NOTE FROM SOLIMAR'S CHAIRMAN: 1/ Nesbit #5 contains a...

NOTE FROM SOLIMAR'S CHAIRMAN:
1/ Nesbit #5 contains a substantial oil column
2/ Potential discovery may extend into this lease area (the new 200 hectares acreage):

The Chairman of Solimar Energy, Mr Frank Petruzzelli, said “Based on our preliminary assessment to date, it appears that the Nesbit #5 well contains a substantial oil column. However we are still in the process of evaluating data and conducting production testing operations. Until such time as these operations are completed it is difficult to ascertain the commercial significance of this discovery with any degree of certainty. We are also pleased that we have been able to expand our acreage position in the Silverthread area via the acquisition of an adjoining lease, where we believe the potential discovery may extend into this lease area.”