Qualibou to develop Caribbean geothermal resource

In Nevada, Qualibou Energy, Inc. announced a binding agreement with the Government of St. Lucia to develop the island’s geothermal resources. The resource, in the Sulphur Springs area, has been extensively explored since the mid 1970’s and nine wells have been drilled to date. Steam was found in five of the exploratory boreholes with one of the deeper wells returning steam and water at 235 C. The resource has proven reserves of 30 MW and probable reserves of an additional 140 MW. The St Lucia concession is the company’s first in geothermal, which it acquired the through the reverse acquisition of UNEC Holdings, Inc.