U.S. ENERGY CORP. ANNOUNCES INVESTMENT IN GEOTHERMAL ENTITY.U.S. Energy Corp. (Nasdaq:USEG), Riverton, Wyo., has invested $3.445 million in Standard Steam Trust LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control ("SST SST: see airplane. "), a private geothermal exploration and development company based in Denver, Colorado. Current capitalization of SST (with other partners) is $13.8 million (25% USE), which now includes approximately 60,000 acres of BLM BLM n abbr (US) (= Bureau of Land Management) → les domaines , state and fee leases in seven prospect areas in three states. Acreage accumulation is ongoing, with 15,216 acres (included in the figure above) acquired at the December 19, 2008 BLM lease sale in Utah. Such acreage accumulation will continue and substantial additional capital is expected to be raised in 2009.
Today there are 66 geothermal-powered electrical generation plants in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , providing 2960 MW of base load (constant) power to utilities, which represents less than 1% of the electrical generation nationwide. Twenty-six states have implemented mandatory renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. portfolio standards, requiring utilities to be generating from 5% to 33% of their power from renewable sources. The deadlines for compliance with these standards take effect from 2009 to 2025 depending on the state.
Geothermal plants are "zero emission Zero emission refers to an engine, motor, or other energy source, that emits no waste products that pollutes the environment or disrupts the climate. Zero emission engines " and thus meet the renewable energy mandates. The plants use existing technology to circulate hot water from wells through binary or flash heat exchangers to produce the power to drive turbines. All the water is injected back into the earth to recharge the resource.
Geothermal power Geothermal power
Thermal or electrical power produced from the thermal energy contained in the Earth (geothermal energy). Use of geothermal energy is based thermodynamically on the temperature difference between a mass of subsurface rock and water and a mass offers a number of advantages over other alternative energy sources, including continuous and reliable output, as geothermal is not weather dependent. It is the only base load renewable power source. Additional advantages include minimal pricing volatility, limited environmental impact, high sustainability and improved security of supply. When viewed over the life of the project, geothermal is among the least expensive options when compared with both fossil fuel fossil fuel: see energy, sources of; fuel.
Any of a class of materials of biologic origin occurring within the Earth's crust that can be used as a source of energy. Fossil fuels include coal, petroleum, and natural gas. and alternative energy. Initial infrastructure costs are substantially lower than some other alternative forms of production, and nominal energy inputs are required once the power plants are in production.
We intend to advance each individual prospect through the exploration and feasibility stages before determining whether to: 1) sell a prospect to a utility, 2) bring an industry partner on a joint venture basis, or 3) pursue further financing with institutional capital to further advance revenue generating capabilities, which may include the operation of power plants. The first phase of the project (through 2009) will be assembling a portfolio of industrial scale prospects with a total targeted power resource of approximately 2,000 MW; individual prospects are targeted at 100 to 500 MW. The second phase is expected to be completed in 2010, consisting of early science of geology, geophysics and temperature gradient temperature gradient
The rate of change of temperature with displacement in a given direction from a given reference point.
temperature gradient drilling. The third phase of work is scheduled for 2011 and will consist of production well drilling on one of the prospects to quantify the geothermal resource present there. Permitting and construction would follow beginning as early as the end of 2011.
"Meeting the growing renewable portfolio standards at both the state and federal levels is driving considerable interest in the geothermal space, and we expect interest to grow substantially in the next few years. We will be working closely with our partners to assemble a strong portfolio of assets and a clear strategic plan to create value in both the near and mid- term," stated Keith Larsen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of U.S. Energy Corp.
"After spending considerable time reviewing the renewable energy sector, we firmly believe that our entry into geothermal provides our company with a strong position in a market that has tremendous growth potential," said Mark Larsen, president of U.S. Energy Corp. "Geothermal is a renewable subsurface fuel, and our partners are applying their extensive experience in modern oil and gas plays to geothermal exploration. This sector shows significant promise at a time when carbon management is playing an increasing role in the generation of clean energy in our nation," he added.
About U.S. Energy Corp.
U.S. Energy Corp. is a diversified natural resource company with interests in molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. , oil and gas, and real estate. The company is headquartered in Riverton, Wyoming and its common stock is listed on The NASDAQ Capital Market Originally called the NASDAQ Small Cap Market, NASDAQ announced a name change to the NASDAQ Capital Market on September 27, 2005. 
The NASDAQ Capital Market exists for securities of smaller, less-capitalized companies (small caps) that do not qualify for under the symbol "USEG".
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