TSX-V TRADING SYMBOL: CEC
VANCOUVER, March 14 /CNW/ - Compliance Energy Corporation (the "Company")
announces that it is continuing discussions with BC Hydro ("Hydro") regarding
the Company's Electricity Purchase Agreement with Hydro and the Princeton
Power Project will remain on hold until after the results of Hydro's phase one
bioenergy power call are publically available. It is anticipated that the
results of the phase one power call will be available by the fall of 2008 at
which time a phase two bioenergy call will be launched following the
completion of the Ministry of Forests and Range's biomass inventory and forest
A study completed on behalf of the Company by the Timberline Natural
Resource Group forecasts that there will be ample fuel in the form of roadside
residuals from existing logging operations and passed over beetle killed pine
in the Princeton region to fuel the plant for over 25 years. Salvaging the
standing dead pine for fuel would allow reforestation to be accelerated, would
help mitigate the risk of wildfires, benefit the forest industry in the
recovery of saw logs from infested areas and enhance economic activities in
the woods industry for local communities.
Electricity from a biomass fuelled power plant is available continuously
24 hours per day unlike other forms of renewable electricity which might not
be available when the electricity is required. The Princeton Power Project
would contribute to the Provincial goal of becoming electricity self
sufficient by 2016.
Compliance Energy Corporation's shares trade on the TSX Venture Exchange
under the symbol CEC and investor information is available on the Company's
web page at www.complianceenergy.com.
On behalf of the Board of
COMPLIANCE ENERGY CORPORATION
Chief Executive Officer
The Preliminary Assessment is preliminary in nature and includes inferred
coal resources that are considered too speculative geologically to have
economic considerations applied to them that would enable them to be
categorized as coal reserves and there is no certainty that the Preliminary
Assessment will be realized. Coal resources that are not coal reserves do not
have demonstrated economic viability.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Note: This release contains forward-looking statements that involve risks
and uncertainties. These statements may differ materially from actual future
events or results. Readers are referred to the documents, filed by the Company
on SEDAR at www.sedar.com, specifically the most recent reports which identify
important risk factors that could cause actual results to differ from those
contained in the forward-looking statements. The Company undertakes no
obligation to review or confirm analysts' expectations or estimates or to
release publicly any revisions to any forward-looking statements.
For further information:
For further information: Rob Roney, Investor Relations at (250)
897-0437; or Rod Shier, CFO at (604) 689-0489