("DEEP" or the "Company") announces that SLB's GeothermEx consulting services have completed a geoscience and reservoir engineering technical review of DEEP's geothermal projects. Geoscience and reservoir engineering technical review of DEEP's geothermal project. Their findings support DEEP's development and operational plans and conclude that the geothermal resource is capable of generating heat for a sustained period of 40 years.

The SLB's review was based on DEEP's Phase I geothermal pilot project, a 5 MW (4 MW on average after seasonal fluctuations) binary geothermal power plant supplied by two production wells and two injection wells, followed by a Phase II 25 MW (20 MW on average after seasonal fluctuations) power plant as a subsequent expansion.

DEEP anticipates further future construction in increments of 25 to 50 MW, potentially totaling 180 MW. Phases I and II will provide base load electric capacity to approximately 25,000 homes.

DEEP conducted surface and subsurface resource exploration and reservoir testing activities to understand the geothermal resources in the project area and their ability to support the development of a geothermal power generation facility.GeothermEx reviewed and evaluated the exploration activities conducted by DEEP, including geology, geophysics, sustained flow testing, brine composition, temperature distribution, and geologic controls on permeability.

To assess the resource's ability to support the project's development plan, GeothermEx utilized and updated DEEP's full-field thermal numerical reservoir model to quantify the impact of various uncertainties on the resource's long-term sustainable production.DEEP's numerical model was created on the SLBPetrel™ E&P software platform and utilized the INTERSECT™ high-resolution reservoir simulator to perform flow The simulations were run by experts from the GeothermEx team with sensitivity cases for different production rates, injection temperatures, production and injection pressures, reservoir permeability and conductive heat transfer rates in the casing section.

GeothermEx's assessment includes the following conclusions:

• The results of our detailed numerical modeling analysis indicate that DEEP has prepared a carefulResource Development and Operations Plan, to ensure continued thermal energy generation throughout the life of the project. The well field layout utilizes 3,000 meters of lateral wells with alternating injection and production wells spaced 500 meters apart. This configuration is well suited for ongoing operations given the petrophysical reservoir properties determined from wells that have been drilled into the target sandstone reservoir ("DEEP Sand"). The project design and well layout allows for conductive heat transfer from above and below the DEEP Sand to sustain thermal energy generation.DEEP's development approach is also prudent as DEEP will gain resource knowledge by operating a 5 MW Phase 1 pilot plant prior to implementation of a 25 MW Phase 2 plant.
• Modeling results show that the project design utilizes changes in fluid density to reduce pumping power consumption. Due to the higher density of the cooling fluid, the project can be injected at zero wellhead pressure, and the higher temperature (lower density) output fluid reduces production pumping power requirements.
• Sensitivity modeling runs of DEEP Sand permeability showed minimal changes in well productivity due to beneficial conductive heat transfer from above and below the DEEP Sand.

This due diligence work by SLB is considered the recognized standard for geothermal investments.GeothermEx has evaluated more than 8.5 gigawatts (GW) of clean geothermal power and more than $14 billion in related investments.

DEEP is grateful for the advice and guidance it has received from GeothermEx Geothermal Consulting Services since 2013, from early exploration planning to well design, well testing, reservoir modeling and now resource confirmation.

"GeothermEx is the gold standard for geothermal resource assessment. The aggressive and comprehensive review by the world's most recognized geothermal resource consulting and services firm is a major milestone as we move into the construction of our first facility," explains DEEP's CEO, Kirsten Marcia, adding, "All of the drilling, testing, reservoir modeling, and well design work that DEEP has completed have all brought us to this momentous occasion. It gives us confidence that the geothermal resource will be able to support the first and second phases of the development program for 40 years of continued power generation."

The *INTERSECT simulator is a joint product of SLB, Chevron and Total.

Source: DEEPEarth Energy Production

DEEPEarth Energy Production Corp. ("DEEP" or "the Corporation") announces that SLB 's GeothermExconsulting service has completed a geoscience and reservoir engineering technical review of DEEP's geothermal project. Their findings support the ability of the geothermal resource to sustain thermal energy production for 40 years based on DEEP's development and operations plan. Their findings support the ability of the geothermal resource to sustain thermal energy production for 40 years based on DEEP's development and operations plan.

SLB'sreview was based on DEEP's Phase 1 geothermal pilot project, which is a 5 MW nameplate (4 MW average after seasonal fluctuations) binary geothermal plant supplied by 2 production wells and 2 injection wells, followed by a Phase 2 - 25 MW nameplate power plant. The SLB's review was based on DEEP's Phase 1 geothermal pilot project, which is a 5 MW nameplate (4 MW average after seasonal fluctuations) binary geothermal plant supplied by 2 production wells and 2 injection wells, followed by a Phase 2 - 25 MW nameplate power The plant is a 5 MW nameplate (4 MW average after seasonal fluctuations) binary geothermal plant supplied by 2 production wells and 2 injection wells followed by a Phase 2 - 25 MW nameplate power plant (20 MW average after seasonal fluctuations) as a later expansion.

DEEPanticipates additional future buildouts in 25 to 50 MW increments, potentially leading to a total of 180 MW for the project. Phase 1 and 2 would provide Phase 1 and 2 would provide baseload power capacity for approximately 25,000 homes.

DEEPconducted surface and subsurface resource exploration and reservoir testing activities to characterize the geothermal resource in the Project area and its ability to support the development of geothermal power facilities. DEEPconducted surface and subsurface resource exploration and reservoir testing activities to characterize the geothermal resource in the Project area and its ability to support the development of geothermal power facilities. GeothermEx reviewed and evaluated the exploration activities undertaken by DEEP, including geology, geophysics, sustained flow testing, brine composition, temperature distribution and geologic controls on permeability.

Toassess the resource's ability to support the project development plan, GeothermEx evaluated, utilized and updated DEEP' s full-field thermal numerical reservoir model to quantify the impact that various uncertainties may have on the long-term sustainability of the project. s full-field thermal numerical reservoir model to quantify the impact that various uncertainties may have on the long-term sustainability of production from the resource. DEEP's numerical model was created in the SLB Petrel™ E&P software platform and utilizes INTERSECT™ high-resolution reservoir simulator to perform the flow chart. resolution reservoir simulator to perform the flow simulation calculations. Sensitivity cases were run by the GeothermEx team of experts using different production rates, injection temperatures, and temperature profiles. Sensitivity cases were run by the GeothermEx team of experts using different production rates, injection temperatures, production and injection pressure, reservoir permeability and conductive heat transfer rate Sensitivity cases were run by the GeothermEx team of experts using different production rates, injection temperatures, production and injection pressure, reservoir permeability and conductive heat transfer rate within the cased portion of the wells.

GeothermEx's assessment includes the following conclusions.

• The results of our detailed numerical modeling analysis indicate that DEEP has prepared a prudent resource development and operations plan This configuration is well suited for sustaining operations, given the petrophysical reservoir's high capacity for thermal energy generation for the life of the project. The well field layout has 3,000-metre lateral wells that alternate between injectors and producers and are separated by 500 metres. This configuration is well suited for sustaining operations, given the petrophysical reservoir properties determined from wells that have been drilled into the target sandstone reservoir (the "DEEP Sand"). The project design and well layout enable conductive heat transfer from above and below the DEEP Sand to sustain thermal energy production. 's development approach is also prudent in that DEEP will gain resource knowledge from operation of the 5 MW Phase 1 pilot plant before implementation of the 25 MW Phase 2 plant. DEEP's approach is also prudent in that DEEP will gain resource knowledge from operation of the 5 MW Phase 1 pilot plant before implementation of the 25 MW Phase 2 plant.
• The modeling results have shown that the project design takes advantage of changing fluid densities to reduce power consumption for pumping. can sustain injection with zero wellhead pressure because of the greater density of the cooled fluid, while the higher-temperature (lower density) production fluid decreases production pumping power requirements. The project can sustain injection with zero wellhead pressure because of the greater density of the cooled fluid, while the higher-temperature (lower density) production fluid decreases production pumping power requirements.
• Sensitivity modeling runs on DEEP Sand permeabilities resulted in little variation in well productivity, due to beneficial conductive heat transfer from above and below the laterally continuous DEEP Sand. from above and below the laterally continuous DEEP Sand.

Thislevel of due diligence work from SLBis considered a recognized standard for geothermal investments. GeothermEx has evaluated more than 8.5 GW of clean geothermal electricity and more than $14 billion of related investments. GeothermEx has evaluated more than 8.5 GW of clean geothermal electricity and more than $14 billion of related investments.

DEEPis grateful for the advice and guidance received from GeothermEx geothermal consulting services since 2013 - from early exploration DEEPis grateful for advice and guidance received from GeothermEx geothermal consulting services since 2013 - from early exploration planning to well design, well testing, reservoir modelling and now resource confirmation.

"GeothermEx is the gold standard for geothermal resource evaluation. This positive and comprehensive review by the world's most established geothermal resource consulting and services firm is a major milestone as we move into construction of our first facility. this positive and comprehensive review by the world's most established geothermal resource consulting and services firm is a major milestone as we move into construction of our first facility," explains DEEP's CEO Kirsten Marcia, adding, "All the drilling is being done by a team of experts. This positive and comprehensive review by the world's most established geothermal resource consulting and services firm is a major milestone as we move into construction of our first facility," explains DEEP's CEO Kirsten Marcia, adding, "Allthe drilling, testing, reservoir modelling and well design It provides confidence that the geothermal resource will support the Phase 1 and 2 developments for the forecasted 40 years. It provides confidence that the geothermal resource will support the Phase 1 and 2 developments for the forecasted 40 years."

*The INTERSECT simulator is a joint product collaboration of SLB, Chevron, and Total.

Source:DEEPEarth Energy Production