Thursday, August 15, 2013

Nicaragua:

Ram Power, Corp. Announces Updates for the San Jacinto-Tizate Project (Andhra News.net - Press Release)

Ram Power, Corp., announces an update on the remediation drilling program at the company's San Jacinto-Tizate Project.

As previously disclosed, the remediation drilling operations of wells SJ 6-1 and SJ 9-3 are being led by Sinclair Knight Merz, the resource consultant for the company, in consultation with PENSA and Thermasource Inc. Drilling on both wells is expected to be completed by late November 2013.

Ram Power completed its remediation program for well SJ 6-1 on August 14, 2013. The drilling operation successfully replaced 367 meters of damaged liner and perforated a 60 meter section of liner which had demonstrated increased temperature and permeability. Well SJ 6-1 is now shut-in and following a 4 to 6 week heat up period, will be tested and be put back online in late September or early October.

The drilling rig has initiated moving from well pad 6 to well pad 9 for the remediation of well SJ 9-3. In preparation for the remediation work, well SJ 9-3 was taken offline on August 14, 2013, which resulted in a temporary loss of power production of approximately 5 MW (net), bringing current production of the project to approximately 46 MW (net).

In addition, the company is currently evaluating remediation plans for two additional wells, SJ 6-2 and SJ 12-3. Further information will be disclosed at a future date upon the company's completion of its evaluation of these wells.

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