Replies to post #1571 on US Geothermal (HTM)

[terry hallinan]

Incompetent management - you wrote it and I hope we haven't it right now at HTM.

Ram Power is in a class by itself.

Its Nicaraguan operations under Tom Ogryzlo and other experienced hands were a dream that were snatched away by surprise takeover at an annual meeting in Canada. I don't think it would be possible in the U.S. for any company to be snatched away without notice by nomination and election of new directors from the floor. Perhaps the former Polaris had unique bylaws. Whatever.

The Geysers project came about because Western Geothermal drilled a dry hole in its only project in Canada. Without notice the company diverted all attention to an abandoned project at The Geysers that had once produced power but geothermal brines were not reinjected. Rejuvenation of the old project seems to have been accomplished but the penniless mooch that Ram Power had become since taking over Western Geo and Polaris as well as some phantom corporations owned exclusively by the thieves was apparently not a prized prospect for a loan in the opinion of bankers.

The Geysers, still the largest geothermal power producer in the world after decades of vampire management, is coming back. Seems to me that all HTM has to do is build the power plants in the greatest geothermal field in all the world. Even Warren Buffett got into the act a few years ago with a hefty investment in a utility that has substantial geothermal assets in The Geysers field.

All JMO.

Best, Terry