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Gold/Mining/Energy : Solana Petroleum Corp -- Ignore unavailable to you. Want to Upgrade?

To: Ed Pakstas who wrote (129)	10/13/1999 12:16:00 AM
From: Rise	Read Replies (1) \| Respond to of 1747

Is the SEVEN SEAS thing a good thing. I vaguely remember that the stock was heavily promoted a few years back. am I wrong about that? Are you insinuating that the same group who promoted seven seas is behind C.SOP. Rise

To: Ed Pakstas who wrote (129)	10/13/1999 12:22:00 AM
From: Natedog	Read Replies (1) \| Respond to of 1747

Other things that I notice is that there is no update on the web site besides the current news. (happening to fast I bet) and I also see lots of Oriental documents. Which usually equals MONEY! ALSO, accroding to this news they have worked together in the past. Solana Petroleum Corp - Solana, Doreal and Seven Seas resource estimate on Tapir Solana Petroleum Corp SOP Shares issued 14,746,964 1999-04-19 close $0.31 Monday Apr 19 1999 Also Seven Seas Petroleum Inc (SVS.U) Also Doreal Energy Corporation (DOY) Mr. James Taylor reports Solana Petroleum has received a preliminary resource estimate from an independent, third party consulting petroleum engineer for the recently-announced Mateguafa No. 1 discovery in the Tapir association contract block in the eastern Llanos Basin of Colombia. The Mateguafa No. 1 discovery was completed as a producing well after testing up to 777 barrels per day of light, sweet 32-degree API crude oil, during a 54-hour production test, from an 18-foot interval in an upper carbonera C-7 sandstone, through a nine-64ths-inch jet pump nozzle. Plugging of the nozzle by parts from the perforating gun in the hole restricted this flow rate. No water was encountered during the test. The engineering report, which was preliminary and used conservative parameters in evaluating the one well, credited the Mateguafa structure with a minimum of between 15 to 19 million barrels of potential resources, depending on oil recovery rates. This estimate includes 2.6 to three million barrels of oil in the proven reserve category, which are attributable to this well. This resource estimate assumed that all three C-7 sandstone zones encountered in the well are productive. It is believed by the company that the lower two of these C-7 sands, which encountered good oil and gas shows during drilling but tested fresh water, were subject to behind-casing water channelling from leaking formations below, and are thus capable of production. They have therefore been included in the total potential resource estimate of 15 to 19 million barrels. The preliminary report, provided by Bogota petroleum engineering consultant Carmenza Restrepo V, is being further refined to estimate the additional potential resources associated with the 3,500-acre Mateguafa structure, which will have to be confirmed by appraisal drilling, which is slated to begin as soon as the current rainy season abates. Partners in the Tapir block are Solana with 38.125 per cent, Doreal Energy 11.675 per cent, Seven Seas Petroleum 11.875 per cent, and Mohave Colombia Corporation, the operator with 38.325 per cent. Ecopetrol, the Colombian State oil company, has a right to back in for a 50 per cent interest in any commercial production established by the Solana Group. In the Cano Caranal association contract, held 50/50 with the operator, Mohave Colombia, preliminary seismic operations are under way on a 50-kilometre 2-D survey on the N structure to delineate a drilling location for an exploratory well to also be drilled when the dry season in the Llanos begins. (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com old url (better for printing)