Solara Exploration Ltd.
TSX VENTURE : SAA.A
TSX VENTURE : SAA.B

Solara Exploration Ltd.

November 20, 2006 12:08 ET

Solara Announces Recent Operating Results and Current Drilling Activity

CALGARY, ALBERTA--(CCNMatthews - Nov. 20, 2006) - Solara Exploration Ltd. (TSX VENTURE:SAA.A) (TSX VENTURE:SAA.B) ("Solara" or the "Company") is pleased to announce that since August, it has participated in the drilling and casing of ten potential gas wells situated on various projects in Alberta. The Company's working interests vary from 30% to 75% in the cased gas wells. One of the wells in which Solara has a 50% interest has been completed and had final test flow rate of 920 thousand cubic feet of gas per day (Mcf/d) and 46 barrels of oil per day (Bbls/d) from one zone. Solara has a 35% interest in a second well that had a final test flow rate of 1.5 million cubic feet of gas per day (MMcf/d) and 75 barrels of oil per day (Bbls/d), from two zones. The Company's share of production from the two wells is estimated at 215 barrels of oil equivalent per day (Boe/d) based on the final test flow rates. The test periods were conducted over a period of up to 77 hours. The operator has plans underway to tie-in the two wells for production by late December 2006 or early January 2007, which may or may not be produced at their final flow test levels. The remaining eight wells will be completed and evaluated prior to year end. Additional information with respect to these wells will be released once it becomes available.

The Company is currently tieing-in four additional wells which together with its ongoing optimization activities, collectively, are expected to contribute approximately 120 barrels of oil equivalent per day (Boe/d) of net field production in December. These production additions are expected to increase Solara's daily field production from its current level of 280 barrels of oil equivalent per day (Boe/d) to an estimated 400 barrels of oil equivalent per day (Boe/d). New production obtained from the remaining wells recently drilled including the two wells tested as noted above will be incremental to this production estimate.

Solara is currently participating in the drilling of thirteen wells on several oil and gas projects located in Alberta before year end. Eight of the wells are being drilled on oil prone prospects. The Company will operate the drilling of nine of the wells. In addition, Solara is conducting seismic programs designed to identify new locations on certain of it's undeveloped lands which may be drilled in 2007.

The management and directors are very pleased with the drilling results obtained to date and Solara's continued prospects for growth during the balance of the year.

Solara Exploration Ltd. is an emerging junior oil and gas company focused on exploration, development and acquisition of oil and natural gas in western Canada.

ADVISORY: Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with oil and gas exploration, production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, imprecision of reserve estimates, environment risks, competition from other producers and ability to assess sufficient capital from internal and external source. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.

17,992,981 Class A Shares

1,044,000 Class B Shares

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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