MUNSON <MGEO> GETS PROJECT FINANCING
Munson Geothermal Inc said it
received the necessary financing to complete construction work
at its Brady Hot Springs facility and begin commercial delivery
of geothermally produced electricity to Sierra Pacific Resouces
Corp <SRP> by July this year.
    Munson has a 30-year contract which calls for it to supply
Sierra Pacific with about 23.5 megawatts of electricity per
year, a spokesman said.
    Munson, a wholesale electric utility, said the financing
consists of a 1.25 mln dlr credit agreement with a division of
Foster Oilfield Co of Houston.
    Trading in Munson's stock was halted earlier, news pending.
It last traded at a bid of 2-3/8 and an offer of 2-1/2.
    In addition, Munson said that since closing its 1.2 mln dlr
limited partnership at Brady in December 1986, the company has
raised about 500,000 dlrs through private placements with
qualified investors.
    The funds will be used to help finance commercial startup
of the Brady facility, Munson also said.
 Reuter
