Point Loma Resources Ltd. announced the upcoming drilling of the second delineation well at Wizard Lake and the expansion of production facilities. Facilities Upgrade: To date, the first two wells drilled into the Rex oil pool have exhibited excellent deliverability on test but have been restricted on production flow rates due to facility limitations. The new facilities will eliminate the production restrictions and, coupled with the upcoming new well, provide an opportunity to demonstrate the potential of full field development. Next steps to advance the Rex oil pool will be to place the existing two wells and the soon to be drilled new well on production to the expanded facilities. These operations are anticipated to be completed prior to year end. Current landholdings of the Corporation support the potential for 16-20 (gross) additional drilling opportunities based on internal mapping and projected well spacing. Point Loma maintains an extensive inventory of additional opportunities identified through analysis of historical penetrations that are indicative of bypassed oil pay on its lands.