OESI POWER CORP. ANNOUNCES SUCCESSFUL WELL AT RYE PATCH, NEV.
OESI POWER CORP. ANNOUNCES SUCCESSFUL WELL AT RYE PATCH, NEV. SPARKS, Nev., Jan. 9 /PRNewswire/ -- OESI Power Corp. (NASDAQ: OESI) announced today the completion of a geothermal production well located at the company's Rye Patch, Nev., geothermal resource located near Lovelock, Nev. The successful completion of this well indicates a proven, viable resource which will provide energy to operate the Rye Patch "A" Geothermal Project (formerly the Carson Basin "A" Geothermal Project). The Rye Patch "A" Plant, the 11th facility to be constructed by the company is expected to produce 13 MW of electricity for sale utilizing geothermal resources. The plant will sell its generated electricity to Sierra Pacific Power Co. under the terms of a 30-year power purchase agreement previously executed by the two companies. Construction of the geothermal project is expected to commence in the spring of 1992. The company anticipates that the geothermal power plant will be on-line in early 1993. The drilling of Well No. 44-28 commenced on Oct. 8, 1991, and was completed on Nov. 10, 1991, at a total depth of approximately 3,500 feet. Downhole temperatures have been measured at about 400 degrees Fahrenheit with a stabilized flow rate of 500,000 pounds per hour. On Jan. 7, 1992, the company completed a 21-day flow test which confirmed stabilized downhole pressures. The company plans to drill an additional production well to confirm the extent of the reservoir. Communication testing with the existing Campbell E-1 production well has demonstrated that the production zone extends at least 3,000 feet along the Range Front fault zone. The project will require four production wells (including one standby), and three injection wells (including one standby) to process over 1.5 million pounds of geothermal fluid per hour. OESI Power Corp. acquires, develops, operates and sells interests in geothermal power projects in the Western United States, Alaska and Hawaii. -0- 1/9/92 /CONTACT: Linda Stewart of OESI Power Corp., 702-355-5666/ (OESI) CO: OESI Power Corp. ST: Nevada IN: UTI SU:
EH-CH -- LA005 -- 8054 01/09/92 08:02 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 9, 1992|
|Previous Article:||PIC 'N' SAVE COMPARABLE STORE SALES UP 4.5 PERCENT FOR THE HOLIDAY SELLING SEASON|
|Next Article:||CLAIRE'S STORES, INC. REPORTS DECEMBER SALES|