Solaia Ventures to divest Garvin county interest
Solaia Ventures Inc SAV
Shares issued 5,997,716 Aug 17 2001 close $.180
Aug 17 2001 4:59:58
Mr. Arndt Roehlig reports
Solaia Ventures, due to the positive initial test results on the Coalinga Nose well No. 1-1, has entered into an agreement to
divest its interest in the Garvin county drilling program. The company received approximately 16-per-cent return on its
investment in the Garvin county project. Proceeds and resources will now focus on the Coalinga Nose well No. 1-1 and
anticipated secondary wells on the Coalinga Nose prospect area.
"Our summer drilling plan was to provide a well-balanced program of risk and reward, until such time that the high risk
associated with the Coalinga Nose could be reduced by information that supported the 3-D seismic and geological reports
conducted previous to the drilling operations. Based on the initial testing, we will focus our resources on the completion of
well 1-1 and the drilling of anticipated secondary wells on the Coalinga Nose prospect area," stated company director,
Arndt Roehlig.
