CHILEAN GEOTHERMAL PROSPECTS

GGE Chile SpA was formed in August 2008 as a subsidiary of GeoGlobal Energy LLC and serves as GGE’s platform in Chile. In January 2009, GGE Chile acquired a concession at Tolhuaca volcano, and in early 2009 drilled a successful exploration well, demonstrating at least 75 MW of resource potential. This represents the first high quality geothermal resource discovery in Chile since the discovery of El Tatio in the late 1960s.

Through a competitive bidding process, GGE Chile has acquired a 15,000 acre concession at Puchuldiza, which we believe to be at least of similar size and quality to the Tolhuaca resource. Exploration is currently underway to prove the Puchuldiza resource.

In addition to the two high quality geothermal concessions at Tolhuaca and Puchuldiza, GGE Chile has also applied for several other prospective geothermal areas in a partnership with Colbún, S.A., a large, successful and established leader in the Chilean power sector. GGE Chile anticipates acquiring additional concession areas in early 2010.

This sequence—developing one premium project followed in short order by one or more similar projects in the same market is a prime example of GGE’s approach to global development.

GGE’s goal for its Chilean platform is to develop up to 500 MW of geothermal power production over the next 5 years. GGE takes a threefold approach in reaching this goal: continue exploration and development on previously awarded geothermal concessions, participate in the government sponsored concession acquisition process, and find new untapped geothermal resources.