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Solana Resources Limited ("Solana" or the "Company") - Los Aceites-1 Flows 5,645 Barrels of Oil per Day
Guachiria Block - Llanos Basin - Colombia CALGARY and LONDON, Oct. 9 /CNW/ - Solana Resources Lim...
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nGuachiria Block - Llanos Basin - Colombia\n\n\nCALGARY and LONDON, Oct. 9 /CNW/ - Solana Resources Limited (TSX-V: SOR;\nAIM: SORL), is pleased to announce that the Los Aceites-1 exploration well\nflowed 41 (degrees) API oil at an average rate of 5,645 barrels of oil per day\n(bopd), gross, over a continuous 48 hour period.\n\n\nLos Aceites-1 reached a total measured depth of 7,108 feet on August 11,\n2008, and following initial completion operations that achieved surface\nfacility constrained rates in excess of 5,000 bopd gross, with 5% water cut\nduring a brief, 4.5 hour, clean up, a short term test was initiated on\nSeptember 27, 2008.\n\n\nThe short term test spanned a continuous 80 hour period, wherein the well\nwas flowed at three different choke sizes testing a ten foot interval, 6,874\nto 6,884 feet, in the Carbonera C-7 formation.\n\n\nFor the last 48 hours of the test, Los Aceites-1 flowed 41 (degrees) API\noil on a 98/64" choke, with 75 psi tubing head pressure, at an average rate of\n5,645 bopd gross, 3,160 bopd net of royalty to Solana. During this 48 hour\nperiod only four barrels of water were produced resulting in an insignificant\nwater cut of 0.04%.\n\n\nIn the latter part of test, the well exhibited signs of cleanup,\ndemonstrated by slowly increasing flow rates. Analysis of pressure data from\nthis test confirms permeabilities in excess of three darcies and that the\n5,645 bopd rate was achieved with less than a 15% drawdown, which is\nindicative of significant incremental flow potential.\n\n\nLos Aceites-1 is currently shut in pending government approval of an\nextended test. Solana expects to initiate this extended test in mid to late\nOctober. In anticipation, the Company is currently planning the construction\nof centralized permanent facilities at the nearby Primavera-1 location; site\nof the Company's other 2008 Guachiria discovery well. For the near term, all\nproduction will continue to be trucked.\n\n\nAs a result of the exceptional flow rates encountered at Los Aceites-1,\nthe Company is revisiting its mapping of the Los Aceites prospect with a view\nto establishing potential field limits. Based on the Company's current\nunderstanding, one additional well may be required in this field.\n\n\nSolana is the operator and holds a 100% working interest in the Guachiria\nblock with Lewis Energ...