August 30, 2010, DENVER, CO (Coal Geology) American Power Corp. (OTCBB: TGMP) (“American Power” or “the Company”)today announced that it has retained Weir International Inc. of Downers Grove, Illinois (“Weir”) to prepare an exploration drilling program and to supervise the execution of that program, in order to evaluate the coal reserve potential on the Pace coal property in Judith Basin County, Montana. American Power Corp. is a publicly traded, dynamic energy company based in Denver, Colorado. The Company was established with the focus of acquiring near-term, large-scale coal projects in close proximity to national transportation links. American Power envisions developing its large coal resources to support electricity generation.American Power is also a member of the Montana Mining Association, and holds approximately 29,000 acres in Judith Basin County, Montana. The estimated resources in place, based on exploration work conducted by Mobil Oil Co. (now ExxonMobil Corp.), and in several independent studies, range from 172 million up to 410+ million tons of high volatile bituminous B coal.
Weir is an internationally recognized consulting firm that has provided engineering consulting services to the American and international mining and energy industries for over 75 years. Weir has prepared coal reserve reports for several established mining companies including BHP Billiton, the world’s largest mining company by market cap at $183bn, among many other major coal producers including Arch Coal Inc., publicly traded on the NYSE, and America’s second largest coal producer.
“We are excited to be working with Weir International, a leader in providing expert consulting services to the coal industry. We look forward to initiating the permitting process for our exploration drilling program as soon as possible,” said Al Valencia, CEO of American Power Corp.
In September of 2008, Weir International conducted a preliminary review of 30 stratigraphic test wells drilled in 1979 by Mobil Oil Corp. (now ExxonMobil Corp.) on the Pace Coal Property. A reserve report was not completed at that time but Weir International stated that the in-place coal resources of the drilled area could exceed 200 million tons, and that the undrilled controlled properties could have substantial additional resources.
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