Point Loma Resources Ltd. announced the spudding of the first farmout well of the Corporation's recently announced two well farmout program with partner Salt Bush Energy Ltd. Highlights; Rex oil horizontal was spudded July 27, 2019. Once drilled, the well is expected to be completed and evaluated prior to the end of August 2019; Salt Bush Energy is paying 100% of the costs to drill, complete and equip to earn a 75% working interest before payout and a 40% working interest after payout; This target has the potential to increase current oil and ngl production, enhance the Corporation's reserves base and open up new oil development opportunities for Point Loma; Point Loma will have a 25% working interest BPO and a 60% working interest APO; Salt Bush has the option to drill a second earning well prior to December 31, 2019, paying 100% of the costs to drill, complete and equip to earn a 75% working interest in the well BPO and 50% working interest APO.