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Solana Resources Limited ("Solana" or the "Corporation") - Colombian Operations Update - Guariquies Well
Solana Resources Limited ("Solana" or the "Corporation") - Colombian Operations Update - Guariquies Well.
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\n\nCALGARY, Nov. 23 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM:\nSORL), the Colombian focused independent oil and gas exploration and\nproduction company, today announces an update on operations. Solana operates\nin Colombia through Solana Petroleum Exploration Colombia Limited, Solana's\nwholly owned subsidiary.\n\nEXPLORATION UPDATE\n\nGuariquies Well\n\nThe Guariquies well was spudded on September 28, 2005 and is currently at\n8,740 feet. Contrary to any commentary in the public domain, the Corporation\nstates that the Guariquies well has not yet reached total depth and drilling\noperations are continuing. The well bore has now been logged to 7,900 feet and\ndrilling will resume once 9 5/8 inch casing has been set.\nThe Guariquies well is the third well to be drilled under the terms of a\nShared Risk Contract between Ecopetrol and Ramshorn International\n(\"Ramshorn\"). Solana has a Commercial Agreement with Ramshorn whereby Solana\npays 96% of the Ramshorn share of the initial well cost to casing point to\nearn 75% of Ramshorn's working interest. Solana has sought the approval of\nEcopetrol for the formal recognition of its interests under, and to formally\nbe named as a party to, the Shared Risk Contract, which approval remains\noutstanding.\n\nThis release may contain forward looking statements within the meaning of\nthe \"safe harbor\" provisions of US laws. These statements are based on\nmanagement's current expectations and beliefs and are subject to a number of\nrisks and uncertainties that could cause actual results to differ materially\nfrom those described in the forward looking statements. Solana does not assume\nany obligation to update any forward looking information contained in this\nnews release.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\n\n\n","length":1902,"tagName":"div"}]