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Solana Resources Limited ("Solana" or "the Company") - Financial and operational highlights and consolidated financial statements (unaudited) for the nine month period ended September 30, 2006
Solana Resources Limited ("Solana" or "the Company") - Financial and operational highlights and consolidated financial statements (unaudited) for the nine month period ended September 30, 2006.
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[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 28 /CNW/ - Solana Resources Limited (TSX-V:SOR; AIM:SORL),\nthe Colombia focused independent oil and gas exploration and production\ncompany, today announces its results for the nine month period ending\nSeptember 30, 2006.\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 are primarily held through its wholly owned subsidiary, Solana Petroleum\nExploration (Colombia) Limited. The Company is headquartered in Calgary,\nAlberta, Canada.\n\n>\n\nThe discussion and analysis that follows is intended to provide a summary\nof Solana Resources Limited's (\"Solana\" or \"the Company\") activities and\nresults over the nine month periods ended September 30, 2006 and 2005 as well\nas its financial position and future prospects. It should be read in\nconjunction with the Company's audited consolidated financial statements for\nthe years ended December 31, 2005 and 2004. All numbers in this discussion and\nanalysis are expressed in Canadian dollars unless otherwise indicated.\nAdditional information (which does not form part of this announcement) is\navailable on the Company's website at www.solanaresources.com or on Sedar's\nwebsite at www.sedar.com.\n\nSolana is an international resource company engaged in the acquisition,\nexploration, development and production of oil and natural gas. The Company's\nproperties are located in Colombia, South America and are primarily held\nthrough its wholly owned subsidiary, Solana Petroleum Exploration (Colombia)\nLimited (\"Solana Colombia\"). The Company is headquartered in Calgary, Alberta,\nCanada.\n\nSIGNIFICANT ISSUES\n\nSubsequent to the end of this nine month reporting period, on October 4,\n2006, Solana underwent a significant corporate restructuring facilitated\nthrough its acquisition of Breakaway Energy Inc. Through this transaction,\nMr. Scott Price and Mr. Glenn Van Doorne, principals of Breakaway Energy,\nbecame the President and CEO and the Chief Operating Officer of Solana\nrespectively. Mr. Stephen Newton continues with Solana as the President and\ndirector of Solana Colombia while Mr. Menno Wiebe, the Vice President of\nExploration of Solana Colombia, resigned to pursue other inte...