Thursday, March 8, 2018

USA, Nevada: Multi-Well Flow Test at San Emidio II Geothermal Project Confirms Resource Estimate of 25-47 MW

U.S. Geothermal Inc. Reports Fourth Quarter and Year-End 2017 Results (News Release)

U.S. Geothermal Inc. announced today its financial and operating results for the fourth quarter and full year ended December 31, 2017 and highlighted notable achievements in 2017.  

Development Projects Update:
  • Successfully completed multi-well flow test at the recently drilled Southwest Zone wells at San Emidio II.  Flowing temperature from the three wells ranged from 319°F to 325°F. Test results confirm resource estimate of 25 megawatts (at 90% probability) up to 47 megawatts (at 50% probability).
  • El Ceibillo development project awarded $3.42 million grant from the German Development Facility for Latin America for further production drilling.
  • U.S. Trade and Development Agency (USTDA) awarded a $825,319 grant to U.S. Geothermal Guatemala S.A. to provide funding for a feasibility study on the El Ceibillo development project.
  • Company continues to respond to RFPs/RFOs from potential customers in order to secure power purchase agreements.