Polaris Infrastructure Announces Conclusion of Drilling Production Well SJ6-3

Polaris Infrastructure Inc. (TSX: PIF ) ("Polaris Infrastructure" or the "Company"), a Toronto-based company engaged in the operation, acquisition and development of renewable energy projects in Latin America, is pleased to provide the following updated with respect to the San Jacinto drilling campaign.

The Company's wholly owned subsidiary, Polaris Energy Nicaragua, S.A., recently completed drilling well SJ6-3, the first of three new production wells for the San Jacinto project. Preliminary measurements of temperature and drilling fluid losses suggest a moderately productive well, though at this early stage we are unable to measure steam flows. The new well will require a 30 to 60 day heating-up period during which valuable temperature data will be collected, after which we will have thermal recovery and move to production testing. With additional measurements available to us, we will have a more granular view with respect to production capability and anticipated megawatt contribution. We will also be in position at that time to provide an update with respect to the process of connecting SJ6-3 with the San Jacinto power plant.

Immediately upon competition of production well SJ6-3, alongside our rig services provider, Iceland Drilling Company, we have mobilized the rig and anticipate commencement of drilling new production well SJ14-1 in early January 2016. We anticipate drilling of SJ14-1 to conclude in March 2016, at which point we will proceed with mechanically working over 4 existing injection wells so as to increase the San Jacinto project's injection capacity. We will also make a decision with respect to timing and location of a third new production well, once additional data has been collected from SJ6-3 and SJ14-1.

Source: Polaris Infrastructure Inc.
Date: Dec 30, 2015