Ducan,

I also own stock in SGP, but feel that they are 5-6 years from actually getting a production facility started unless there is significant government assistance. They hold a significant number of leases, and have been earning a percentage of the pumpernickle field from Nevada geothermal. I think that they would be willing to sell thier leases for a significant profit, but even with that possible revinue stream I feel that there are better plays for the next few years.

If I currently had to list my holdings and how I felt about them GTH would be #1 as a pure geo play, and Ormat (ORA), which is the #1 producer of geothermal power plants would be #2. Nevada Geothermal (NGP) has the best names (people) on board, and I feel it has a significant potential at the blue mountain site, when financing is approved.

I think Western Geo Power (WGP) also has some medium term up-side potential if they get the financing together for the Geysers plant, and I would be invested in Polaris Geothermal (GEO) if I understood their business better.

While Sierra currently has a market cap of only $20M, and US Geothermal is currently around $150M, Sierra will need to dilute substantially to bring any fields into production.

The current credit crunch in the USA will drive all the non-producing names lower for the next few months in my opinion, and the companies with weak balance sheets will need to dilute further. Since US Geothermal has a positive cash balance and positive cash flow they can continue acquisitiions, exploration and development without any more dilution.

My expecatation is that the leases for 2 or 3 development fields will change hands in the next year, with the strong companies picking the best from the secondary players, paying them a nominal fee, and then putting power plants in place to turn them into producers of positive cash flow.

In addition to these commnets, I would suggest that you go to the SGP Hub and see what I wrote there.

http://www.agoracom.com/ir/Sierrageo...