Outer Banks Ocean Energy Corporation Formed

Donald Evans, chairman and CEO of Outer Banks Ocean Energy Corporation (OBOE) (www.oboec.com), a renewable energy developer that intends to develop an offshore wind farm in federal waters off the coast of North Carolina, has announced the company’s formal chartering. OBOE was formed in early 2008 to generate electrical power from the unique confluence of wind, wave and current resources found approximately 25 miles off the coast of North Carolina.

The company is in the early stages of developing the North Carolina Hybrid Energy Preserve, which aims to deploy wind turbines positioned within four federal lease blocks covering 23,724 acres. The turbines will be supplemented in the out years by the Gulf Stream current and wave power. OBOE’s executive team has engaged experts in marine sciences and electrical engineering at universities in the region to develop and compile data which revealed that an area off the coast of Cape Lookout, N.C. offers an ideal combination of ocean wind, wave and current power.

While the U.S. onshore wind industry has grown rapidly during the past several years, with 8.5 gigawatts of new capacity installed in 2008, the nation’s offshore wind energy industry is in its infancy. Although there currently are no offshore wind projects operating off U.S. coasts, several projects are underway.

Related Links:
www.oboec.com
www.mmimarketing.com

Quote:
"Outer Banks Ocean Energy is excited to open a new chapter of North Carolina’s energy production," said Evans. "The call for renewable energy is growing, and offshore wind provides an inexhaustible, clean solution that can greatly benefit North Carolinians."

About Outer Banks Ocean Energy Corporation (OBOE):
Outer Banks Ocean Energy Corporation (OBOE) is working to generate electrical power from the unique confluence of wind, wave and current resources off the coast of North Carolina. The company is developing what it calls the North Carolina Hybrid Energy Preserve to produce electricity from the combination of these sources. OBOE has become a leading proponent of development of ocean current power, ocean wind power and ocean wave power combined into a Hybrid Offshore Energy Preserve. For more information, visit www.oboec.com.

Patty Briguglio
MMI Associates, Inc.
(919) 233-6600
patty@mmimarketing.com

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