Point Loma Resources Ltd. announced the Wizard Lake HZ 1-8-48-27W4 Rex well has been successfully drilled and cased, on schedule and on budget. This is the first of two wells in a farmout program with Salt Bush Energy Ltd. Well was successfully drilled from the existing 16-17Hz padsite to 3033m measured depth with a 1461m lateral section. Excellent reservoir quality was encountered throughout the lateral section with oil shows, porosities and gas readings exceeding those recorded in the original 16-17Hz discovery well. The 1-8Hz lateral length is 20% longer than the discovery well 16-17Hz. 35 frac sleeves were cemented into the wellbore which represents a 30% increase from the previous well. Completion will commence in mid-August and the well will be put on production immediately thereafter.