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Solana Resources Limited - Llanos Drilling Program - Update
Solana Resources Limited - Llanos Drilling Program - Update.
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, June 5 /CNW/ - Solana Resources Limited which conducts\nexploration development and production activities in 14 blocks in Colombia\nannounces preliminary results of the three well Llanos drilling program which\nbegan in late March, 2006.\nThe three well drilling program has resulted in two wells capable of oil\nproduction and one well which is still drilling and which will be tested.\n\nBonaire 1\n\nThe Bonaire 1 well, drilled in the 70% Solana owned Guachiria Norte\nblock, was spudded on March 31, 2006. This well was drilled to final total\ndepth of 7,800 feet, logged and casing was run. The rig was released on\nApril 21, 2006 and subsequent operations carried out with a workover rig. The\ntotal cost of drilling, completing and testing the well was approximately $\n3.5 MM - this compares to a pre drill estimate for a completed and tested well\nof $US 5.0 million.\nThe Bonaire well was tested over two intervals; a lower one from 7,314 to\n7,326 feet which produced formation water and an upper one from 7,135 to\n7,145 feet which produced oil. The latter produced 20 barrels of high quality\n(38 degree API) oil with essentially no water on test after swabbing. A down\nhole jet pump was installed in an attempt to establish a sustainable\nproduction rate. As of the time of this update, 8 barrels of oil have been\nproduced in 13 hours. This is not typical of the sands in the area and\nadditional studies will be undertaken to determine the reason for the low\nproductivity and to determine if some form of stimulation might contribute to\nhigher flow rates. Bonaire 1 is located an all season road approximately 7\nkilometres north of the producing Solana Bucaro 1 well. Any oil produced at\nBonaire 1 would be expected to be trucked to Bucaro for processing.\nSolana employed the Schlumberger Ecoscope(TM) Logging-While-Drilling\nsystem in the Bonaire 1 well. According to Schlumberger this was the first\ndeployment of this new technology in Colombia. Its use allowed Solana to drill\nthe well cost effectively and to obtain better down hole information than\npossible with previously existing technology. Solana has also used this\ntechnology in the two wells described below.\n\nYalea 1\n\nThe Yalea 1 well, drilled in the 60% Solana owned Guachiria block, was\nspudded on April 28, 2006 with the same rig which drilled the Bonair...