore US Gulf Coast. GPGR reservoirs are essentially subsurface reservoirs (+- 14,000 ft) containing hot pressurized brine saturated with dissolved methane (natural gas). Importantly, they contain three forms of energy:
(1) Chemical: methane gas dissolved in brine. Once separated from the brine it is then combusted to produce electricity in a gas turbine;Sologen plans to acquire and re-engineer wellbores in Texas where all three forms of energy can be harnessed. A U.S. Department of Energy Study confirmed that the recoverable energy potential of a GPGR well, based on flow rates of 20,000 bbls/day, are as follows: Chemical (2 Mw), Thermal (1 Mw) and Mechanical (500 Kw) ( approximate value: $250,000 per month). Once the energy has been extracted the water is re-injected into a lower pressure rock formation in the earth. Sologen expects to commission their first project in Q2, 2011.
(2) Thermal: hot brines with temperatures reaching 350F can be used to produce electricity using proven Organic Rankine Cycle technology;
(3) Mechanical: high brine flow rates (over 20,000 barrels per day) and high wellhead pressures can be used to power GreenWell’s own TFEC technology to generate electricity.
Mr. Frank Smith, President of Sologen Systems LLC comments: “Sologen Systems is thrilled by this opportunity to take the Total Flow Energy Conversion Technology from prototype to commercial deployment. . The potential to generate megawatts of baseload renewable power from end-of-life wells along the U.S. Gulf Coast and elsewhere is immense. I believe history will revere this kind of project as a pivotal stepping stone on the path to a truly renewable energy driven society.”
Sologen systems LLC, headquartered in San Antonio, Texas was organized in 2008 to finance and develop solar, geothermal and geopressured energy resources in order to produce and sell clean, green electricity. For more information contact Frank Smith at 210-544-5452 or visit www.sologensystems.com
GreenWell Renewable Power is a leading-edge alternative energy developer that is pioneering the production of electricity from depleted or end-of-life oil and gas wells. For more information contact Malcolm Bell at 604.921.2510 or Robert Young at 604.682.5123 or visit www.GreenWellPower.com
On Behalf of the Board
Green Well Renewable Power Corp
J. Malcolm Bell, President and Director