MIEH Signs Lease Agreement With the City of Soda Springs, Idaho, Expanding Their Proposed Rabbit Hill Wind Energy Project
April 03 2007 - 9:00AM
PR Newswire (US)
SALT LAKE CITY, April 3 /PRNewswire-FirstCall/ -- Terra Systems,
Inc. (OTC:TSYI) (BULLETIN BOARD: TSYI) -- Mountain Island Energy
Holdings, LLC ("MIEH") of Soda Springs, Idaho, a joint venture
between Mountain Island Energy, LLC (a wholly owned subsidiary of
Terra Systems, Inc. ("TSYI")); and United Fund Advisors, LLC
("UFA") of Portland, Oregon have executed a lease option agreement
with the City of Soda Springs, Idaho ("City") in which the City
grants MIEH an exclusive option to all or portions of their
property adjacent to MIEH on Rabbit Hill for potential wind
development. MIEH is evaluating the potential of a wind power
project on Rabbit Hill, north of Soda Springs, Idaho. MIEH
purchased 423 acres as the potential location of various energy
projects. The MIEH site controls the western flank of Rabbit Hill
which appears favorable for wind power generation. It is estimated
that up to 120 MW of wind energy potential exists in Caribou
County, Idaho. Wind data collected since mid November, 2006 from a
30 meter meteorological tower near the crest of Rabbit Hill showed
average wind speeds of Wind Class 3 or better indicating a feasible
wind resource. The encouraging data prompted MIEH to expand its
presence on Rabbit Hill with the City lease option agreement.
Mitchell Hart, Managing Director of MIEH commented, "We are pleased
to establish this new relationship with the City of Soda Springs.
We are also encouraged by the initial wind data. We are hopeful the
wind resource will prove even more positive over time, and allow us
to more fully capture the extent of wind resources in southeast
Idaho. A wind power project would be welcomed by MIEH and the
community of Soda Springs. We desire to grow our company and
contribute to the economic development of the Soda Springs area."
Note: Certain statements contained herein may be forward-looking
statements within the meaning of federal securities laws and Terra
Systems, Inc. intends that such forward-looking statements be
subject to the safe-harbor created thereby. Forward-looking
statements include Terra Systems, Inc. expectations as to the
managing and marketing of its businesses within the meaning of the
Private Securities Litigation Reform Act of 1995 regarding future
events and our future results that are based on current
expectations, estimates, forecasts, and projections about the
industries in which we operate and the beliefs and assumptions of
our management. Actual results may vary materially from such
expectations. Words such as "expects," "anticipates," "targets,"
"goals," "projects," believes," "seeks," "estimates," variations of
such words, and similar expressions are intended to identify such
forward-looking statements. Any statements that refer to
projections of our future financial performance, our anticipated
growth and trends in our businesses, and other characterizations of
future events or circumstances, are forward-looking. Although Terra
Systems, Inc. believes that its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that our results
of operations will not be adversely affected by such factors.
Unless legally required, we undertake no obligation to revise or
update any forward-looking statements for any reason. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this statement.
Contact: Mitch Hart VP of Terra Systems, Inc. and Managing Director
of Mountain Island Energy Holdings, LLC, 1-208-547-1800 DATASOURCE:
Terra Systems, Inc. CONTACT: Mitch Hart, VP of Terra Systems, Inc.
and Managing Director of Mountain Island Energy Holdings, LLC,
+1-208-547-1800 Web site: http://www.tsyi.com/
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