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| Polaris Geothermal-Production Drilling Progress
| | 02/08/08 - Polaris Geothermal Inc. is pleased to announce the completion of its well SJ9-2, at its San Jacinto - Tizate Geothermal Project in Nicaragua. This is the second of two new production wells that have been drilled from pad SJ-9. With the completion of this well, the drilling rig will be moved to a different pad (SJ-10) to commence drilling an injection well. Once the rig is clear of the pad, in about 10 days' time, well production testing will commence with SJ9-1 and then with SJ9-2. Preliminary results from SJ9-1 are expected to be available by the end of February and for SJ9-2 by mid-March.
Polaris' current drilling program is aimed at developing production and injection capacity for its 24 MW, Phase I MCT expansion of the San Jacinto project which will raise production capacity to 34 MW.
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