Stellar announces Elk Hills Heavy Oil LLC discovers oil in second test well in Carbon County, Montana

OTCBB: SRRL

HENDERSON, NV, Nov. 3 /PRNewswire/ - Stellar Resources Ltd. (OTC Bulletin Board: SRRL), announced today that Elk Hills Heavy Oil LLC, (EHHO) has discovered oil in its successfully completed second test well located on the 22,000 acre Elk Hills Project in Carbon County, Montana.  The second well, the Paugh 2-25, is located approximately 5 miles north of the first well, the Bauwen 15-13. 

The Paugh 2-25 well has successfully cored, logged and a sixty foot oil column has been recorded in the Tensleep formation. A continuous sixty feet of four inch core has been recovered from the Tensleep formation for the purposes of technical evaluation of reservoir qualities.  Seven inch production casing has been run and well head installed.

EHHO has started drilling its third exploration well near the center of the Elk Hills property, between the first and second well.  Oil has been found on both the south end and north end of the property.

EHHO is owned 50% by the Stellar Resources Ltd. and 50% by Elk Hills Petroleum Canada Ltd.

Stellar Resources Ltd.

Ray Jefferd
President & CEO

Safe Harbor for Forward-Looking Statements:

Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations and changes in consumer and business consumption habits and other factors over which Stellar Resources Ltd. has little or no control. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

SOURCE Stellar Resources Ltd.

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