Solara Exploration Ltd.

Solara Exploration Ltd.

September 20, 2011 09:30 ET

Solara Announces Drilling and Completion Update

CALGARY, ALBERTA--(Marketwire - Sept. 20, 2011) -

Solara Exploration Ltd. (TSX VENTURE:SAA.A) ("Solara" or the "Company") announces that it has successfully completed and stimulated (fraced) the horizontal well located at 16-9-45-5W5M to evaluate the oil potential of the Cardium formation at its Buck Lake (Pembina) project. The Company is currently testing and flowing the well to establish an estimated rate of production for both oil and natural gas. Solara will report the results of these operations within the next several days. As previously announced, Solara has three more horizontal wells which it plans to drill on its Buck Lake (Pembina) lands prior to year end. To date, the Company has drilled and participated in five Cardium horizontal oil and gas wells on the project lands.

Solara also advises that it has completed the drilling of the Leduc D3 Reef well located at 14-7-38-4 W5M in the Sylvan Lake area of Alberta, and based upon the results of the logging test results, the well is currently being cased. Completion efforts will commence within the next several days to establish the potential oil and natural gas productivity of the well. The Company participated for a fifty (50%) percent working interest in the well through to completion, and will earn a thirty (30%) percent working interest thereafter. Solara anticipates commencing the drilling of the second test well on a separate Leduc D3 reef anomaly within the next five days subject only to surface access.

The Board of Directors and management of Solara are encouraged with the results of the two wells achieved to date and look forward to reporting additional information as it becomes available.

About Solara Exploration

Solara Exploration focuses on the exploration, development and production of oil and gas properties within its core areas in the Buck Lake (Pembina) area and two heavy oil projects in the Dewberry and Borradaile areas of eastern Alberta. Solara is a publicly traded junior oil and gas company listed on the TSXV under the trading symbol SAA.A. More information is available on the Company's website at


This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward- looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

78,740,732 Class A Shares

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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