CALGARY, Sept. 17 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM:
SORL) is pleased to announce that the Tres Curvas-1 wildcat exploration well
has been successfully drilled, logged and cased as a potential new field
discovery. Tres Curvas-1 is located in the Catguas Block, Catatumbo Basin,
north eastern Colombia. Solana is the operator of the Catguas Block with an
85% working interest in the portion of the block containing the Tres Curvas-1
well. Trayectoria Oil and Gas, Sucursal Colombia holds the remaining 15%
Tres Curvas-1 reached a total measured depth of 3,550 feet (total
vertical depth of 3,518 feet) on September 11, 2007. Initial log
interpretations, sidewall cores, and hydrocarbon shows encountered during
drilling, indicate reservoir quality sandstones with potential oil pay in six
zones within the Los Cuervos, Barco and Catatumbo formations. These formations
are productive in nearby Venezuelan fields.
Solana plans to test Tres Curvas-1 with the DWS drilling rig that is
currently on location. Testing could take up to four weeks.
Tres Curvas-1 is the first of a two well program Solana is undertaking on
the Catguas Block. The second well, Cocodrilo-1, will be drilled with the same
rig immediately following completion of testing at Tres Curvas-1. The Catguas
Block is subject to a fiscally attractive Agencia Nacional de Hidrocarburos
royalty/tax contract with no additional state participation.
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, mechanical problems, equipment
limitations, 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,
firstname.lastname@example.org, (403) 770-1822; Ricardo Montes
email@example.com, (403) 668-6604; Nabarro Wells & Co. Limited
(Nominated Adviser): John Wilkes, firstname.lastname@example.org, +44 20 7710
7400; Tristone Capital Limited (UK Broker): Nick Morgan,
email@example.com, +44 207 399 2486; Pelham Public Relations:
Charles Vivian, firstname.lastname@example.org, +44 207 743 6672; Philip Dennis,
email@example.com, +44 207 743 6363