Point Loma Resources Ltd. announced production test results for the Wizard Lake HZ 16-17-48-27W4 Rex oil pool discovery. Final pumping rate for the Rex horizontal well over last 24 hours of the test period was 305 barrels per day (bpd) of oil (17 API) and 340 barrels of oil equivalent per day (boe/d). Point Loma's share of oil production at this rate would increase corporate oil production in excess of 100%. The corporation determined that commercial production has been established and has ended the test period. The well recovered all load fluid during the test and ultimately recovered an additional 3,178 barrels of fluid of which 1,847 barrels were oil for total fluid produced during the test of 18,829 barrels. Point Loma has a 70% working interest in the lands associated with the well. Point Loma and partner Salt Bush Energy Ltd. control 3,385 acres gross and 2,370 acres net in the area. Plans are underway to tie-in and conserve solution gas associated with the well and install production facilities. Subject to regulatory approvals the well is anticipated to be placed on production in second quarter of 2019. The test commenced December 24, 2018 and was conducted with a submersible pump to temporary production testing facilities. The test was interrupted December 30, 2018 to January 4, 2019 due to downhole pumping issues. From January 4, 2019 until January 15, 2019 the well was pumped continuously with pumping rates varying at times. The well displayed excellent inflow with total fluid rates averaging 1,123 bpd during the testing period. All load fluid was recovered during the test period and an additional 3,178 barrels of fluid of which 1,847 barrels of oil were recovered beyond the original load fluid. Oil cuts were trending upward through the continuous flow period and indicate potential for further increases in oil rates upon commencement of full time production. The final test rate is above average expectations of the Corporation and would increase Point Loma's oil production in excess of 100%. Next steps to advance the Rex oil pool will be to tie-in the solution gas to a nearby gas processing facility and install a single well battery. Work related to these activities is already underway. Current landholding of the Corporation support the potential for 10-14 (gross) additional drilling opportunities based on internal mapping and projected well spacing. Point Loma plans to release its updated year end reserves in the coming weeks and looks forward to taking further steps to unlock additional value for shareholders on this exciting new oil play.