Printer Friendly

OESI ANNOUNCES SALE OF ORMESA 1E EXPANSION PROJECT

 OESI ANNOUNCES SALE OF ORMESA 1E EXPANSION PROJECT
 PORTLAND, Ore., Sept. 4 /PRNewswire/ -- OESI Power Corp. (OESI)


(NASDAQ: OESI) announced today that it completed the sale of its Ormesa 1E Expansion project, valued at $5 million, to the lessor of the Ormesa 1E facility. OESI received $2.5 million in cash at the closing and expects to receive the remainder over the term of the lease. The proceeds from this sale, together with corporate borrowings, were used to repay in full OESI's $4.1 million construction loan from Bank Hapoalim and nearly $700,000 in corporate payables, including satisfaction of all of the outstanding mechanics liens on OESI's Stillwater project.
 OESI acquires, develops, operates and sells interests in geothermal power plants in the western United States, Alaska and Hawaii.
 -0- 9/4/92
 /CONTACT: James Verhey of OESI Power, 503-636-9620/
 (OESI) CO: OESI Power Corporation ST: Oregon IN: OIL SU:


RM -- SF004 -- 6967 09/04/92 13:43 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 4, 1992
Words:159
Previous Article:MONEY SMALL INVESTOR INDEX: INVESTORS FLOCK INTO MUNI FUNDS
Next Article:VINCENT LABELLA NAMED GSBCA ACTING CHAIRMAN
Topics:


Related Articles
OESI POWER CORP. ANNOUNCES SUCCESSFUL WELL AT RYE PATCH, NEV.
OESI POWER: HAWAII REISSUES PGV'S PERMITS; DRILLING RESUMES
OESI RESPONDS TO LAWSUIT
OESI POWER REPORTS TERMINATION OF POWER PURCHASE AGREEMENT AT RYE PATCH PROJECT
OESI ANNOUNCES $50 MILLION CORPORATE RECAPITALIZATION AND PUNA GEOTHERMAL VENTURE SETTLEMENT
OESI POWER CORPORATION REPORTS 1993 RESULTS
OESI POWER CORP. REPORTS FIRST QUARTER RESULTS
OESI ANNOUNCES COMPLETION OF $50 MILLION CORPORATE RECAPITALIZATION AND MANAGEMENT CHANGES
OESI POWER CORP. REPORTS SECOND QUARTER RESULTS
OESI POWER ANNOUNCES 'GOING PRIVATE' TRANSACTION

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters