United Bolero Begins Production in Wyoming

United Bolero Development reports preliminary flow rates from well number one (Sidney 2-33) at their Smokey Gap project located in Wyoming, USA of 22 bbls/day. Schlumberger Oilfield Services will be on site performing more in depth analysis of Sidney 2-33. Well number 2 (Sydney 1-33) has a pay zone of approximately 20 feet however it did require some additional attention, which resulted in the decision to place a plug below the fracture in order to prevent oil from seeping down to the next fracture. This plug appears to have been successful and as such Schlumberger will be perforating this well.

President Mike England states, "We are very pleased at the initial results of our new venture. United Bolero has taken the first step towards becoming a successful junior company with cash flow and revenues now emerging. Bolero plans to maintain an aggressive growth strategy by acquiring undervalued assets and obtaining financing to advance them to their full potential."

United Bolero will earn a 50% working interest in each of the 5 wells contained in the Smokey Gap agreement with Big Snowy by spending $50,000 USD per well on drilling costs. To date, 2 wells have been drilled on the Smokey Gap field. The drill site for the third hole has been prepared and upon completion of perforation of Sydney 1-33, drilling will commence.