Energy Development Corporation cancels the Chocopata Project...

Energy Development Corporation (EDC) recently announces that pursuant to the terms of the Peruvian Joint Venture Agreement dated 02 February 2012 between Energy Development Corporation and Hot Rock Limited (HRL ) of Australia, and the Chocopata Shareholders Agreement dated 02 May 2012 between EDC Geotermica S.A.C. and Hot Rock Peru SA, EDC and EDC Geotermica S.A.C. have made the decision not to pursue the Chocopata Project based on the results of the initial geoscientific surveys. EDC’s decision does not have a material effect on EDC’s existing operations and financial condition as such project was in its preliminary stage for evaluation only.