HTM:
0.3499
GTH.TO:
0.355
Neal Hot Spring Project
Raft River Project In-Depth
The Neal Hot Springs project currently consists of 9.6 square
miles of geothermal energy and surface rights leased by U.S.
Geothermal Inc. The property is located in eastern Oregon;
approximately 90 miles northwest of Boise. Chevron Minerals
drilled at the site in the late 1970s and made a discovery of a
commercial geothermal resource at a depth of 2,820 feet. A
Chevron drill hole encountered high temperature and massive lost
circulation of drill fluids within the geothermal zone, which
indicates the potential for prolific production.
An independent consulting firm analyzed geothermal fluid from
Neal Hot Springs and the resulting cation geothermometer
indicates a likely reservoir temperature of 311ºF to 320ºF, with
an estimated distal source temperature of 347ºF to 356ºF. A
geophysical program using gravity and magnetic surveys was
completed in February 2007 and will be used to develop drill
targets.
A new 23 MW
net binary cycle power plant is under construction starting in
April 2011. A 25 year term PPA has been executed with Idaho
Power Company to purchase the full output from the power plant
at a levelized price of $117.65 per megawatt-hour.