CALGARY, Feb. 16 /CNW/ - In its news release of February 13, 2007, reference was made to the "targeting of estimated gross recoverable reserves" in respect of a number of planned exploration wells on the Company's properties in Colombia. While it is clear from the news release that these are only exploration targets that have not yet been drilled or tested and there has been no discovery of commercial quantities of oil and gas in respect of these targets, the Company wishes to clarify that in accordance with the Canadian Oil and Gas Evaluation Handbook, the proper categorization is "undiscovered resources". Undiscovered resources are those quantities of oil and gas estimated on a given date to be contained in accumulations yet to be discovered. There is no certainty that any portion of the undiscovered resources will be discovered and that, if discovered, will be economically viable or technically feasible to produce.
Mr. Glenn Van Doorne, Chief Operating Officer of Solana, a Petroleum Geologist, is the qualified person that has reviewed the technical information contained in this news release.
Solana Resources Limited
Solana (www.solanaresources.com) is an international resource company engaged in the acquisition, exploration, development and production of oil and natural gas. The Company's properties are located in Colombia, South America and are held through its wholly owned subsidiary, Solana Petroleum Exploration (Colombia) Limited. The Company is headquartered in Calgary, Alberta, Canada.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.