Paloma area - Osso Bucco Prospect

Approximately 2,800 Acres: SAE 100% (Operator)

These leases cover the northwest extent of the large Paloma oil and gas field which has produced some 60 million barrels of light oil and over 400 billion cubic feet of gas.

Salinas has mapped the Osso Bucco prospect on 3D seismic as a potential extension of a sandstone reservoir that is still producing in the southeast of the field.

The primary target of the prospect is at 11,350 feet and has a Prospective Resource 17.6 million barrels of oil equivalent.

Shallower, previously produced sandstone reservoirs are secondary targets in Osso Bucco.

Salinas is advanced in a farmout of this project to support drilling in early 2009.  Two farmin partners, Statesman Resources and L&M Petroleum have already been secured.

The Company expects to hold 40% and operatorship of the prospect and leases with third parties funding the cost of drilling.