Sebastian River Holdings, Inc. and Drake Gold Resources, Inc. announced that their secondary drilling Joint Venture in Western Pennsylvania has received a positive report on oil production for the JV's Master lease. The JV's Operator, Chris Repasky has reported that four target wells on the lease were tested. Management is thrilled with the results.

According to Repasky, two of the four wells produced salt water, which is a strong indicator for presence of oil and another is producing oil. The JV will be testing additional wells toward a minimum of five target wells can be identified to begin reworks.