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Solana Resources Limited - Calcedonia-1 Exploration Well Results
Solana Resources Limited - Calcedonia-1 Exploration Well Results.
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nCALGARY, March 26 /CNW/ - Solana Resources Limited (TSX-V: SOR;\nAIM: SORL) announces that the Calcedonia-1 well located in the Guachira Norte\nBlock in the Llanos Basin, Colombia, has been plugged and abandoned. This well\nwas drilled to a total depth of 8,138 feet and successfully penetrated a large\nCarbonera C7 structure that had oil shows and excellent reservoir parameters.\nSubsequent extensive testing proved the structure was water bearing. Solana is\nthe operator of the Guachira Norte Block with a 70% working interest. Pursuant\nto a farm out agreement Solana was responsible for only 40% of the \nCalcedonia-1 well costs.\n\n\nIn the immediate vicinity there remains a significant Carbonera C5 target\nwhich the Company intends to test in the near future. Activity in the Llanos\nBasin, which includes drilling the Bevea-1 exploration well and the\nacquisition of over 300 square kilometres of 3-D seismic data, is part of a\nwider extensive exploration and development program for the first half of\n2007. This program includes drilling two wells in the Putumayo Basin\n(Juanambu-1 has already been press released as a discovery) and an additional\ntwo wells in the Catatumbo Basin. This program is fully funded with existing\nresources.\n\n\nMr. Glenn Van Doorne, Chief Operating Officer of Solana, a Petroleum\nGeologist, is the qualified person who has reviewed the technical information\ncontained in this news release.\n\n\nForward Looking Statements\n\n\nCertain information regarding the Company, including management's\nassessment of future plans and operations, may constitute forward-looking\nstatements under applicable securities law and necessarily involve risks\nassociated with oil and gas exploration, production, marketing and\ntransportation such as loss of market, volatility of prices, currency\nfluctuations, imprecision of reserve estimates, environmental risks,\ncompetition from other producers and ability to access sufficient capital from\ninternal and external sources; as a consequence, actual results may differ\nmaterially from those anticipated.\n\n\nSolana Resources Limited\n\n\nSolana (www.solanaresources.com) is an international resource company\nengaged in the acquisition, exploration, development and production of oil and\nnatural gas. The Company's properties are located in Colombia, South America\nand a...