Solana Announces Gaviotas Duster in Colombia

Solana Resources Limited states that the Bevea-1 well located in Gaviotas Block, in the Llanos Basin of Colombia will be plugged and abandoned. Bevea-1 was drilled to a total measured depth of 3,802 m (12,475 ft) penetrating the primary objectives, the Mirador and Gacheta formations. While there were minor oil and gas shows during drilling, subsequent well log analysis determined the presence of hydrocarbons in sub-commercial quantities. Solana is the operator of the Gaviotas Block with a 70% working interest. Pursuant to a farm out agreement Solana was responsible for only 40% of the Bevea-1 well costs.

Bevea-1 is the fourth well in the six exploration well drilling program Solana initiated at the beginning of 2007. To date, under this program, Solana has announced two new field discoveries, Juanambu and Costayaco (both in the Putumayo Basin) and two dry holes, Calcedonia-1 and Bevea-1 (both in the Llanos Basin). The impending Tres Curvas-1 and Cocodrilo-1 wells will complete this six well drilling program.