U.S. Geothermal Inc. Updates Drilling at El Ceibillo Project-High Temperature
BOISE, IDAHO -- (Marketwired) -- 06/25/13 -- U.S. Geothermal Inc.
(NYSE MKT:HTM)(TSX:GTH), a leading renewable energy company focused
on the development, production, and sale of electricity from
geothermal energy, announced today that its wholly owned subsidiary,
U.S. Geothermal Guatemala, S.A., completed drilling well EC-1 at the
El Ceibillo Project.
Well EC-1 was drilled to a total depth of 4,829 feet (1,472 meters)
and encountered a bottom-hole temperature of 491 degrees F (255
degrees C), with the temperature gradient at the bottom of the hole
rising at a rate of 7.1 degrees F/100 feet (129.1 degrees C/km). High
temperatures in excess of 392 degrees F (greater than 200 degrees C)
were encountered in the well beginning at a depth of 2,625 feet (800
meters), which represents a potential high temperature reservoir
interval in excess of 2,204 feet (672 meters). Permeability was
encountered and a slotted liner capable of supporting production was
placed in the well. A preliminary cleanout flow from the well looked
favorable and warrants formal testing. Flow test equipment is
currently being fabricated for a planned test, which is expected to
be performed within the next 4 to 6 weeks.
Well EC-1 was originally planned for a depth of 3,280 feet (1,000
meters), however due to favorable drilling conditions, geology, and
increasing temperature; the well depth was extended and was completed
within the original budget.
"We are very excited about the preliminary results seen from our
first production depth well at our El Ceibillo project in Guatemala,"
said Doug Glaspey, President and COO of US Geothermal. "Reservoir
temperatures within the El Ceibillo area of our concession are
significantly higher than we anticipated, and as a result of
favorable drilling conditions, our projected drilling costs for
production size wells appear to be at or lower than we have planned."
Please visit our website at: www.usgeothermal.com.
About U.S. Geothermal Inc.:
U.S. Geothermal Inc. is a leading renewable energy development
company that is operating geothermal power projects at Raft River,
Idaho, San Emidio, Nevada, and Neal Hot Springs, Oregon. El Ceibillo
is an advanced stage, high temperature development project located in
Guatemala. The company holds geothermal energy rights to 69,500 acres
comprising six advanced stage geothermal development projects.
The information provided in this news release may contain
forward-looking statements within the definition of the Safe Harbor
provisions of the US Private Securities Litigation Reform Act of
1995. These statements are based on U.S. Geothermal Inc.'s current
expectations and beliefs and are subject to a number of risks and
uncertainties that can cause actual results to differ materially from
those described, including but not limited to, the results from the
exploration, production and injection well drilling at El Ceibillo.
Readers are cautioned to review the risk factors identified by the
company in its filings with Canadian and US securities agencies.
Forward-looking statements are based on management's expectations,
beliefs and opinions on the date the statements are made. U.S.
Geothermal Inc. assumes no obligation to update forward-looking
statements if management's expectations, beliefs, or opinions, or
other factors, should change.
The NYSE MKT and the TSX do not accept responsibility for the
adequacy of this release.
U.S. Geothermal Inc.
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