IDAHO FALLS, Idaho, April 6, 2005 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, announces that the average daily price of gas was up 27% for March 2005 compared to one year ago when it began construction of its Whitesides Biogas plant, and with the closing price on April 1st at $7.74 per thousand cubic feet (mcf), ITR is seeing a substantial increase in its planned revenue projections for its Methane-to-Market business.
Dr. Dennis Keiser, ITR's president noted, "The price of natural gas is the index that will drive the selling price of ITR's biogas. Our biogas, which once cleaned up, is chemically identical to the major constituent of natural gas, namely methane. The heating value of both gasses is also nearly identical at about 1,000 BTUs per cubic foot. Intrepid is updating its business plan to reflect both the higher gas production rates achieved at its Whitesides Biogas plant, and the higher sales price of the gas product."
"We have experienced a noteworthy increase in the production of methane at the Whitesides plant, coupled with the rather dramatic increases in spot and contract price of natural gas, this reinforces the credibility of our business plan."
"The WestPoint dairy, ITR's next project, represents a production rate six times greater than Whitesides'. At the current price of natural gas, that plant will represent a tremendous opportunity for our shareholders and customers," Dr. Keiser concluded.
About Intrepid Technology:
We are a national leader in Methane-to-Market technology and production and an application innovator of Biogas products and services designed to assist in worldwide energy independence and reduce pollution from renewable agriculture feedstock and industrial and agriculture waste materials.
Statements released by Intrepid Technologies and Resources that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental, and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.