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Solana Resources Limited ("Solana" or the "Company") - Palmitas-2 Drilling Update
Llanos Basin - Colombia CALGARY and LONDON, April 14 /CNW/ - Solana Resources Limited (TSX-V: SOR...
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nLlanos Basin - Colombia\n\n\nCALGARY and LONDON, April 14 /CNW/ - Solana Resources Limited (TSX-V:\nSOR; AIM: SORL), is pleased to announce that it has successfully drilled,\nlogged, cased and is preparing to test the Palmitas-2 exploration well located\non the Guachiria Sur block in Colombia's Llanos Basin.\n\n\nDrilling commenced on Palmitas-2 on March 21, 2008, and reached a total\ndepth of 6,905 feet on March 28, 2008. Initial log interpretations and MDT\ntests indicate potential oil pay in the Carbonera C-7 Formation where light\noil was encountered.\n\n\nA Serinco service rig is currently being mobilized to test Solana's\nPrimavera-1 potential light oil discovery on the adjacent Guachiria block.\nUpon completion of testing operations at Primavera-1, anticipated to be the\nend of this month, the service rig will be moved to Palmitas-2 and commence\ncompletion and testing operations. Testing operations should take\napproximately two weeks.\n\n\nSolana is the operator and holds a 100% working interest in the Guachiria\nand Guachiria Sur blocks. Lewis Energy Colombia holds a 30% beneficial\ninterest in both blocks. The blocks are subject to fiscally attractive Agencia\nNacional de Hidrocarburos contracts. The Guachiria block also attracts an\nadditional 13% overriding royalty, applied after government royalties, to\nEcopetrol, the State oil and gas company.\n\n\nThe Pioneer-52 drilling rig was released on April 8, 2008, and is\ncurrently moving to Solana's Topocho-1 location on the Garibay block, Llanos\nBasin. Drilling is expected to start at Topocho-1 prior to month end. Solana\nholds a 50% working interest in this block. CEPCOLSA is the operator and holds\nthe remaining 50% working interest.\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 and necessarily involve risks\nassociated with oil and gas exploration, production, marketing and\ntransportation such as loss of market, volatility of prices, currency\nfluctuations, imprecision of reserve estimates, mechanical...