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Solana Resources Limited ("Solana" or the "Company") Bevea-1 Exploration Well Results - Tres Curvas-1 & Cocodrilo-1 Update
Solana Resources Limited ("Solana" or the "Company") Bevea-1 Exploration Well Results - Tres Curvas-1 & Cocodrilo-1 Update.
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nCALGARY, June 27 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM: SORL)\nannounces that the Bevea-1 well located in Gaviotas Block, in the Llanos Basin\nof Colombia will be plugged and abandoned. Bevea-1 was drilled to a total\nmeasured depth of 3,802 m (12,475 ft) penetrating the primary objectives, the\nMirador and Gacheta formations. While there were minor oil and gas shows\nduring drilling, subsequent well log analysis determined the presence of\nhydrocarbons in sub-commercial quantities. Solana is the operator of the\nGaviotas Block with a 70% working interest. Pursuant to a farm out agreement\nSolana was responsible for only 40% of the Bevea-1 well costs.\n\n\nBevea-1 is the fourth well in the six exploration well drilling program\nSolana initiated at the beginning of 2007. To date, under this program, Solana\nhas announced two new field discoveries, Juanambu and Costayaco (both in the\nPutumayo Basin) and two dry holes, Calcedonia-1 and Bevea-1 (both in the\nLlanos Basin). The impending Tres Curvas-1 and Cocodrilo-1 wells will complete\nthis six well drilling program.\n\n\nTres Curvas-1\n\n\nTres Curvas-1 is located in the Catguas Block in the Catatumbo basin. The\naccess road and drilling pad have been built and a drilling rig is currently\nin transit to the well site. This well is expected to spud on or about July 6,\n2007 and is targeting a relatively shallow 1,036 m (3,400 ft) Barco formation\nstructure that is defined by 2D seismic and supported by a strong geochemical\nhydrocarbon anomaly. Tres Curvas-1 is also offsetting a well drilled some 50\nyears ago which tested oil in the Barco formation.\n\n\nCocodrilo-1\n\n\nFollowing Tres Curvas-1, the rig will be moved to drill the nearby\nCocodrilo-1 wildcat exploration well that is testing a similarly defined\nshallow Barco structure. Solana is the operator of the Catguas Block with an\n85% working interest in the area where these two wells will be drilled.\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 an...