Update, Ausable #5, Canada

RNS Number : 6316H

Solo Oil Plc

01 June 2011

 



For Immediate Release

1 June 2011

SOLO OIL PLC

("Solo" or the "Company")

Update, Ausable #5, Canada

Solo Oil plc, the AIM listed International Oil and Gas exploration and development company, today has been informed of a new timetable for testing and completion of the Ausable#5 well in South Western Ontario by its Joint Venture partner Reef Resources Limited ("Reef"). 

Reef's announcement, to the Toronto exchange, reads:

June 1, 2011 - Calgary, Alberta - Reef Resources Ltd. (REE - TSX.V) ("Reef" or the "Company") anticipates that the completion rig will be moved on site early next week and the completion acid job will be conducted by the end of next week.  Flow testing of the well will be conducted upon completion of the acid job.

Movement of the drilling rig off the Ausable # 5 well and the subsequent move of the completion rig on the site have been hampered by extremely high rainfall conditions in South Western Ontario.

Reef recently completed the log analysis on its Ausable # 5 well.  Log analysis indicates 72 metres net pay of oil and NGL's in the Guelph and A2 formations.

Reef will be announcing test results after completion of Ausable #5 and the details of the next development steps in the Enhanced Oil Recovery - Natural Gas Liquids program in due course. The Ausable reef is currently on production and is generating revenue from the initial program which commenced in 4th quarter 2010.

For further information:

Solo Oil plc David Lenigas Neil Ritson	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish	[phone]
Shore Capital Joint Broker Pascal Keane Edward Mansfield	[phone]

Pelham Bell Pottinger

Mark Antelme	[phone]
Henry Lerwill

 

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