Ram Power, Corp. has announced its operating results for the fiscal year ended December 31, 2013.
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| San Jacinto-Tizate Project (Courtesy Ram Power) |
- The San Jacinto-Tizate Power Plant generated 423,998 (net) MWh resulting in revenue of $46.2 million for the year ended December 31, 2012 (an increase of 65% over 2012) and EBITDA (as defined below) of $30.5 million in 2013 compared to revenue of $28.1 million and EBITDA of $9.7 million in 2012;
- Well SJ 12-3 was placed in commercial operation following an extensive thermal recovery period in late February, 2014. Well head temperature and pressures continue to oscillate since being placed into production, but will stabilize over time and the well is currently producing between 7-10 MW.
- Well SJ 9-3 continues to be in thermal recovery. Ram Power has made four attempts to tie in the well into the plant after nine weeks of thermal recovery. SJ 9-3, when achieving well head pressure necessary for the operating pressure of the plant, has demonstrated a production output between 7-10 MW. The well continues to show improved thermal recovery of temperature and pressure, but will continue to be shut in for periods of time over coming weeks to allow for complete stabilization.
