The well was drilled to a total measured depth of 9,363 feet and penetrated the Buda Lime horizontally for a distance of approximately 2,530 feet.

Silver Tusk elected to terminate the well early and move forward with completing it in view of the impressive shows encountered.

Whilst drilling horizontally in the Buda Lime the well flowed at rates of up to 250 barrels of oil per hour and in a 48 hour period the well produced a cumulative total of approximately 4,200 barrels of 39 degree API gravity oil.

Silver Tusk has been granted permission to sell up to 100,000 barrels of oil until such time that all of the necessary paperwork is filed with the Texas Railroad Commission. Oil sales commenced today.

The oil produced while drilling was collected in 500 barrel frac tanks and around 3,000 barrels has already been treated to sales quality.

The well is currently shut-in and the rig is expected to be off location by early next week. Work on cleaning up the location and installing production facilities will begin as soon as the rig is off location.

It is anticipated that it may take up to 4 weeks to complete work on the production facilities and a temporary production facility using a separator and frac tanks will be employed until such time that the tank battery is fully operational.

The temporary production facility should be ready in approximately 2 weeks time.