Empresa Colombiana Abandons Alamo-1 Well in Colombia

Solana Resources

Empresa Colombiana de Petroleos S.A., the Colombian state petroleum company and operator of the Alamo-1 well located in the Catatumbo Basin of Colombia, has plugged and abandoned this well.

While well log analysis indicated several potential oil bearing zones subsequent testing failed to yield commercial oil production rates. Solana Resources was responsible for 38.4% of the costs of this well and would have earned a 26.25% revenue interest through a contractual arrangement with Ramshorn International Ltd.