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Solana Resources Limited ("Solana" or the "Company") - Costayaco-3 Successful Test Results
CALGARY and LONDON, April 16 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM: SORL) is pleased ...
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nCALGARY and LONDON, April 16 /CNW/ - Solana Resources Limited (TSX-V:\nSOR; AIM: SORL) is pleased to announce that the Costayaco-3 step out well has\nbeen successfully tested at a maximum flow rate of 2,543 barrels of oil per\nday (bopd) from 106 feet of perforations.\n\n\nSolana holds a 50% working interest in the Costayaco Field that was\ndiscovered in 2007 and which is located in the Chaza Block, Putumayo Basin,\nColombia. Gran Tierra Energy Inc., the operator, holds the remaining 50%\ninterest.\n\n\nCostayaco-3\n\n\nOn April 6, 2008, Solana completed initial testing operations on\nCostayaco-3, the third well drilled in the Costayaco field. The well had\ndrilled through the same sequences encountered in Costayaco-1 and -2, reaching\na total depth of 8,620 feet on February 20, 2008. Log interpretations from\ndata acquired during drilling indicate potential oil pay in the Caballos and\nVilleta T Formations and in the poorly developed Rumiyaco Kg and Villeta U\nFormations. A drill-stem test (DST) and flow-test (FT) program was performed\nto evaluate the Caballos Formation and the Villeta T Formation, the two\nprimary reservoirs in the Costayaco Field.\n\n\nDST-1: (8514 - 8428 and 8533 - 8537 feet; 18 feet of perforations)\nrecovered 325 barrels of water through swabbing from the Lower Caballos.\n\n\nDST-2: (8490 - 8502 feet; 12 feet of perforations) recovered 159 barrels\nof water through swabbing from the Lower Caballos.\n\n\nDST-3: (8470 - 8480 feet: 10 feet of perforations) recovered 141 barrels\nof oil with no water through swabbing over a 25.5 hour period.\n\n\nFT-1: (8242 - 8264, 8270 - 8282, 8295 - 8305 feet; 44 feet of\nperforations in the Villeta T, and 8376 - 8386, 8392 - 8404, 8406 - 8424, 8436\n- 8458 feet; 62 feet of perforations in the Upper Caballos Formation) flowed\nat a combined maximum rate of 2,543 bopd of 30 degrees API oil with only\ntraces of water. At the end of the 36 hour test the flow rate was still\nincreasing.\n\n\nThe results of this testing programme indicate an oil-water contact (OWC)\nbelow 8,486 feet in the Lower Caballos Formation. This is the first definitive\nidentification of an OWC in the Costayaco field. This data will allow for a\nmore definitive calculation of the reserves in the Caballos Formation. No\nevidence of an OWC has been identified in the Villeta T. Final completion\nop...