here is a new press report out from NGP, which shows better than expected drill results, but that they still have not completed the financing.

Now, The drill results are GREAT! They have hit another 5 to 7 MW hole, which was only supposed to be an injector well. From my very rough calculations they need one or two more wells to have all the power required for phase 1, and need to drill five or six more injectors to drive the fluids.

The problem is the financing, or lack thereof. The financing has been 'in progress' or 'soon' since May or June, and it is now September. This speaks volumes about the problems with the banks and other lending institutions, as this project will be a moneymaker.

I feel that for the next year or so financing will continue to be an issue with any organization that cannot self-finance, or that does not have substantial unencumbered assets to use as collateral. This will result in a reduction of the share value of the exploration and development stocks.

Unfortunately, I currently own a substantial amount of NGP, as well as SGP and WGP. I hope that my shares in HTM and ORA will not be hit as hard, since they are cash-flow positive.

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