Polaris Infrastructure Provides Drilling and Corporate Update (News Release)
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| (Courtesy Polaris Infrastructure) |
On October 12, 2015, Polaris Infrastructure's wholly owned subsidiary, Polaris Energy Nicaragua, S.A., successfully commenced drilling the first of three new production wells for the San Jacinto project. They anticipates drilling for the first of these three wells, SJ 6-3, to be complete in early December 2015. There will be an approximately 30 day heating-up period, after which we will have thermal recovery and move to production testing in early January 2016.
Further,
Polaris Infrastructure announces that its 95% owned subsidiary, Cerro Colorado Power, S.A., has entered into discussions with The World Bank Group with respect to financing for purposes of completing an initial drilling program at the Casita-San Cristobal project. These funds are expected to fall under the World Bank's $115 million Nicaragua Geothermal Resource Risk Mitigation program.
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