b. The Iceland Deep Drilling Project, Deep Vision and Future Plans

The IDDP was founded in 2000 by an Icelandic energy consortium, Hitaveita Sudurnesja Ltd., Landsvirkjun, Orkuveita Reykjavikur and Orkustofnun. The steering committee of IDDP is composed of representatives from these companies and called DeepVision. The principal aim of DeepVision is to enhance the economics of high temperature geothermal resources. IDDP expects to drill and test a series of more than 4-5 km deep boreholes that are expected to produce supercritical fluids from the Krafla, Nesjavellir and Reykjanes fields in Iceland. The expected outcome is whether more efficient utilization of heat will cause increased productivity of single wells at a competitive cost