Note that this was issued by SGY........The Sesnon Fee #7...

Note that this was issued by SGY........The Sesnon Fee #7 Redrill No.1 well has reached a total depth of 10,222 feet without
encountering commercial hydrocarbons and a decision has been made to plug and abandon the
well. The Joint Venture Partners will evaluate the data from the Redrill Program to further their
understanding of the geology of the Aliso Canyon Prospect.
Solimar Energy, having successfully raised capital in early October 2008, is now focussing on
progressing its current projects which consist of three oil and gas accumulations at the:
Maricopa (oil); Southeast Lost Hills (gas); and Silverthread (oil) Projects. These accumulations
will form the basis of production growth over the coming months.
The Maricopa Project is now producing oil from two wells which is being sold to the Kern Oil &
Refining Co. The Southeast Lost Hills gas field is expected to commence production, and to sell
its first gas, by the end of November 2008. Additional wells are also scheduled to be drilled at
the Southeast Lost Hills Project early next year. The Silverthread Project is also producing
minor amounts of oil but is still under evaluation. More work is expected to be carried out at this
project over the coming months. An independent evaluation is being carried out by a third party
on the future work program at the Silverthread Project.
These projects are expected to form a strong production base for the company