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Gold/Mining/Energy : Canadian-under $3.00 Stock-Picking Challenge

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To: brian krause who wrote (4640)	11/5/2001 10:45:10 PM
From: Al Collard	Read Replies (2) of 11802

SAV-v...latest NR: Solaia Ventures' drilling operations ahead of schedule Mon 5 Nov 2001 News Release Mr. Arndt Roehlig reports Drilling operations are ahead of schedule and are currently at a total depth of 10,850 feet of progress. Drilling operations entered the primary target of the Brown Mountain sand at 10,810 with 230 units of gas measurement units throughout the top 20 feet. Drilling operations will mimic the original hole and are expected to experience continuing gas shows throughout the day. Penetration rates are running at five feet per hour in shale and 60 feet per hour in sand. The company anticipates reaching a total depth of 11,200 feet by the afternoon of Nov. 6 and open hole logging will take place shortly thereafter. Initial e-logs of the Brown Mountain sands indicated potential net pay of between 50 to 100 feet. As previously announced, production casing has been completed to a depth of 10,106 feet. About Coalinga Nose prospect Solaia's Coalinga Nose No. 1-1 gas well located in Fresno county, California, was spudded on July 10, 2001. The well is located less than one mile southeast of the East Coalinga extension, which has so far produced 503 million barrels of oil. The prospect is also less than one mile northwest of the Kettleman Hills field, which has so far produced 2.9 trillion cubic feet and 458 million barrels of oil. The company holds a 4-per-cent working interest in the Coalinga Nose prospect.

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