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Gold/Mining/Energy : Calpine Corp (CPN)

CPN 15.25

0.0%

Mar 9 4:00 PM EST

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To: fuzzymath who wrote (60)	10/29/2000 7:25:07 PM
From: Raymond Duray	Read Replies (1) of 80

Re: The Geysers Hi Kevin, I've been lurking for a while and want to say thanks for your efforts! I'm trying to build a picture in my mind of this company and it's prospects. One thing that I've discovered in my DD is that CPN has acquired the geothermal assets of PG&E up near Geyserville. When I was taking some grad courses in the mid '80's in the City, one of my classmates was a Project Manager for Gas & Light. This was a few years after the project had been developed, and it was a real disappointment, according to the PM. Seems that the geologists had grossly overestimated steam pound potential, and the plant was at some risk of either depletion or generation cutbacks to uneconomic levels. I'm wondering if any here have any knowledge of this resource and the economics of the Geyserville complex at present. Thanks for any replies. <s> Best, Ray

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