Solara Exploration Ltd.

Solara Exploration Ltd.

September 28, 2010 12:03 ET

Solara Exploration Increases Production

CALGARY, ALBERTA--(Marketwire - Sept. 28, 2010) - Solara Exploration Ltd. ("Solara" or the "Company") (TSX VENTURE:SAA.A) (TSX VENTURE:SAA.B) announces that it has recently completed the drilling, fracing and completion of its horizontal well in the Pembina (Buck Lake) area of Alberta. The Company undertook testing operations from September 22 to 25, 2010, during which time it recovered substantially all of the load fluid and subsequently averaged approximately 1,400 barrels of oil and 2 million cubic feet of natural gas (1,730 BOE/d) of field production over the ensuing 24 hour period, ending on September 25, 2010 at a flowing pressure of 2960 kpa. Solara is currently in the process of equipping the well for production and anticipates that these activities will be completed within the next several days. Solara's share of the initial production from the horizontal well is estimated to be approximately 1,470 BOE/d. As a result, the Company's corporate production will increase from 400 BOE/d to approximately 1,870 BOE/d in the short term. The Company has additional horizontal drilling opportunities on its lands in the Pembina area which compliment its recent drilling success.

The Company is also currently placing four wells on production on its Dewberry Project located in eastern Alberta and will report on the results of these activities within the next week.

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.

BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

54,197,937 Class A Shares

986,700 Class B Shares


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Contact Information

  • Solara Exploration Ltd.
    Donald R. Holding
    President and Chief Executive Officer
    (403) 537-0458
    (403) 537-0462 (FAX)
    Solara Exploration Ltd.
    1800, 444 - 5th Avenue S.W.
    Calgary, Alberta, Canada T2P 2T8