|By Marketwired .||
|August 20, 2013 05:00 PM EDT||
RENO, NV -- (Marketwired) -- 08/20/13 -- Ram Power, Corp. (TSX: RPG) ("Ram Power" or the "Company"), a renewable energy company focused on the development, production and sale of electricity from geothermal energy, is pleased to announce an update on the remediation drilling program at the Company's San Jacinto-Tizate Project (the "Project").
The Company, in consultation with Sinclair Knight Merz ("SKM"), conducted an evaluation of well SJ 6-2. The evaluation determined that the upper production zones of the well may have been affected by mineral deposition which has resulted in lower permeability and a decline in production since December 2011. As a result of these findings, a remediation plan was developed which calls for additional perforation of the upper production zone liner to increase the permeability of this section of the well.
In preparation for the remediation work, well SJ 6-2 will be removed from production on August 20, 2013, which will result in a temporary loss of power production of approximately 8 MW (net), bringing current production of the Project to approximately 38 MW (net). The remediation activities are expected to take approximately 8-10 days, and following a heat up period, it is anticipated the well will be tested and placed back in service in early September 2013.
About Ram Power, Corp.
Ram Power is a renewable energy company engaged in the business of acquiring, exploring, developing, and operating geothermal properties, and has interests in geothermal projects in the United States, Canada, and Latin America.
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.