Sahara Completes Alberta Well for Production
Sahara has recently finished drilling and completion activities at its 100% owned 16b-4 oil well located at Lloydminster, Alberta.
100% of the costs associated with drilling and completing the well were provided by an industry partner, WCSB GORR Income Participation 2008-I Corp. ("WCSB"). WCSB will receive an over-riding royalty interest on all production from this well going forward in consideration for funding its associated costs. Sahara believes that, based on initial test results, the 16b-4 oil well is capable of producing at a rate of up to 30 BOPD.