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Gold/Mining/Energy : Canadian Oil & Gas Companies -- Ignore unavailable to you. Want to Upgrade?

To: Taff who wrote (6060)	2/22/1999 3:05:00 PM
From: johnlag	Read Replies (2) \| Respond to of 24892

What happens if management doesn't close a deal at a reasonable level? Fire sale by the bridge financiers?

To: Taff who wrote (6060)	2/24/1999 1:07:00 PM
From: Taff	Respond to of 24892

ALL - Here's one to keep you eye on Luck to all in O&G Taff Solana releases preliminary test results Solana Petroleum Corp SOP Shares issued 14,746,964 Feb 23 close $0.62 Wed 24 Feb 99 News Release Also Seven Seas Petroleum Inc (SVSE.U) Also Doreal Energy Corporation (DOY) Mr. James Taylor reports Solana Petroleum's Mateguafa No. 1 well, held under the Tapir Association contract in the Llanos Basin of eastern Colombia, yielded light, 32 degree American Petroleum Institute standard crude oil at rates as high as 777 barrels per day, from a 20-foot perforated interval in the Carbonera C-7 Sandstone. The production test, performed over 54 hours, used a jet pump with a 9/64 inch nozzle. This rate, however, is not considered indicative of the true production potential of this zone, as plugging of the jet pump with junk in the hole was experienced during the test. The well will be shut in for pressure buildup and other tests for the next few days. Two other intervals in the C-7 sands, which are lower in the hole, will be retested after performing a remedial cement squeeze job to isolate deeper water-bearing sands from C-7 productive intervals. Solana holds a 38.125 per cent interest in the Mateguafa No. 1 well. Its partners are Doreal Energy with 11.675 per cent, Seven Seas Petroleum 11.875 per cent and Mohave Colombia Corporation, the operator, with 38.325 per cent. The group is also mobilizing a second rig to drill the Caporal No. 1, an exploratory well also on the Tapir block, approximately 25 kilometres to the southeast of Mateguafa No. 1 (c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com