Update: Drilling by Reef Reso

RNS Number : 9324A

Solo Oil Plc

09 February 2011

 



For Immediate Release

9th February 2011

SOLO OIL PLC

("Solo" or the "Company")

Update: Drilling by Reef Resources, Canada

Solo Oil plc, the AIM listed International Oil and Gas Exploration and Development Company, today announces the spudding 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:

Reef Resources Ltd. (REE - TSX.V) ("Reef" or the "Company") reports spud of its Ausable # 5 well on February 8, 2011. Drilling and coring will continue over the next three weeks with completion expected before break up.

The well will be cored and data used to develop the Company's gas storage asset and assist in determining horizontal drilling locations and trajectories for the first phase of the Natural Gas Recycling and Enhanced Oil Recovery ("EOR") program. The Ausable reef is currently on production and is generating revenue from the initial Enhanced Oil Recovery Natural Gas Recycling program which commenced in 4th qtr 2010.

Once Ausable #5 is completed the drilling rig will recover the stage frac tools that have delayed production from the Ausable # 2 horizontal well.

Solo Executive Director Neil Ritson commented; "We are delighted that Reef have been able to commence these key operations which will contribute to both production and the necessary knowledge to embark on the EOR scheme which is at the heart of this project."

Enquiries:

Solo Oil plc

David Lenigas

Neil Ritson

Tel [phone]

Beaumont Cornish Limited

Roland Cornish

Felicity Geidt

Tel [phone]

Glossary:

Spudding -             Commencement of drilling operations using a rotary drill bit at surface

Stage frac -             Process of creating fractures in the reservoir rocks through the application of high pressure fluids, in a number of phases

 

END

 

 

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