cfo4nova

Time For Another Look At Geothermals?

If you are seeking an interesting early stage play, Western Geopower Inc has a plant in development in the California wine country at The Geysers--Healdsburg that is slated to come on line in April 2010. They have contracts signed for 20 years with Pacific Gas and Electric for $500,000,000... which is at $98/MW. They have couple holes drilled that have the high temp and pressure needed for this project. Engineers are pleased with results.

This is a speculative play since the plant is still being built and they are burning cash. For those with the stomach for it, this is likely to be a ten to twenty bagger. WGPWF on the pink sheets trading at $0.23. Just a thought for those wanting to make a groung floor play in this sector.

I am long WGPWF