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

To: G.T. who wrote (11)	2/24/1999 12:19:00 PM
From: Taff	Respond to of 1747

ALL - PR Feb 24-99 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

To: G.T. who wrote (11)	2/24/1999 8:59:00 PM
From: Taff	Read Replies (1) \| Respond to of 1747

1000, is marginal IMO, 800 bbl's out of plugged pump sounds good to me, I would thinking it willl be closer to 3000 when all is said and done, they are only testing the upper zone right now. AS far as selling that could be brokers selling out positions on people that havn't paid their bills, it is month end, time for good deals to be had. I picked up another 7K today, and looking for more before this stock becomes too well known. Based on a flow of 777 boe/d flowed for 56 hours around 2000 bbls produced sold at 6$ per bbl net 38% around 2.25 per bbl x 2000 net $$$ today 4,000 USD, company is makin money Luck to all Taff