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U.S. Geothermal Inc. Message Board

  • k.mcmacken k.mcmacken Mar 26, 2013 8:32 PM Flag

    Enbridge Ownership % on NHS

    So I just re-read the past financial statements. The original Enbridge ownership was 27% then USGeothermal needed a contingency fund to fund the project and gave Enbridge 'up to approximately 44% ownership in total'. In one of the most recent news releases, USGeothermal still didn't know the exact amount of Enbridge ownership. I have the answer! In the past financial statements, they state that 'only $2 million of the $6 million contingency fund' was used. Therefore; 44%-27% = 17% and 17% / $6 million = 2.83% ownership per million they ended up using. Since they only used $2 million; approximate Enbridge ownership of NHS should end up around 32.67%. This may be fantastic news if investors believe the Enbridge ownership could amounting closer to the 44% maximum; a possible positive surprise!

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