SEATTLE, Jan. 18, 2005 (PRIMEZONE) -- Wysak Petroleum (Pink Sheets:WYSK): Previously announced 46Mw Polish Wind Farm development with Projekt GmbH has been increased in size to 70 Mw.
A 500 hectare extension of the land lease agreement has allowed for project expansion to take place. This will increase nearly 190 GWhrs/year. A project of this scale is estimated to provide power to nearly 25,000 local homes.
This expansion allows Wysak the opportunity to maximize on its investment returns. Wysak's goal is to develop large scale energy projects in Eastern Europe. A project such as this helps move Wysak forward in its vision of Polish renewable energy development. This is another example of how the Company's management can substantially increase shareholder value.
About Projekt GmbH
Development partner Projekt GmbH is a leading European Wind Energy Company which currently oversees the operation of 14 established wind farms and is developing an additional 17 wind projects in Germany, Denmark, Poland, and Turkey
Polish Energy Sector
Polish energy laws and European Union accession rules have reshaped the Polish energy sector. These new laws have forced open the Polish electric grid system and created a unique opportunity for alternative energy sources. These factors along with excellent wind measurements create a tremendous environment for Wind Energy in Poland.
About Wysak Petroleum
Wysak is a diversified energy company whose goal is to identify and develop traditional fossil fuel sites, as well as clean air alternative energy producing technologies. Wysak trades in the U.S. under the symbol "WYSK".
This material includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts, projections or other statements, other than statements of historical fact, are forward-looking statements. Although the companies believe that the expectations reflected in such forward-looking statements are reasonable, they can give no assurance that such expectations will prove to have been correct. Certain risks and uncertainties inherent in their businesses are set forth in the filings with the Securities Commissions.