CALGARY and LONDON, Dec. 7 /CNW/ - Solana Resources Limited (TSX-V: SOR;
AIM: SORL) announces that the Cocodrilo-1 well, located in the Catguas Block,
Catatumbo Basin, north eastern Colombia, will be plugged and abandoned.
Cocodrilo-1 was drilled to a total measured depth of 3,197 feet penetrating
the primary objectives, the Barco and Catatumbo formations. Although these
objectives were oil bearing, subsequent fluid tests and side wall core
analyses indicated that sub-commercial flow rates would be encountered.
Significant geological information was gained drilling Cocodrilo-1 which will
prove very valuable as Solana moves forward in this highly prospective area.
Solana is the operator of the Catguas Block with a 100% working interest.
Trayectoria Oil and Gas, Sucursal Colombia holds a 15% beneficial interest in
the portion of the block containing the Cocodrilo-1 well.
Cocodrilo-1 is the sixth well in Solana's 2007 six well exploration
program, and the second of the two well program on the Catguas Block. Solana
has had three successes in its 2007 exploration campaign.
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 Limited: Scott Price,
firstname.lastname@example.org, (403) 770-1822; Ricardo Montes,
email@example.com, (403) 668-6604; Nabarro Wells & Co. Limited
(Nominated Adviser): Robert Lo, RobertLo@nabarro-wells.co.uk; Marc Cramsie,
MarcCramsie@nabarro-wells.co.uk, +44 20 7710 7400; Tristone Capital Limited
(UK Broker): Nick Morgan, firstname.lastname@example.org, +44 207 355 5800;
Pelham Public Relations: Charles Vivian, email@example.com, +44 207
743 6672; Philip Dennis, firstname.lastname@example.org, +44 207 743 6363