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Earnings news out. Not bad with steady progress.
3 days of heavy buy volume and shorts are toasted.
Short Interest in U.S. Geothermal Inc. (HTM) Expands By 0.8%
February 25th, 2016 - By Thomas Dobrow - 0 comments
U.S. Geothermal logoU.S. Geothermal Inc. (NYSE:HTM) was the target of a large growth in short interest in February. As of February 12th, there was short interest totalling 968,573 shares, a growth of 0.8% from the January 29th total of 960,711 shares, AnalystRatings.NET reports. Based on an average daily trading volume, of 330,844 shares, the short-interest ratio is presently 2.9 days. Approximately 1.0% of the shares of the stock are sold short.
U.S. Geothermal (NYSE:HTM) opened at 0.5576 on Thursday. The firm has a 50-day moving average of $0.58 and a 200-day moving average of $0.60. The stock has a market capitalization of $60.00 million and a price-to-earnings ratio of 5.8695. U.S. Geothermal has a 12-month low of $0.45 and a 12-month high of $0.70.
Separately, Zacks Investment Research upgraded shares of U.S. Geothermal from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a report on Tuesday, November 17th.
U.S. Geothermal Inc is a renewable energy company focused on the development, production and sale of electricity from geothermal energy. The company is operating geothermal power projects at Neal Hot Springs, Oregon, San Emidio, Nevada and Raft River, Idaho for a total power generation of approximately 45 megawatts.
It seems some entity is trying to bring down the stock. If it rallies there could be a short squeeze and would serve them right.
Need to break .61 then .65 This one does not move at all.
This one needs a break of .65 to get out of this funk.
What ever happened to the stock repurchase program. I really would like to see this thing get back over a dollar... or at least trade the .75 cent channel.
dilution is not going to get us there.
Here is where it gets dicey. Dilution. Plain and simple. Now is it going to go toxic? Will the directors fork the money to their own compensation?
I would have prefered this occur when the stock is at least recovered and over a buck a share...
I now will have to pay real attention to the share price. I wonder how they expect to increase share price.
4oo or 5oo Megawatts would equal the output of one Nuke power plant. So they have a bit of a way to go. I would think as the Tech developes the Capacity would come online faster.
The existing Nuke plants are getting old. Not many new ones coming online. I would think there is only so much you can tweak out of the old technology to increase capacity.
Thinking out loud'
I imagine a floating rig with a geothermal plant, two to four pumping stations, a desalinator and element extractor... capable of having tankers to carry the water tie up to it. As the tankers fill they sail right from the mooring to the Saudi's
a cable ship that can make the connection to the grid.
submersible with the water intake and exhaust suction hoses.
The whole rig can be moved as need be. I think we can tap those super heated fault lines under the water. There are drawbacks and obstacles like how to protect sea life with the process.
The tech has a way to go... the sky is the limit or in this case. The Ocean is the limit.
Water... Lots of it pre superheated chock full of elements... Falt lines are long... Tech is young... patents make money...
Geothermal is real. Geothermal is energy.
They are on track to add another 68MW if you read the 8K. I would like to see the day when they have 400MW or more running at once.
That is going to take a while. But they do have income.
Hanging tough during this market... I wish all my stocks were hanging this tough. Oil is dropping like a rock making Alt energy products more expensive to build. But in the long run it does not cost money to fuel the sun nor heat the water in that geothermal well. Wind is made by the weather... and lately, their is no shortage of weather.
even at 20 bucks a barrel... oil still cost money. The by costs are worse... pollution of water and land. Air and water pollution that travels over our heads, under our feet and knows no borders. Making us and the earth sick.
This company just needs more Megawatt capacity. They just have to be able to sell it at a desirable price. It is early in the 21st century... The tech is young... and fault zones are long. New tech will come. R&D needs to be increased. Patents make money...
Geothermal is real and it works. What we should be trying to address is how to make more water. Or work on offshore pipes that carry super heated salt waters through a circular system. There is no shortage of oceans lately, it seems the earths warming, whether cause by fossil fuels or not, is melting the caps. Sea Levels are rising.
Maybe tie the offshore process to a desalinating plant by forking off some of the power generated, and passing the pumped water through a desalinator and element exatractor. Pipe water is rich in elements. If I was going to try to develop this I would maybe try Hawaii for operations.... Then I would ...
Sell the water to the Saudis. That would be a case of Irony of a Shakespearean Nature.
Geothermal is real and it is energy.
let us see this thing head back north.... break that .70 and hold would be nice.
I would be nice to break the .70 to .75 line with all this news.
They bought out the goldman sachs involvement in raft river
Just rumors about a received First-Round Bids for Sale ... no details!
Today LD Micro Main Event ... may be more
big volume coming in to HTM late in the trading day today, anyone know what's up?
2016 should be a good year as projects move to completion.
Never seen a stock like this so mispriced. Seems like it should be trading over 1.00.
Wonder why trading so low & NYSE listed too!
Now we are hitting oversold... nice time to start accumulation. Just mho... 1st buy back today.
Jimmy Morales Wins Guatemalan Presidential Election in Landslide
http://www.wsj.com/articles/guatemalans-begin-voting-in-presidential-election-1445798537
wow the manipulation on this stock is amazing. They are walking it up or holding it steady and will not let it fall below .60 so far...
They are trying their hardest to keep this above .60 in spite of the charts.
you seem to think I am asking for help... oh well. I cannot help if you do not agree with my perception where this one is heading.
btw it did break .60 today... a little more to go... then it will decide which direction is will trend.
you do have the buy back until 2016 to factor in. That does not mean it will only go up.
I did not start or suggest a chart. I just commented on what I see as being overbought. You all are big boys and can conjure up your own charts.
I use to post charts back in the day... I do not do that anymore. Sorry I just made a decision a long time ago to get out of that game.
now. I did post when I sold all my shares. go back a few posts and you can see it.
I did it at the crest of overbought. Now I will reenter when this thing hits the over sold. I am accumulating.
I have been in this stock since before it went AMEX in fact if you explore this board you can see when that happen... I was banging the table and all alone here... stock went to 4 bucks.
but no I do not do charts. There are too many "charters" using a million different indices when only a few are needed. I have my own tweaks that work for me. I see in my tea leaves just fine.
Now I already have my first order in for the last week for my first buy back.
good luck to you all.
and a six month chart is not a long term chart....
You wrote something about a chart and you are not able to show us your source of perception. Furthermore you don't want to talk about charts.
Is there something you would like us to help you or do you have a source to share about HTM or ... ?
Please stop going in circles.
Thank you for your understanding!
What ever you think is fine. I started this board back in the day a long time ago. I do not get involved with challenges on message boards. I do not post any charts anymore.
it really is not worth the time. sorry if you cannot accept that.
Like I said. You use your chart...and I will use the one I have come up with over the years. It works well for me.
I really don't have that kind of time. I would have done that back in the day. But no more. I work.
Like I said I can envision a decline... nothing dramatic but enough for me to keep accumulating.
Enjoy your chart.
than why don't you post "your chart"
by the way amigo... that is not a long term chart.
ok you work off of your chart... I will work off of mine. no problem amigo.
They are going to have to let this one cycle sooner or later. Over bought is over bought.
If they keep it propped up this week I expect another 3 cent decline next week.
Long term chart is showing over bought and a starting selling trend.
Maybe trying to maintain the pps through the cycles. Maybe that is what they are trying to do with the stock buy back plan.
but sooner or later they are going to have to let it cycle.
Who is going to update this thread front page with all these information regarding HTM which need to be updated?
NR: U.S. Geothermal Confirms Reservoir at WPG Geysers Project
BOISE, IDAHO, Sep 21, 2015 (Marketwired via COMTEX) -- U.S. Geothermal Inc. (GTH)(nyse mkt:HTM) (the "Company"), a leading renewable energy company focused on the development, production, and sale of electricity from geothermal energy, is pleased to announce it has received the reservoir engineering report for the WGP Geysers project from third party engineering firm GeothermEx Inc..
As previously announced, the Company successfully completed a flow test program in June on the three largest production wells at the WGP Geysers project in northern California confirming that the wells were still open and ready for production. GeothermEx Inc. (a Schlumberger company) designed the isochronal (step-rate) flow test program, and monitored the testing of the wells.
GeothermEx reports that the four production wells are capable of delivering an initial capacity of 28.1 MW (gross) or 25.4 MW (net) based on current power plant steam conversion rates from a detailed design for a 28.8 MW (net) power plant. These longer term tests show the wells would initially produce a combined total of 458,000 pounds per hour of steam compared to 462,000 pounds per hour of steam from short term tests performed when the wells were first drilled, demonstrating that the capacity of the wells is virtually unchanged. Using the average steam production rate from these wells and an assumed interference factor of 30%, GeothermEx estimates that an additional 2-3 production wells would be needed to support the long term operation of a 28.8 MW (net) plant.
Two methods were used by GeothermEx to estimate the long term capacity of the WGP project, and both support a high probability that a 28.8 MW (net) plant can be operated for 25 years, given the modern plant design and the available productive area. The first is the p/z method, an established natural gas reservoir engineering calculation that is routinely used at The Geysers. Based on the plant design and the increase in available injection that would result from WGP's planned hybrid cooling system, GeothermEx estimates that the reservoir could support the 28.8 MW (net) plant for up to 54 years. The second method, which is an empirical approach based on GeothermEx's extensive experience at The Geysers, is used to estimate the steam production capacity per acre within the productive area of a geothermal leasehold. On this basis, GeothermEx reports that the productive acreage within the WGP leasehold has steam reserves sufficient to supply up to 44 MW (net) with a conventional injection level of 25%, and potentially more at the higher injection levels associated with the planned hybrid cooling system.
"The results of this analysis from our test program clearly shows that the WGP Geysers project has approximately 30 megawatts of steam, drilled, tested and ready for production, and that, with the higher injection rates provided by hybrid cooling, it has the reservoir to support long term generation," said Dennis Gilles, CEO of US Geothermal. "We are pleased with last week's passage of SB-350 in California, which now raises the Renewable Portfolio Standard for the state to 50% renewable energy by 2030, the highest in the country, and we anticipate this will increase the interest in a power purchase agreement for our WGP Geysers project. We are also pleased to announce that the recent forest fires reported in The Geysers area did not impact our geothermal wells, project equipment, or project site."
http://www.marketwatch.com/story/us-geothermal-confirms-reservoir-at-wpg-geysers-project-2015-09-21-81734456
I am sweeping it off the table for now. Will await this next cycle.
$HTM recent news/filings
bullish
## source: finance.yahoo.com
Fri, 28 Aug 2015 15:11:40 GMT ~ US Geothermal, Inc. Earnings Q2, 2015
read full: http://www.capitalcube.com/blog/index.php/us-geothermal-inc-earnings-q2-2015/
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Sat, 22 Aug 2015 17:04:09 GMT ~ US GEOTHERMAL INC Financials
read full: http://finance.yahoo.com/q/is?s=htm
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Tue, 11 Aug 2015 20:52:02 GMT ~ U.S. Geothermal posts 2Q loss
read full: http://sg.finance.yahoo.com/news/u-geothermal-posts-2q-loss-205202960.html
*********************************************************
Tue, 11 Aug 2015 20:52:02 GMT ~ U.S. Geothermal posts 2Q loss
read full: http://finance.yahoo.com/news/u-geothermal-posts-2q-loss-205202208.html
*********************************************************
Tue, 11 Aug 2015 20:25:41 GMT ~ U.S. Geothermal Inc. Reports First Six Months 2015 Results, Updates 2015 Guidance, and Provides Project Update
[Marketwired] - U.S. Geothermal Inc. -
read full: http://finance.yahoo.com/news/u-geothermal-inc-reports-first-202541297.html
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$HTM charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$HTM company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/HTM/company-info
Ticker: $HTM
OTC Market Place: Not Available
CIK code: 0001172136
Company name: U.S. Geothermal Inc.
Company website: http://www.usgeothermal.com
Incorporated In: DE, USA
Business Description: US Geothermal is a renewable energy development company that is in the process of developing a geothermal power plant at Raft River, Idaho. The Company possesses three power purchase agreements with the Idaho Power Company for the production of 30 MW of electricity at Raft River. Construction of the Phase One power plant is planned in 2005 and power production is planned for 2006. On the basis of a report prepared by Company's independent consultant, GeothermEx Inc., of Richmond California, the Company believes that Raft River's energy reservoir is scalable to produce an estimated 90 MW of power from 6.5 square miles (16.8 square kilometers) of land owned or leased by the Company. Adjacent to the existing electrical transmission grid and surrounded by modern infrastructure, Raft River is ideally located to make an important contribution to the power needs of the rapidly growing Pacific Northwest for decades to come.Less >>
$HTM share structure
## source: otcmarkets.com
Market Value: $66,728,202 a/o Sep 15, 2015
Shares Outstanding: 107,591,425 a/o Aug 08, 2015
Float: 13,194,967 a/o May 31, 2005
Authorized Shares: 100,000,000 a/o May 31, 2005
Par Value: 0.001
$HTM extra dd links
Company name: U.S. Geothermal Inc.
Company website: http://www.usgeothermal.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/HTM/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/HTM/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=HTM+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=HTM+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=HTM+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/HTM/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/HTM/news - http://finance.yahoo.com/q/h?s=HTM+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/HTM/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/HTM/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/HTM/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/HTM/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/HTM/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/HTM/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/HTM/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/HTM/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=HTM+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/HTM
DTCC (dtcc.com): http://search2.dtcc.com/?q=U.S.+Geothermal+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=U.S.+Geothermal+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=U.S.+Geothermal+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.usgeothermal.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.usgeothermal.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.usgeothermal.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/HTM/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/HTM
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/HTM/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/HTM/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/HTM/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001172136&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/HTM/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/HTM/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/HTM/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/HTM/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=HTM&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=HTM
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/HTM/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=HTM+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=HTM+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=HTM
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=HTM
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=HTM+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/HTM/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=HTM+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/HTM.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=HTM
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/HTM/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/HTM/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/HTM/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/HTM/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/HTM
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/HTM
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/HTM:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=HTM
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=HTM
$HTM DD Notes ~ http://www.ddnotesmaker.com/HTM
It would be nice to pierce the 65 to 67 range before the over bought cycle.
I'm looking for it to move above .62 shortly...a move to .65 could come in the form of a quick burst
Had some interesting volume yesterday. Still needs to break .65-.67
some people have made 20% on HTM..some I would say 100% and over by buying big when it drops. The market is moving mostly up and down every day, every second because someone is buying and someone is selling. There are a few famous wall st gurus who are always bears even though the market moves higher for several years...someone is always trying to move oil up...someone always trying to move oil down..this goes on constant every day...Hedge funds do the drum beat all the time...yet sometimes they get their hats handed to them..but eventually at some point both side will win one because after several years the bears have to be right even though they missed out on several years of profits..For me I am looking to break .65 and see if we make it past the .67/69 mark...May I refer you back to your post #1774...have a great day
well its been a real money maker for some people lately..long range she looks strong...plus they are going to be opening up some more capacity..she can move up as fast as she dropped this morning..when they open more capacity I don't know how high it will move up...insiders showing they believe in the stock by doing the share buy back..some pretty well known funds own the stock as well..clean energy will just continue stronger and stronger...I think there are some funds that are mandated to offer clean energy to their investors so they step in to emerging clean energy sources
Well somebody dumped a bunch today. look at that volume. Or they got to buy it cheap.
Obama up in Alaska...global warming...great news for clean energy--looking to see if we break past .65..it appears these guys feel good about their business long term..some people got another gift this morning
a bit of a plunge so far
expecting a move higher today..will see if we break .65
from what we know right now I think anything under this price is a gift..it appears htm is not going to stagnate but expand..from what I could understand they are very unhappy with with stock price so I expect them to start some moves to increase the pps such as they did when they begin the share buy back..
showing every indication of a move higher. where to I don't know but you can tell by the action of the stock it wants to move up..i don't know whether we are going to the .67/,69 area or .70's...but I see the trend higher
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Landmark Legislation Could put Geothermal back on track for California
by: Leslie Blodgett, GEA
June 09, 2014
http://www.renewableenergyworld.com/rea/news/article/2014/06/landmark-legislation-could-put-geothermal-back-on-track-for-california
WASHINGTON, D.C. -- The California Assembly is up next to consider a 500-megawatt (MW)-by-2024 geothermal procurement bill. This follows the May 28 passage of S.B. 1139 by the state Senate in a 21-11 vote. Electricity procured under this new geothermal bill would be separate from RPS-counted electricity. Industry, utilities, government agencies, and environmentalists say this bill is an answer that solves many time-sensitive problems at once. Some opponents, as stated in the May 28 Senate floor analysis, asked whether a mandate for geothermal in the case of this bill is fair and cost-effective. But geothermal companies working in California find fairness to be something they have been lacking and see this bill as a potential way to get geothermal valued properly.
BOISE, IDAHO -- (Marketwired) -- 05/21/14 -- U.S. Geothermal Inc. (NYSE MKT:HTM)(TSX:GTH) a leading renewable energy company focused on the development, production, and sale of electricity from geothermal energy, is pleased to announce that Dennis Gilles, CEO, will be a featured presenter at the 3rd Annual Marcum Microcap Conference on Thursday May 29, 2014 in New York City at the Grand Hyatt Hotel. Mr. Gilles will present a corporate overview and business update highlighting the strong 2013 and first quarter 2014 corporate performance, as well as a summary of the exciting growth opportunities the company is pursuing.
The presentation is scheduled to begin at 9:00am EDT and will be webcast live and available for replay for up to 90 days using the following link http://wsw.com/webcast/marcum2/htm or on the home page of our corporate website www.usgeothermal.com.
The Annual Marcum MicroCap Conference is a signature showcase for superior quality, public companies with less than $500 million in market capitalization. For more information on the conference or to register, please visit the conference website at http://www.marcumllp.com/microcap.
Read more: http://www.nasdaq.com/press-release/us-geothermal-inc-to-present-at-the-marcum-microcap-conference-on-may-29th-20140521-00304#ixzz34AzdhGxO Geothermal power production has a positive impact on local economies, and creates significantly more jobs per megawatt than natural gas.
Geothermal power has a smaller land footprint than most other energy sources, particularly when compared with other renewables.
Geothermal power has very low emission levels. Binary plants produce near-zero GHG emissions while flash and dry steam plants represent a significant reduction compared to fossil fuel based generation.
Geothermal power’s established history of consistent output demonstrates a level of reliability unmatched by other renewables and fossil fuel based generation.
For further reference and knowledge: http://geo-energy.org/reports/Values%20of%20Geothermal%20Energy%20Draft%20Final.pdf
U.S. Geothermal's team brings together decades of corporate executive experience and operating management expertise in the many facets of natural resource development and the business of running an ethical company.
Age 65, is a director and the Chairman of the Board of Directors of the Company. He has held that position since December 2003. Mr. Walker is also a Managing Director of Kensington Capital Partners with responsibility for the infrastructure fund business and is a member of Kensington’s investment committee. He is a director of the Kensington Crowsnest Power Plant LP, a heat recovery unit in British Columbia. Mr. Walker has a 40 year history in urban planning, energy security and power plant development in North America and internationally as well as experience on both public and private sector boards. Mr. Walker was a founding director of the Greater Toronto Airports Authority in 1992 and chaired the first Planning and Development Committee of the Board which provided oversight in the construction of C$4.4 billion terminal complex at Toronto Pearson Airport, completed in 2004. He was instrumental in doing energy security studies in 2002 and 2003 which led to the development of an 117MW cogeneration power plant at Toronto Pearson Airport which commenced operations in 2005. John is a Registered Professional Planner in the Province of Ontario and a member of the Canadian Institute of Planners. John has a BSc. from Springfield College and a Masters of Environmental Studies (Urban and Regional Planning) from York University.
Age 55, has served as US Geothermal’s Chief Executive Officer since April 2013. He has also served as a member of US Geothermal’s Board of Directors since September 2011. Prior to joining US Geothermal, Mr. Gilles worked for Calpine Corporation, where he served as Senior Vice President from 2004 thru 2011 with responsibility for all Western Operations , and Vice President of Geothermal from 2000 thru 2004, where he managed the company’s geothermal portfolio of 750 megawatts at the Geysers geothermal field. Mr. Gilles was instrumental in consolidating the majority of the ownership interests at the Geysers in the late 1990’s into a single entity. Mr. Gilles was part of the expansion and growth of Calpine Corporation from 1989, when he started with Calpine after building what became Calpine’s very first megawatt, to what is now the largest independent power producer in the United States. Mr. Gilles is a senior executive with over 30 years’ experience in the management, operations, maintenance, engineering, construction and administration of power and petrochemical plants and their related facilities. Mr. Gilles’ is also experienced in the identification, evaluation and acquisition of existing renewable projects or portfolios, as well as heading development of new green-field opportunities. Mr. Gilles holds a Masters of Business Administration and a Bachelor of Science in Mechanical Engineering.
Age 61, is the co-founder, President and Chief Operating Officer and a director of the Company. He has served as a director of the Company since March 2000, President of the Company since September 2011, and Chief Operating Officer of the Company since December 2003. Mr. Glaspey served from March 2000 until December 2004 as the President and Chief Executive Officer for the TSX Venture Exchange (“TSX-V”) listed U.S. Cobalt Inc. until the acquisition of Geo-Idaho in December 2003. He also served as a director and the Chief Executive Officer of Geo-Idaho from February 2002 until the acquisition of Geo-Idaho in December 2003. During his career in the mining industry, he has held operating positions with ASARCO, Earth Resources Company, Asamera Minerals, Atlanta Gold Corporation and Twin Gold Corporation. Mr. Glaspey has 35 years of operating and management experience. He holds a Bachelor of Science in Mineral Processing Engineering and an Associate of Science in Engineering Science. His experience includes public company financing and administration, production management, planning and directing resource exploration programs, preparing feasibility studies and environmental permitting. He has formed and served as an executive officer of several private resource development companies in the United States, including Drumlummon Gold Mines Corporation and Black Diamond Corporation. He is currently a director of TSX-V listed Thunder Mountain Gold, Inc., which is also quoted on the OTC Bulletin Board. Mr. Glaspey’s qualifications to serve as a director of the Company include his over 35 years of experience in the natural resource industry and his many years of senior management and director experience.
Age 60 serves as the Chief Financial Officer and Corporate Secretary of the Company. He has served as the Company’s controller since July 2003, and became CFO as of January 1, 2005. From July 2003 to December 2004, he also provided consulting services to Triumph Gold Corp. From 1998 to June 2003, Mr. Hawkley served as controller, director and treasurer of LB Industries. Mr. Hawkley has over 35 years’ experience in all areas of accounting, finance and administration. He holds Bachelor of Business Administration degrees in Accounting and Finance. He started his career as an internal auditor with Union Pacific Corporation and has held various accounting management positions in the oil and gas, truck leasing, mining and energy industries.
Age 58, serves as the Treasurer and Executive Vice President, Finance of the Company, a position he has held since September 2011. From January 2009 to May 2009, Mr. Zurkoff served as a financial consultant to the Company. He then served as the Vice President Finance of the Company from June 2009 until September 2011. Mr. Zurkoff served as CFO of Tamarack Resorts from 2004 to 2008. Mr. Zurkoff has over 25 years of experience in engineering, construction, and all phases of project development with an emphasis on project and corporate finance. Mr. Zurkoff holds a Masters of Business Administration, a Masters of Science in Groundwater Hydrology, and a Bachelor of Science in Geology. Mr. Zurkoff has held positions in Tamarack Resort (CFO), Process Technologies (CFO & COO), and Morrison Knudsen Corporation (now URS).
Age 63, serves as a director of the Company, a position he has held since March 2000. He served as Secretary of the Company from March 2000 until December 2003, and served as a director and the Secretary-Treasurer of Geo-Idaho from February 2002 until its acquisition in December 2003. Since 1983, Mr. Larkin has also been the President of the New Dawn Group, an investment and financial consulting firm located in Vancouver, British Columbia, and a director and officer of various TSX-V listed companies. New Dawn is primarily involved in corporate finance, merchant banking and administrative management of public companies. Mr. Larkin held various accounting and banking positions for over a decade before founding New Dawn in 1983, and currently serves on the boards of the following companies which are listed on the TSX-V: Esrey Energy Ltd., Condor Resources Inc., Tyner Resources Ltd. Gstaad Capital Corp., DraftTeam Fantasy Sports Inc. and Westbridge Energy Corp. Mr. Larkin’s qualifications to serve as a director of the Company include his many years of senior leadership and management experience in corporate finance, merchant banking, Corporate Governance and administrative management of public companies.
Age 74, serves as a director of the Company, a position he has held since November 2006. He served as Program Director for the Geothermal Technologies Program at the U.S. Department of Energy (DOE) from February 2003 to October 2006. Prior to working for the DOE, Dr. Mink was the Vice President of Exploration for the Company from June 2002 to February 2003. He has also worked for Morrison-Knudsen Corporation, Idaho Bureau of Mines and Geology and Idaho Water Resources Research Institute. Dr. Mink’s qualifications to serve as a director of the Company include his many years of senior leadership and management experience in the geothermal energy industry. Dr. Mink currently serves on the Geothermal Resources Council Board of Directors and remain actives in geothermal consulting through Mink GeoHydro Inc.
Mr. Kitz, Boise, Idaho, is a registered mechanical engineer who has worked exclusively in the geothermal industry since 1985. He has broad experience and responsibilities that have included PPA negotiation, resource development and optimization, power plant design, construction, and operation, drilling, and transmission. Before joining U.S. Geothermal in 2003, Mr. Kitz spent seven years in the Philippines working as an engineer and in engineering management on Unocal's projects. Mr. Kitz also worked in Indonesia and California on projects at Heber, the Geysers and Salton Sea.
Mr. Cline, Boise, Idaho, is a registered professional Civil Engineer who has been involved in developing energy and water resources projects in the western U.S. since 1982. Since joining U.S. Geothermal in 2005, Mr. Cline has participated in the development, design and construction of all U.S. Geothermal power generating facilities. Prior to joining U.S. Geothermal, Mr. Cline was Manager of Engineering at Ida-West Energy Company, where he was instrumental in developing several hydroelectric and gas-fired generating facilities, and conducting due-diligence for several hydroelectric facility acquisitions. Prior to 1991, Mr. Cline worked for the U.S. Bureau of Reclamation in Arizona where he was involved in engineering, contracting and construction of various water resources projects including major portions of the Central Arizona Project and Coolidge Dam.
Mr. Harriman, Boise, Idaho, has over 13 years of power plant management experience, and has 25 years of operations and maintenance experience in the power generation industry. Mr. Harriman was formerly the plant manager of two, ten megawatt cogeneration facilities for Black Hills Generation in southern Idaho, and worked previously at Calpine Corporation, Stewart and Stevenson, and Sithe Energies. He also spent eight years with Exxon Shipping, and served in the U.S. Coast Guard.
Projects Under Development (ao June 2, 2014) (DEFA14A http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10025604) | ||||||
Estimated | ||||||
Target | Projected | Capital | ||||
Development | Commercial | Required | ||||
Project | Location | Ownership | (Megawatts) | Operation Date | ($million) | Power Purchaser |
El Ceibillo Phase I | Guatemala | 100% | 25 | 4 th Quarter 2015 | $135 | MOU |
San Emidio Phase II | Nevada | 100% | 11 | 4 th Quarter 2015 | $55 | NV Energy |
Additional Properties | ||||||
Project | Location | Ownership | Target Development (Megawatts) | |||
Gerlach | Nevada | 60% | TBD | |||
Granite Creek | Nevada | 100% | TBD | |||
El Ceibillo Phase II | Guatemala | 100% | 25 | |||
San Emidio Phase III | Nevada | 100% | 17.2 | |||
Neal Hot Springs II | Oregon | 100% | 28 | |||
Raft River Unit II | Idaho | 100% | 26 | |||
Raft River Unit III | Idaho | 100% | 32 |
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Resource Details | ||||||||
Property Size | Temperature | |||||||
Property | (square miles) | ( º F) | Depth (Ft) | Technology | ||||
Raft River | 10.8 | 275-302 | 4,500-6,000 | Binary | ||||
San Emidio | 35.8 | 289-316 | 1,500-3,000 | Binary | ||||
Neal Hot Springs | 9.6 | 311-347 | 2,500-3,000 | Binary | ||||
Gerlach | 5.6 | 338-352 | 2,000-3,000 | Binary | ||||
Granite Creek | 3.8 | TBD | TBD | Binary | ||||
El Ceibillo | 38.6 | 410-526 | 1,800-TBD | Steam |
REGIONAL LOCATION MAP
The Company successfully acquired a geothermal concession in the Republic of Guatemala. The concession consists of 24,710 acres (100 square kilometers) and is located 14 miles southwest of Guatemala City, the capital. Nine wells with depths ranging from 560 to 2,000 feet (170 to 610 meters) were drilled in the El Ceibillo resource area within the concession area during the l990s, with a few of those wells having adequate temperature and flow to support a direct use application. Six of the wells have measured reservoir temperatures in the range of 365 to 400°F (185 to 204°C). Fluid sample analysis and the mineralogy associated with drill cuttings suggest the existence of a deeper, higher permeability reservoir with temperature potential of 410 to 526°F (210 to 274°C).
Competitive Conditions
Although the market for different forms of energy is large and dominated by very powerful players, we perceive our industrial competition to be independent power producers and in particular those producers who provide “green” renewable power. Our definition of green power is electricity derived from a source that does not pollute the air, water or earth. Sources of green power, in addition to geothermal, include wind, solar, biomass and run-of-the river hydroelectric. A number of states have instituted renewable portfolio standards (“RPS”) that require utilities to purchase a minimum percentage of their power from renewable sources. For example, RPS statutes in California require 33% renewable and Nevada require 20% renewable. According to the Department of Energy’s Energy Efficiency and Renewable Energy department, utilities in 34 states nationwide are providing their customers with the opportunity to purchase green, renewable power through premium pricing programs. As a result, we believe green power is an important sub-market in the broader electric market, in which many power purchasers are increasing or committing to increase their investments. Accordingly, the conventional energy producers do not provide direct competition.
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In the Pacific Northwest there are currently only two geothermal facilities, both operated by the Company. There are a number of wind farms, as well as biomass and run-of-the river hydroelectric facilities. However, the Company believes that the combination of greater reliability and baseload generation from geothermal, access to infrastructure for deliverability, and a low "full life" cost will allow it to successfully compete for long term power purchase agreements.
Factors that can influence the overall market for our product include some of the following:
For the Year Ended December 31, | ||||||
2013 | 2012 | |||||
USG Oregon LLC located in Eastern Oregon | $ | 15,566,409 | $ | 2,329,030 | ||
USG Nevada LLC located in Northwestern Nevada | 6,792,382 | 2,626,378 | ||||
Raft River Energy I LLC located in Southeastern Idaho | 5,012,143 | 4,803,537 | ||||
Total energy and energy credits sales | $ | 27,370,934 | $ | 9,758,945 |
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