Raser Technologies (RZ-$1.40) still maintains that the five production wells drilled to date are viable geothermal resources, with demonstrated flow temperatures in “commercially productive” ranges of approximately 240° Fahrenheit to 300° Fahrenheit, and bottom-hole temperatures in excess of 350° Fahrenheit. Never mind questioning previous statements by management supporting the economics of its technology at “lower temperatures.”Given Raser’s checkered history, I wouldn’t pin my hopes on the company solving its geothermal power problems. Management will likely stumble onto other revenue pathways to profitability:
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1 comment:
Nicely put on Raser. New management seems to be a joke but they have kept up with old policy;forward looking statements that don't even come close to the mark, a drilling program that was supposed to change with their new miracle worker Ben Barker (new name same drilling technique), and they still don't pay their vendors. Should have seen them at the GRC in Reno early October. Many vendors coming up and inquiring about when they would be paid. (Raser has paid many vendors off with stock options; how ridiculous.) Funny thing happened; Raser packed up their display early and hit the road before the convention was over. Word in the industry has it that Raser's geothermal program won't even make it to the new year. What an incomprehensible waste of millions. Their Thermo, UT site is a viable site,unfortunately it was run into the ground by a bunch of attorneys. It is a sad event for the geothermal energy sector but Raser deserves this type of humiliation.
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