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SAA.B Solara Exploration Ltd

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Share Name Share Symbol Market Type
Solara Exploration Ltd TSXV:SAA.B TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Solara Exploration Updates Recent and Planned Operational Activities

26/01/2011 1:15pm

Marketwired Canada


Solara Exploration Ltd. ("Solara" or the "Company") (TSX VENTURE:SAA.A) (TSX
VENTURE:SAA.B) announces that it is currently engaged in equipping and tieing-in
the two (2) recently completed Cardium horizontal wells located in sections 9
and 17-45-5 W5M in the Pembina (Buck Lake) area of Alberta. The Company
anticipates that the wells will be on production within the next two to three
weeks. 


Solara is also pleased to announce that after consultation with its partners,
the joint interest parties will proceed with the drilling of two (2) additional
Cardium horizontal wells on joint interest lands directly adjacent to the
Company's existing working interest wells prior to the end of the second quarter
2011. 


The Company also advises that the Alberta Energy and Resources Conservation
Board (ERCB) have approved an amendment to the existing primary depletion plan
for its operated Dewberry oil project in north eastern Alberta. As a result of
the amendment, the minimum well production spacing has been reduced from 160
acres (64 hectares) down to 20 acres (8 hectares) with respect to the Mannville
Oil Sands. The ERCB's approval of the amendment increases the number of
potential drilling locations on the Company's 100% working interest lands from 4
to 32 locations for each producing formation based on management's internal
technical evaluation of its lands. In total, Solara estimates that it has up to
70 potential drilling locations comprising the Sparky, Dina, Cummings and Rex
formations underlying its operated two (2) sections in Dewberry, Alberta. To
date, Solara has successfully drilled 14 oil wells on the property with a 100%
drilling success.


About Solara Exploration

Solara Exploration is a publicly traded junior oil and gas company focused on
the exploration, development and acquisition of oil and natural gas in Western
Canada.


75,620,164 Class A Shares

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