ann

North Yowlumne ST-1 at TD of 13,102 ft and running evaluation logs
Salinas Energy Limited reports that the North Yowlumne sidetrack-1 exploration well has reached total depth of 13,102 feet and is running wireline logs to evaluate the target section.
Since setting 7 inch casing at 11,938 feet the well has drilled 6 inch hole to 13,102 feet encountering a number of sands within the target interval.
Wireline logs are now being run to evaluate the quality and hydrocarbon potential of the sands that have been indicated on the mudlog (which was recorded while drilling).
The well is testing a large oil prospect on the South Buena Vista lease area (in the San Joaquin Basin in California) in which Salinas Energy is earning 25.0%. The prospect has potential for a resource of over 100 million barrels of recoverable oil and is immediately adjacent to the 113 million barrel Yowlumne oil field.
Drilling of the prospect is consistent with the Company’s exploration strategy to focus on strong flow rate reservoir targets in prospects with substantial oil reserves potential.