Mtprinceton Henderson

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Mt. Princeton Geothermal LLC

Iceland Trade Mission

Governors Energy Office

and Colorado School of Mines

7-8 January 2009

Frederick B. Henderson III, Ph.D.

Chief Scientist, Mt. Princeton Geothermal LLC


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Mt. Princeton Geothermal ProjectFirst Geothermal Electricity in Colorado

Stages

I. Geology, Geophysics, Land LeasingPermitting - 2008II. Thermal Gradient Drilling

Targeting -

2009

III. Deep Slim Hole Drilling & Pump Tests - 2009IV. Production & Injection Drilling and PlantDevelopment -

2010


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Baseline Geothermal Electricity

Why Geothermal Energy Now?

1. Onlybaseline alternative energy

2. 24/7 on off3. No air or water pollution4. No storage requirement5. Upfront cost; no fuel supply required6. In many US Co-op back yards


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Mt. Princeton


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Study Area

BuenaVista

Salida

San LuisValley

TOPOGRAPHYUpper Arkansas River Basin

Source: USGS SeamlessIn ArcGIS database

N


6/3110 km

Hot Springs

Occur Along the RangeFront Fault

Appear at Offset Zones

Altered Quartz Monzonite

Temperatures Vary

40-82 C

Unique Geochemistry

N

http://earth.google.com

SawatchRang

e

Mosquito

Rang

e

Hot Springs

J. Dimick, 2007


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Primary Target

Deep (2,000 3,000) Fracture ReservoirProve sustainable flow of 15,000 gpm for 10MW production

Deep target for

1) hotter temperature ~ 250F

2) Prove no surface water table impact


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Mt. Princeton Hot Springs Well Log Study


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2006LINE

PROPOSED2009LINE

2008LI

NE

BUENA VISTA

GIS Database

Based on Chaffee CountyGIS database; D. Reimer

N

1 Mile

GravityPoints

GravityPoints

SP &Resistivity

Mt Princeton H.S.

2005 LINE

A

A


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A A

HEAT SOURCE

LITHOLOGY STRUCTURE

Fault with

Inferred Motion

Fractures

HYDROTHERMALSYSTEM

Mt Princeton

Hot Springs

Maxwell

Park

Trout Creek


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Total field magnetic intensity vs distance

along 2008 CSM seismic line

MPHS


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High

Low

(Dots only!)North Line Gravity


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398000 398100 398200 398300 398400 398500 398600 398700 398800

4287700

4287800

4287900

4288000

398000 398100 398200 398300 398400 398500 398600 398700 398800

4287700

4287800

4287900

4288000

398000 398100 398200 398300 398400 398500 398600 398700 398800

4287700

4287800

4287900

4288000

SP Response Contours and ArcGis

Elevation and Roads MapUTM, northing

UTM, easting

mV

Orientationof Fracture

Silica Precipitation causes plugging.

-30

-25

-20

-15

-10-5

0

5

10

15

20

25

3035

40

45

50

55

60

65

70

75

80

85

90


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Fault Maps after: Cleaning up the lines

Shallow

Deep

Very Deep

Shear

Drill Location

Where to drill?

Chalk

Cliffs


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Add SP & DC

Fault Maps after: Self PotentialResistivity

Shallow

DeepVery Deep

Shear

North Rift


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Stage II: Thermal Gradient Drilling

Description and Goal Thermal gradients and Heat Flow State heat flow map AMAX 1973-5 heat flow drilling

Plans for 2009

Permitting

Estimated Cost: $100,000 +


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Thermal Gradient (degrees/distance)

X Rock Heat Conductivity= Heat Flow

(in mW/m)


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Mt. Princeton


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AMAX WELLSAMAX WELLS


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Permitting Process and Land Owner Response

Proposed Thermal Gradient Drilling

4-6 500

holes (not wells) to augment AMAX holes

Temperature gradient measured every 10

Rock heat conductance X thermal gradient

yields heat flow value

High heat flow indicates deep heat source

Completed heat flow anomaly helps define deep (3,000-

5,000

deep geothermal reservoir target


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Permitting Process and Land Owner ResponseRon Cabe

Two Meeting MPGLLC and DWR Mt. Princeton Project new to state

new ground

Project dubbed Non-Consumptive Pump & Dump

While non consumptive, exploration (thermal gradient)drilling requires construction permit

Later deep drilling needs construction and production

permits

Geohydrologic Studies required for non tributary permit


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Future Plans and New Technologies General Plan

Fall 2008; Additional geophysicsas needed (CSM Proposal) $150,000+Thermal Gradient Drilling $150,000

Spring Summer 2009: Initialdeep reservoir drilling $ 2-4 Million Fall 2009 2010: Additional production andre-injection drilling $5+ Million

Surface plant development $30-40 Million


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Geothermal Hot Spring Energy:The perfect exploration storm

1. Exploration I: Hot springs + transmission lines2. Exploration II: Geology +thermal gradient ID

3. Deep drilling + PUC allowed utilitydevelopment funding + Extended Tax Credits+ PPPAs4. New technology: UTC-type mid Theat systems5.

New

markets: Utility required profile

standards 20% alternative energy by 2020

11.5 years


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Shallow Temperature Survey (STS)

Mt. Princeton Geothermal LLC is workingwith GEO, CSM and CGS to develop a

STS system in the Mt. Princeton-ChaffeeCounty area in order to do a state wide

first cut of hot springs prospects for largethermal indication of producible deeptargets. Development costs $55,000


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OPPORTUNITIES

FOR INVESTMENT

Documents

Mtprinceton Henderson