accumulate

When we finally get some drilling underway latter this year, NEO could rise just like Solimar did after encoraging results from their Maricopa Project located in San Joquine Basin. And NEO could have more than 1 new prospect drilled latter this year.


Wellington Maricopa #6 well update
Solimar Energy Limited (“Solimar Energy”) (ASX Code: SGY) is pleased to announce that the drilling
of the first well, Wellington Maricopa #6, at the Maricopa Project in the San Joaquin Basin, California
has been drilled to a total depth of 3,550 feet.
Electric logging has indicated a potential oil pay of approximately 130 feet in the primary Contact
Sand objective. Casing has been run and the well is being completed in preparation for production
equipment. The plan is to production test the well within the next month in order to ascertain the
commercial significance.

The potential oil zone encountered at the well has exceeded Solimar Energy’s expectation which is
pleasing as it is Solimar Energy’s first operated well in the Maricopa project area. At this stage the
oil pay is classed as “potential”, until the oil zone has been successfully production tested. In the
event of a successful production test, the well will be brought into commercial production as soon
as possible.

A successful production test will result in a follow-up well being drilled as soon as a rig can be
contracted at the Maricopa Wellington #7 location which has already been permitted. Additional
follow-up locations have also been identified.
Solimar Energy has a 50% interest and is operator of the Maricopa Project. Sunset Energy (ASX
Code: SEY) also has 50% interest in the project.