Dec 28, 2000

Trading Rights to Water from Western Streams and Aquifers Moves to Internet

LITTLETON and EDWARDS, Colo.-- ResourceNet, LLC has
launched the first business-to-business e-marketplace for trading water, water
rights and water-related properties throughout the western United States. This
marketplace has been named www.WaterRightsMarket.com.
Many people are not aware that the rights to use water
from America's western streams and aquifers often are real property rights that
are bought, sold and leased between farmers, cities, developers and others.
Before supplying water to homes, a city must own or lease water rights; before
irrigating crops, a farmer must own or lease water rights.
"Until now, trading water usually required knowing
who to call, who might be willing to buy or sell their water. Finding available
water as well as deciding what that water was worth often was difficult and
inefficient. ResourceNet's website changes that by creating a central location
for potential buyers and sellers to find one another, and by creating an avenue
for price discovery and assessing market conditions that did not previously
exist," stated David Despeaux, ResourceNet manager.
ResourceNet cofounders Gregg Campbell and David Despeaux
had the goal of creating greater efficiency in the highly fragmented water
market. That goal was reached on February 1, of this year, when
WaterRightsMarket.com first appeared on the Internet. Though operations have
just begun, approximately 10 million dollars worth of water rights already are
listed for sale!
"In addition to bringing economic benefits to the
water and agricultural industries, the major improvement in efficiency that
WaterRightsMarket.com creates for the western water markets also benefits the
environment. When you increase the economic value of an asset, whether it is
water or anything else, people will treat it more carefully. When you increase
the liquidity of an asset, those who don't need it as much can more easily sell
to those who do," Despeaux said.
SOURCE ResourceNet, LLC

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