The Code will provide a positive step forward towards increasing transparency in the reporting of geothermal assets as well as increase investor comfort in the space.
Reykjavik, Iceland (PRWEB) March 12, 2010
On March 3rd, 2010, CanGEA released the Code and hosted a Geothermal Code Investment Seminar and Reception in Toronto on March 3rd, 2010. On this occasion CanGEA opened the markets at the Toronto Stock Exchange. At the seminar Mr. Arnar Hjartarson, Mannvit's Geothermal Reservoir Physicist and qualified person under the Code, presented Mannvit's experience on reporting geothermal resources and reserves assessments and classifications. Mannvit has prepared reports on geothermal resources and reserves for public and private geothermal developers and power companies, based on the Canadian and Australian Geothermal Reporting Codes. "The Code will provide a positive step forward towards increasing transparency in the reporting of geothermal assets as well as increase investor comfort in the space," says Mr. Runólfur Maack, CEO of overseas operations at Mannvit.
About the Canadian Geothermal Reporting Code
The Canadian Geothermal Code for Public Reporting (the "Code") provides a minimum set of requirements for the public reporting of Exploration Results, Geothermal Resources and Geothermal Reserves. The Code will provide a basis for transparency, consistency and confidence in the public reporting of geothermal information. The Code will serve to increase investor confidence and interest in the geothermal energy sector through the standardization of geothermal reporting.
About Mannvit Engineering
Mannvit Engineering of Iceland provides a full range of engineering and technical research services and is leader in geothermal energy development. Since the early seventies, Mannvit has been involved in the development of most of the power plants in Iceland, both geothermal and hydroelectric. Services for these projects range from research and preparatory work to complete design and construction management. Mannvit is in partnership with Technip Inc., USA, and offers geothermal project developers and financiers a single point of responsibility for all key areas of geothermal development in the United States, including consulting, research, financial analysis, project and risk management, and exploration as well as engineering, design, procurement, construction management and power plant start up services. For more information, please visit http://www.mannvit.com.
CEO, Overseas Operations
Tel: +354 422 3109