RENO, NV--(Marketwired - Jan 22, 2014) - Ram Power, Corp. (
The remediation drilling program to increase the steam resource of the Project called for the refurbishment of four existing production wells as well as the replacement and perforation of specified well casings along with the deepening and forking of two wells. The plan is expected to increase steam availability of approximately 9 to 14 MW gross or 70-110 tonnes / hour of additional net capacity bringing total generation to approximately 59 to 63 MW (net). The remediation drilling operations were led by Sinclair Knight Merz, the resource consultant for the Company, and PENSA engineering personnel (the "Remediation Team").
Update to Well SJ 9-3
As previously disclosed, during the heat-up period and discharge test of well SJ 9-3 in December of 2013, the Company conducted a sinker bar survey run and discovered an obstruction at approximately 1,100 meters in the main leg of the well. Following the conclusion of the remediation efforts in SJ 12-3, the Company mobilized the ThermaSource drilling rig back to well SJ 9-3 to clear the obstruction. The Company successfully drilled out the obstruction, and following the clearing, the Company conducted a sinker bar measurement which reached the final depth of 1,980 meters.
Well SJ 9-3 is now in thermal recovery and the Company remains encouraged with the initial results including, but not limited to, the drilling loss circulation during remediation, down hole temperature and the results of the injectivity test.
Update to Well SJ 12-3
As previously disclosed, following the conclusion of the remediation efforts in well SJ 12-3 in mid-December 2013, the Company was unable to retrieve the whipstock used to directionally drill the forked leg. Following several down hole camera runs, the Company as a result of the information obtained from the video images was able to successfully retrieve the whipstock out of well SJ 12-3.
Well SJ 12-3 is now in thermal recovery, results to date are encouraging and further details will be disclosed as available.
Remediation Testing Date
The Company and the Lenders are in negotiations to amend the remediation completion date in the Common Terms Agreement, with such revised date expected in late-January 2014. Following the completion of the resource remediation drilling program, the Company will conduct a plant capacity test expected to be concluded in March 2014. The test includes a 30-day stabilization period of the resource field followed by a 7-day performance test to determine the net operating output of the plant.
Antony Mitchell, Executive Chairman of Ram Power, said, "With the completion of the remediation drilling program, the Company has successfully deepened and forked over 3,130 meters of new wellbore during the program. This is an important milestone in the continued efforts by the Company to increase production capacity of the San Jacinto Project. I would like to thank the Remediation Team, led by SKM and our PENSA engineers for all their efforts during this period."
About Ram Power, Corp.
Ram Power is a renewable energy company engaged in the business of operating and developing geothermal properties and has interests in geothermal projects in Nicaragua and the United States.
This press release contains "forward-looking information" within the meaning of applicable securities laws including information regarding the business of Ram Power. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by this information. The statements in this press release are made as of the date of this release. Ram Power undertakes no obligation to update forward-looking information, other than as required by law, or comment on analyses, expectations or statements made by third parties in respect of Ram Power, or its financial or operating results or its securities.
Director of Investor Relations
Ram Power, Corp.