Solana Resources Limited - Potential Putumayo Basin Discovery



    CALGARY, March 19 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM:
SORL) is pleased to announce that the Company has successfully drilled and
logged a potential new field wildcat well, Juanambu-1, in the Guayuyaco Block,
Putumayo Basin, in southern Colombia. Pursuant to a farm in agreement on the
Guayuyaco Block Solana is required to pay 67% of the Juanambu-1 well costs to
earn a 50% working interest. Ecopetrol, the Colombian State oil company, has a
30% interest back-in right on commercial discoveries and to the extent such
right is exercised Solana's interest will be reduced to 35% in this block with
Gran Tierra Energy, Inc. ("Gran Tierra"), the operator, holding the other 35%
interest. Gran Tierra is a public, (OTC Bulletin Board:   GTRE.OB), oil and gas
exploration and production company with properties in Argentina, Colombia and
Peru.
    Juanambu-1 reached a total measured depth of 2,790 meters (9,154 feet) on
March 10, 2007. The well encountered reservoir quality sandstones with
hydrocarbon shows in four zones. Initial log interpretations indicate
potential oil pay in the T Sandstone Unit of the Villeta Formation and in the
Caballos Formation. There is additional potential oil pay in the KG Sandstone
Unit of the Rumiyaco Formation and in the U Sandstone Unit of the Villeta
Formation, subject to confirmation by planned well testing. The four
reservoirs encountered are proven producing reservoirs in the adjacent Santana
Block operated by Gran Tierra. The Juanambu-1 well bore is currently being
cased. A service rig with test equipment will move to the Juanambu-1 location
to run a completion string and initiate extensive testing of the hydrocarbon
zones commencing in early April. Juanambu-1 is proximal to infrastructure
allowing for early monetization of any potential commercial production.
    The Pride-17 drilling rig will be mobilized to the adjoining Chaza Block
to drill the Costayaco-1 exploration well once Juanambu-1 is cased. The
Company currently expects the drilling of Costayaco-1 to commence in early
April. Solana has a 50% working interest in the Chaza Block, with Gran Tierra,
the operator, holding the other 50% working interest.
    Mr. Glenn Van Doorne, Chief Operating Officer of Solana, a Petroleum
Geologist, is the qualified person who has reviewed the technical information
contained in this news release.

    Forward Looking Statements

    Certain information regarding the Company, including management's
assessment of future plans and operations, may constitute forward-looking
statements under applicable securities law and necessarily involve risks
associated with oil and gas exploration, production, marketing and
transportation such as loss of market, volatility of prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers and ability to access sufficient capital from
internal and external sources; as a consequence, actual results may differ
materially from those anticipated.

    Solana Resources Limited

    Solana (www.solanaresources.com) is an international resource company
engaged in the acquisition, exploration, development and production of oil and
natural gas. The Company's properties are located in Colombia, South America
and are held through its wholly owned subsidiary, Solana Petroleum Exploration
(Colombia) Limited. The Company is headquartered in Calgary, Alberta, Canada.

    NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
    RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
    ADEQUACY OR ACCURACY OF THIS RELEASE.





For further information:

For further information: Solana Resources, Scott Price,
jsp@solanaresources.com, (403) 770-1822; Ricardo Montes,
rmontes@solanacolombia.com, (403) 668-6604; Nabarro Wells & Co. Limited
(Nominated Adviser), John Wilkes, solana@nabarro-wells.co.uk, +44 20 7710
7400; Tristone Capital Limited (UK Broker), Nick Morgan,
nmorgan@tristonecapital.com, +44 207 399 2486; Pelham Public Relations,
Charles Vivian, charles.vivian@pelhampr.com, +44 207 743 6672; Philip Dennis,
philip.dennis@pelhampr.com, +44 207 743 6363

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SOLANA RESOURCES LIMITED

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