Silver Star Places Evi 7-11 Well on Tight Hole Status

Silver Star Energy has placed the "7-11" well at the Evi Project on tight hole status until such time as the multiple prospective zones encountered have been fully evaluated. The well completion process at Evi has commenced.

The "7-11" well is located in the prolific Peace River Arch region of northern Alberta, was successfully drilled and cased to a total depth of 5,500 feet (1805 meters).

Third party reports estimate that the Evi property may contain three million barrels of oil in an open pool that extends beyond the property border. Silver Star's Evi Project (a 66.7% working interest) directly adjoins leases held by Husky Energy, Storm Energy and Penn West Petroleum. Cumulative oil production from these leases on an individual well basis has been up to 2.6 million barrels. Typically, wells in the area can produce between 700-1,000 barrels of oil per day (bbls/d). A number of prolific wells, located less than 0.5 miles from the property in an analogous pool, have had cumulative historic production of 6 million barrels.

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