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Solana Resources Limited ("Solana" or the "Company") - Potential New Field Discovery - Tres Curvas-1 - Catatumbo Basin - Colombia
Solana Resources Limited ("Solana" or the "Company") - Potential New Field Discovery - Tres Curvas-1 - Catatumbo Basin - Colombia.
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nCALGARY, Sept. 17 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM:\nSORL) is pleased to announce that the Tres Curvas-1 wildcat exploration well\nhas been successfully drilled, logged and cased as a potential new field\ndiscovery. Tres Curvas-1 is located in the Catguas Block, Catatumbo Basin,\nnorth eastern Colombia. Solana is the operator of the Catguas Block with an\n85% working interest in the portion of the block containing the Tres Curvas-1\nwell. Trayectoria Oil and Gas, Sucursal Colombia holds the remaining 15%\ninterest.\n\n\nTres Curvas-1 reached a total measured depth of 3,550 feet (total\nvertical depth of 3,518 feet) on September 11, 2007. Initial log\ninterpretations, sidewall cores, and hydrocarbon shows encountered during\ndrilling, indicate reservoir quality sandstones with potential oil pay in six\nzones within the Los Cuervos, Barco and Catatumbo formations. These formations\nare productive in nearby Venezuelan fields.\n\n\nSolana plans to test Tres Curvas-1 with the DWS drilling rig that is\ncurrently on location. Testing could take up to four weeks.\n\n\nTres Curvas-1 is the first of a two well program Solana is undertaking on\nthe Catguas Block. The second well, Cocodrilo-1, will be drilled with the same\nrig immediately following completion of testing at Tres Curvas-1. The Catguas\nBlock is subject to a fiscally attractive Agencia Nacional de Hidrocarburos\nroyalty/tax contract with no additional state participation.\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 problems, equipment\nlimitations, environmental risks, competition from other producers and ability\nto access sufficient capital from internal and external sources; as a\nconsequence, actual results may differ materially from those anticipated.\n\n\nSolana R...