Thursday, August 11, 2016

Nicaragua: New Well at San Jacinto Geothermal Project to be Connected in Late October

Polaris Infrastructure Announces 2016 Second Quarter Results (News Release)

San Jacinto project (Courtesy Polaris Energy)
Toronto-based Polaris Infrastructure Inc.,  has reported its financial and operating results for the quarter ended June 30, 2016. Included is an update on operations at the San Jacinto project.

Drilling of the third and final new production well at the San Jacinto project, SJ 9-4, was completed on July 21, 2016, approximately one week ahead of schedule. As contemplated in the original drilling plan, a total loss of drilling fluids was experienced, indicating a zone of high permeability and the well was completed at a depth of 1,525 meters measured depth.

While it is too early to estimate incremental MW contribution, the well has reached over 260°C and was able to successfully flow on its own in a discharge test performed last week, creating optimism with respect to the extent of incremental power generation. We expect to have SJ 9-4 connected to the San Jacinto power plant in late October 2016.

Full News Release.........