Reservoir Capital Corp.
TSX VENTURE : REO
FRANKFURT : ROC
BERLIN : ROC

Reservoir Capital Corp.

August 05, 2009 07:30 ET

Reservoir Opens Subsidiary to Evaluate Hydro-Power Opportunities in Bosnia

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) - Reservoir Capital Corp. (TSX VENTURE:REO)(FRANKFURT:ROC)(BERLIN:ROC) ("Reservoir" or the "Company") is pleased to announce that it has opened a branch office for its wholly-owned subsidiary Renewable Energy Ventures (REV) in Bosnia and Herzegovina, within the autonomous region of the Republic of Srpska. The Company is in the act of appointing Mr. Jelenko Malis as Country Manager, responsible for establishing Reservoir's presence in the country.

The State-owned utility, Elektroprivreda Republika Srpska (ERS) currently produces 2,985 GWh annually of electricity from hydroelectric plants, but estimates that only 30% of the available hydro potential is being used. The government has begun a concerted effort to attract foreign investment to develop these untapped hydro resources and is seeking investors for various projects on the Drina, Lim and Neretva Rivers.

The local power grid is regulated in accordance with the standards of the Union for Coordination and Transmission of Electricity (UCTE) and the European Union. The country currently has excess capacity and exports approximately half of its electrical surplus into the European market.

Reservoir President and CEO, Miljana Vidovic stated, "Opening our new office in Bosnia is an important step for our company. Our mission is to build a sustainably sized renewable energy business in the region. We believe now is the ideal time to extend our reach beyond the projects we have currently in Serbia."

About Reservoir

Reservoir Capital Corp. is a Southeast Europe focused run-of-river hydroelectric developer working in Serbia and Bosnia. The Company is currently conducting pre-feasibility studies on two hydroelectric projects totaling 48MW on the River Lim in southwest Serbia and actively seeking new hydro projects. Reservoir's common shares trade on the TSX Venture Exchange under the symbol "REO" and on the Frankfurt and Berlin exchanges under the symbol "ROC".

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Reservoir Capital Corp.
    Miljana Vidovic
    President
    (604) 662-8448
    or
    Reservoir Capital Corp.
    Miles Thompson
    Chairman
    (604) 662-8448
    or
    Reservoir Capital Corp.
    Kim Casswell
    Corporate Secretary
    (604) 662-8448
    or
    Reservoir Capital Corp. - Vancouver
    Julia Maxwell
    Investor Relations
    (604) 662-8448
    (604) 688-1157 (FAX)
    or
    Reservoir Capital Corp. - Toronto
    Chris MacIntyre
    Investor Relations
    (416) 640-1932
    info@reservoircapitalcorp.com
    www.reservoircapitalcorp.com