There is a new press report out from NGP, which shows better than expected drill results, but that they still have not completed the financing required to build the power plant. WGP is in a similar situatiion, with the last round of financing being used for drilling and other items, while the construction financing is still 'in the works'.

The problem is the financing, or lack thereof. The financing for NGP 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.

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 SGP, NGP and WGP. I hope that my shares in HTM and ORA will not be hit as hard, since they are cash-flow positive.