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TWO OESI POWER PLANTS PASS UTILITY CAPACITY TESTS

 PORTLAND, Ore., July 12 /PRNewswire/ -- OESI Power Corp. (NASDAQ: OESI) announced today that two of its geothermal power plants, the 24 MW Puna Geothermal Plant in Hilo, Hawaii, and the 32 MW Second Imperial Geothermal Plant in El Centro, Calif., successfully passed their firm capacity tests and are now selling power at projected levels to the purchasing utilities under long-term contract.
 The Puna Geothermal Plant, in which the company has a 51-percent interest, passed the 100-hour test required by the Hawaii Electric Co. (HELCO) in late June. This represents the culmination of two years of work by the company and its partner to recover from the impacts of the uncontrollable flow that occurred during the drilling of its KS-8 well in June 1991. Although the company will not recognize any material income or cash flow from the plant for a number of years, future expansions or new plants utilizing the available geothermal resource are in the planning stages.
 The Second Imperial Geothermal Plant, in which the company has a 75-percent interest, passed the 72-hour test required by Southern California Edison in early July. Once start-up testing is complete, and the 30-day acceptance test for the lender, which will begin in July, is passed, the plant will be sold to General Electric Capital Corp. and leased back by the company and its partner, Second Imperial Continental Inc. under a long-term lease.
 "The passing of the utility capacity tests by the Puna and Second Imperial Plants represent major steps in the company's efforts to return to profitability," stated James W. Porter Jr., chief executive officer and president of OESI. James F. Verhey, OESI's chief financial officer, also noted that the company's cash flow will improve as a result of the two plants now being in commercial operation.
 OESI Power Corp. acquires, develops, operates and sells interests in geothermal power projects in the western continental United States, Alaska and Hawaii.
 -0- 7/12/93
 /CONTACT: James Verhey, chief financial officer of OESI Power, 503-697-1716/
 (OESI)


CO: OESI Power Corp. ST: Oregon IN: UTI SU:

TM-LH -- SF007 -- 0224 07/12/93 08:01 EDT
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Publication:PR Newswire
Date:Jul 12, 1993
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