U.S. Energy gets cash from Standard Steam Trust

In Wyoming, U.S. Energy Corp. said it has received a cash distribution of $1.1 million from Standard Steam Trust (SST). SST’s management committee approved a $5 million aggregate distribution on April 1 and USE received a 22.8 % share, or $1.1 million. The distribution resulted from a sale by SST of one of their eight projects to an undisclosed third party for an undisclosed amount. Keith G. Larsen, CEO of U.S. Energy Corp. was quoted as saying, “Less than 18 months after becoming involved with SST, we have been able to begin generating a return on our geothermal investment. SST retains a strong portfolio of assets and we expect them to create additional value in the future.”