Solimar Energy Limited has signed a drilling contract with Key Energy Services LLC to drill the second well (K 8-33) of the Phase I work program in the Kreyenhagen Heavy Oil Project.

The rig is expected to be moved to site today, and K 8-33 is expected to spud shortly thereafter. The well will be drilled on trend to the South-East of the Discovered Resource area. The well will be directionally drilled up to a 48 degree angle and is expected to convert additional resources from the Prospective to the Discovered category.

The first well (K 2-33) of the Phase 1 program was drilled to a total depth of 1,472 feet measured depth on July 20, 2013 and was subsequently logged and cased. The well was directionally drilled up to a 48 degree angle and encountered approximately 600 feet (measured depth) gross interval of the Temblor Sandstone.

Tags: Solimar Energy Limited