Sierra Geothermal Power Corp.
TSX VENTURE : SRA

Sierra Geothermal Power Corp.

November 28, 2007 09:00 ET

Sierra Geothermal Power Reports Positive Drilling Results at Reese River, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2007) -

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Sierra Geothermal Power Corp. (SGP) (TSX VENTURE:SRA), a renewable energy company focused on the exploration and development of geothermal resources, today announced positive results upon completion of the temperature gradient well 13-4 at its Reese River project in Lander County, Nevada.

Well 13-4 was drilled to a depth of 1,580 meters (5,184 feet), which is the deepest well drilled on the property to date. The recorded temperature as of November 23, 2007 was 148 degrees Celsius (298 degrees Fahrenheit) at the bottom of the hole.

"This temperature, combined with the results from well 56-4, confirms the existence of a large heat flow anomaly at drillable depths," said Gary R. Thompson, President and CEO of SGP. "We plan to conduct additional temperature surveys on well 13-4 as we anticipate the temperatures may increase as the well establishes equilibrium with the surrounding formation. The final drilling results and the recently acquired seismic data will help us understand the sub-surface geology at Reese River for further exploration and development."

SGP Updates

SGP is in the process of obtaining permits for exploration, production assessment drilling and geophysical surveys at its three most advanced projects -- Silver Peak, Alum and Wilson Hot Springs, in Nevada. The first production assessment well at Pumpernickel is planned for early 2008. The company has the right to earn a 50% interest from the project operator, Nevada Geothermal Power Inc.

About Reese River

The Reese River site was rated by Richards and Blackwell as one of the top 15 undeveloped geothermal prospects in Nevada. Phillips Petroleum and Amax Exploration drilled 52 temperature-gradient holes during the 1970's and 1980's. Contoured data of the temperature-gradient wells outline a heat-flow anomaly that is approximately 4.8 km (3.0 miles) long in the northeast direction by approximately 1.6 km (1.0 mile) wide. The maximum calculated heat flow at Reese River is 1,117 MW/m2. Using a Monte Carlo simulation, the potential geothermal resource at Reese River was estimated to have a 90% probability of generating 13 MW and a 50% probability of exceeding 30 MW. A 30 MW power plant can produce enough electricity to power 24,000 homes.

About Sierra Geothermal Power Corp.

SGP is a Vancouver-based renewable energy company focused on the exploration and development of clean, sustainable geothermal power. Geothermal power plants produce long-term revenues and provide continuous base-load power, often at or above 95% capacity. SGP's 17 projects comprise a total of 88,000 acres of geothermal land assets in Nevada and California. The company intends to advance the development of its portfolio of projects through a combination of equity and/or joint ventures, while continuing to evaluate additional acquisitions.

This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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