Solara Updates Activities at Cardium HZ Well

Solara is currently equipping and tieing-in the horizontal well located at 16-9-45-5W5M for oil and gas production from the Cardium formation at its Buck Lake (Pembina) project. Solara anticipates that the 16-9 well will be on full production within a week. After an initial production test during which time the Company recovered substantially most of the frac oil used to stimulate the Cardium formation during the completion phase of the operation, Solara was required to undertake a two week pressure survey of the Cardium formation prior to placing the well on production in accordance with the applicable regulations.

Solara also advised that it is currently engaged in completion operations on the well drilled at 14-7-38-3 W5M in the Sylvan Lake area of Alberta to establish the potential oil and natural gas productivity of the well. These activities are expected to be completed by early next week. Solara has commenced the drilling of a second test well located at 12-22-38-4 W5M on a separate Leduc D3 reef anomaly which should be finished drilling within the next several days.

The Company will report on the production, testing and drilling results of these wells once it has completed the various operations.