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Golden Aria Corp. Announces Saskatchewan Drilling Plans
VANCOUVER, British Columbia, February 26, 2008
Golden Aria Corp. (OTCBB: GARA) ("Golden Aria ") has been notified by Texalta Petroleum Ltd., the operator of our Wordsworth light oil project, that based on extensive seismic work the next horizontal well will be drilled this summer.
This is a follow-up well to the new pool discovery well at 2A2-23/3A11-14-7-3 W2 in June 2006. This original discovery well, in which Golden Aria has a 3.75% net working interest, originally produced over 200 bbl/d. This area of South Eastern Saskatchewan offers high netbacks with up to 36 degree light oil from the Alida formation. The advent of horizontal drilling has enabled Golden Aria the opportunity of high initial flow rates for rapid payback of capital invested making the Wordsworth and West Queensdale Projects a top priority for increasing corporate cash flow at this time.
CORPORATE UPDATE
Golden Aria continues to evaluate conventional Oil & Gas Projects from grass roots through Enhanced Oil Recovery in Canada and the United States with its excellent technical team. Golden Aria has also begun conducting due diligence on Alternative Energy Projects with low or no carbon emissions that offer longer term sustainable returns on capital investment.
About Golden Aria Corp.
Golden Aria Corp. is an energy company active in Saskatchewan, Canada. Golden Aria routinely evaluates additional oil & gas projects and corporate opportunities. For further Information please visit our website www.goldenaria.com or contact Mr. Robert McAllister, President.
CONTACT:
Golden Aria Corp.
Robert McAllister
1-250-870-2219
www.goldenaria.com
This News Release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that Golden Aria will become a world-class oil and gas company, the ability to build shareholder value through the evaluation and acquisition of oil and gas exploration or production opportunities, and the ongoing evaluation of oil and gas projects from around North America.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. In particular, identifying and evaluating potential projects and estimating reserves involves inherent engineering uncertainties as well as inherent uncertainties about the future fluctuations in the price of oil and gas, which can cause estimates of economic reserves to be revised upwards or downwards. Other factors affecting forward looking statements include, among others, the inherent uncertainties associated with oil and gas exploration; legislative, environmental, judicial, regulatory, political and competitive developments in areas in which Golden Aria operates; and technological, mechanical and operational difficulties encountered in connection with Golden Aria 's activities. These forward-looking statements are made as of the date indicated, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in such statements are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Potential investors should refer to the risk factors disclosure outlined in our annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic and current reports filed from time-to-time with the Securities and Exchange Commission.
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