Jack Yetiv

Geothermal Companies Receive Cost Sharing Grants

In discussing these above companies, I think a major point needs to be made regarding NGLPF. Although it's great that NGLPF received about $3.5 million on Fri, a much more significant development occurred on Oct. 9--NGLPF made a $58 million application for a payment of the 30% investment tax credit. According to the press release (and to the Treasury's rules), the npayment should be forthcoming in early December since the Blue Mountain geothermal plant against which this credit has been sought has hit thye necessary benchmarks to receive this payment.

I am absolutely flabbergasted the after receiving both the $3.5 million grant and expecting the $58 million credit payment in about 30 days, is not trading at closer to $1.50 than under a dollar.

Jack Yetiv

Disclosure: Long over 100K shares of NGLPF with a cost basis of about 90 cents and RZ.