RENO, Nev., April 11, 2011 /PRNewswire/ -- MUSTANG GEOTHERMAL CORP. (OTCBB: URXE) ("Mustang" or the "Company") announced today the launch of its redesigned corporate website that delivers the very latest information about the Company and its exploration and development activities. The new website address is www.mustangeothermal.com.
Richard Bachman, the President and CEO of the Company stated, "We want our website to provide a snapshot of the Company and an up to date description of our most advanced projects as they move forward. There is significant interest in the renewable energy industry generally, and specifically in the geothermal energy segment, so, we are very pleased to launch our website with a new look and comprehensive navigation to facilitate our commitment to communicate with our shareholders."
Geothermal energy refers to the power generated using heat from the Earth's core. It is considered renewable energy because this energy captures the nearly infinite heat that is generated by ongoing heat-processes at the molten core of our planet. The world's first geothermal power plant was constructed in 1911 in Larderello, Italy, and continues to generate power to the present day!
It is Mustang's objective to discover, develop, and operate a geothermal power plant within the next three years. Mustang owns a 100% interest in 6,620 hectares (16,350 acres) of Federal geothermal leases in five project areas in the State of Nevada.
In 2010 the State of Nevada had 19 privately owned, geothermal power plants, producing a total 2.06 million megawatt hours (MWH) of renewable electrical power for sale, providing the power needs to approximately 180,000 households for one year. The value of geothermal power generated in Nevada in 2010 is estimated at 268 million dollars based on price of $0.13 per kilowatt-hour paid by the average Nevada household.
Nevada ranks second in geothermal electrical power production in the United States behind California. Mustang is planning for the commencement of exploration activities on high priority targets identified on its geothermal properties in Nevada. The Company is negotiating with contractors on the availability of a drill rig for the 2011 field season in Nevada. Additionally, the Company has mobilized geologic field teams for ground truthing and water testing of thermal springs on its Nevada properties.
This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.
On behalf of the Board:
CEO and Director
MUSTANG GEOTHERMAL CORP.
SOURCE MUSTANG GEOTHERMAL CORP.