Solana finds potential oil pay in Colombian well

Solana Resources Ltd. said its Tres Curvas-1 wildcat on Colombia's Catguas Block has found good reservoir sandstones having potential oil pay.

Sept. 17, 2007

Uchenna Izundu
International Editor

LONDON, Sept. 17 -- Solana Resources Ltd. said its Tres Curvas-1 wildcat on Colombia's Catguas Block has found good reservoir sandstones having potential oil pay.

The well, in the Catatumbo basin in northeastern Colombia, reached 3,550 ft TD. Solana said initial log interpretations, sidewall cores, and hydrocarbon shows indicated potential oil pay in six zones within the Los Cuervos, Barco, and Catatumbo formations. These formations are productive in nearby Venezuelan fields.

The DWS drilling rig will test Tres Curvas-1, which could take as long as 4 weeks.

Solana plans to drill the second well Cocodrilo-1 on the Catguas Block with the same rig once it finishes testing Tres Curvas-1. The Catguas Block is subject to a Agencia Nacional de Hidrocarburos royalty-tax contract, with no additional state participation, Solana said.

It has an 85% working interest in the portion of the block containing the Tres Curvas-1 well. Trayectoria Oil & Gas, Sucursal, Colombia, holds the remaining 15%.

Contact Uchenna Izundu at [email protected].