The expansion is underway and the first four wells (two production and two reinjection) have been completed. Plant construction is expected to be completed by the end of 2009.
The total investment by Polaris Energy Nicaragua (Pensa) for this expansion is currently estimated at $96 million. It is anticipated that this amount will be funded by a $77 million syndicated loan to be provided by a consortium of banks led by The Central American Bank for Economic Integration (CABEI), with the balance of funds being provided by shareholder capital.
