Solana reports oil discovery in Colombia

Solana Resources Limited has successfully drilled, logged, cased and is preparing to test the Primavera-1 well located on the Guachiría Block in Colombia’s Llanos Basin.

Drilling commenced on Primavera-1 on February 20, 2008 and reached a total depth of 7,405 feet on March 1, 2008. Initial log interpretations, MDT tests and sidewall cores indicate potential oil pay in the Carbonera C-7 Formation, where 40o API oil was encountered, and in the Carbonera C-5 Formation, where oil shows were observed.

A service rig is being mobilized to test the hydrocarbon reservoirs encountered. Testing operations are scheduled to begin in mid-April and to be completed by the end of April.

The Pioneer-52 drilling rig was released on March 8, 2008 and is currently moving 12 km to Solana’s Palmitas-2 location on the Guachiría Sur Block. Drilling is expected to start at Palmitas-2 in mid-March and be completed by the end of March.