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SORL Solana Res

132.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Solana Res LSE:SORL London Ordinary Share CA8341281001 COM SHS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 132.50 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Solana Res Share Discussion Threads

Showing 351 to 372 of 675 messages
Chat Pages: Latest  15  14  13  12  11  10  9  8  7  6  5  4  Older
DateSubjectAuthorDiscuss
26/9/2007
21:16
Good news out on TSX! Looks like we'll get an RNS tomorrow!
someuwin
26/9/2007
13:18
SORL is flying,up 15p,16%,very low volume in Uk.It will be interesting to see how the TSX performs today.
sg31
26/9/2007
09:30
someuwin

I think with the recent volume in canada and with all the 'noise' I would think the results would be coming out this week or next week at the latest. Here's hoping for some pleasing flow rates.

Norman.

norman the doorman
26/9/2007
09:24
Good post norman. Have read the stockhouse BB and everyone seems very bullish on SORL. As I understand it we should get the Tres Curvas test results within a few weeks?
someuwin
26/9/2007
08:07
I still feel this is way undervalued. The oil is there its just a question of how are we going to fund the development of the fields. 3 fields to bring online in 2008 and 6-8 exploration wells to come. Potential is massive. Fiscal terms are amoungst the best in the world. $60+ netbacks with WTI at $80.

anyone new would do well to read

https://tristone.debianit.com/ResearchReports/SOL_07_06_21.pdf



if the results at tres curvas are as good as people are touting then we should be at £1.50 pretty quick. check oiljacks comments on Stockhouse BB. links above.

Costoyaco 2+3 in the new year should really help us motor.

DYOR.

norman the doorman
26/9/2007
07:39
Nice move up after last night's rise on TSX.
someuwin
24/9/2007
19:16
Part of Broker coverage found on stockhouse.com...

September 19, 2007 – Summary Note
Please See Full Report for More Detail
Energy – Foreign Producers
SOR, TSX-V – C$1.85 12-Month Target: C$2.75
SORL, LSE-AIM – 87p Rating: Overweight (Speculative)
Potential Return: 49%
Market Cap (F.D.): C$204 million
All values in US$ unless otherwise noted.
Key Metrics (2008E)
Production (Boe/d) 2,695
EBITDA (MM) $24.1
FDCFPS $0.18
EPS $0.08
Capex (MM) $40.6
Net Debt (MM) $17.0
Investment Thesis • Solana Resources Ltd. (Solana) is a Canadian-based energy company with a focus on
acquiring and developing oil and gas properties in Colombia, South America.
• A new senior management team took control of Solana in October 2006 and refocused company
efforts on high-working-interest, high-impact, low-royalty properties in four prospective basins
in Colombia. As a result, a six-well exploration program was initiated in Q1/07.
• The company has drilled five wells to date, resulting in two significant new field discoveries
and one potential new discovery.
• The new field discovery wells (Costayaco-1 and Juanambu-1) tested at a combined rate of
6,782 Bbl/day of medium-gravity oil (20°–33° API). The company expects to be producing
from both wells in Q3/07. The potential new discovery well (Tres Curvas-1) indicates
reservoir-quality sediments in six separate zones that will be tested over the coming month.
• By our estimation, the full value of the company's recent discoveries is not being recognized
in the current share price. We believe that there is the potential for significant near-term
value addition as the company continues its drilling and testing program.
Valuation • We model a FDNAVPS range of C$2.32–C$3.12 and set a 12-month target price of C$2.75,
based on C$1.94/share (FD) for our base-case valuation plus C$0.38/share (FD) for the Tres
Curvas and Cocodrilo prospects and C$0.40/share of upside value from the Costayaco Field.
Catalysts • Events that could act as catalysts for share price appreciation include:
− Testing results for the Tres Curvas well in the Catguas Block (October 2007)
− Drilling results for the Cocodrilo well in the Catguas Block (November 2007)
− First production from the Juanambu field (September or October 2007)
− First production from the Costayaco field (October 2007)
− Additional drilling and testing in the Costayaco field (November and December 2007)
− Future exploration success in the Putumayo, Llanos and Catatumbo basins
Conclusion • Drilling and testing over the next three to six months should provide additional clarity on the
recoverable reserves in the Costayaco field and the Catguas prospects. We recommend that
investors take a position in Solana before news is released, as we believe there is significant
near-term upside that is not currently priced into the stock.
• We are initiating coverage of Solana with an Overweight (Speculative) rating and
12-month target price of C$2.75.

someuwin
18/9/2007
20:42
CATATUMBO BASIN PROJECTS

CATGUAS BLOCK

The Catguas Block located in the Catatumbo basin in northeastern Colombia
encompasses approximately 393,000 acres and was granted to Solana by the ANH
on October 14, 2005.
This basin is the western extension, into Colombia, of the Maracaibo
basin of Venezuela. The Maracaibo basin has produced an estimated 37 billion
barrels of oil to date with 20 billion barrels estimated remaining to be
produced. In Colombia, immediately adjacent to the Catguas Block, are fields
such as the Tibu field (found in 1940 and with 260 million bbls produced to
date), the Petrolea field (discovered in 1934 with 38 million bbls produced to
date) and the Rio Zulia field (dating from 1962 and with 137 million bbls
recovered to date). Two existing oil pipelines cross the Catguas Block. As
these are now underutilized, they provide important infrastructure for access
to markets.
Although little exploration has taken place in the Catatumbo Basin within
the past 25 years, the Catguas Block contains two wells, drilled in the late
1950s, which produced oil at rates which were then deemed by the previous
operator as sub commercial due to low oil prices, poor fiscal terms and lack
of infrastructure existing at the time of drilling. Solana has acquired
seismic over these prospects to determine whether follow up drilling is
warranted. In addition Solana has also acquired seismic over a large structure
which contains a well which, on the basis of two independent third party
studies, is interpreted to contain a substantial column of oil pay in a
fractured reservoir similar to that which produces in other fields in the
region.



So we have yet another new field discovery. The proximity to the Tibu field is exciting. The size of the block is massive at around 1,620km.. Lets hope for some suprising flow rates here with the modern technology. With so much oil around Cocodrilo's prospects look good.

Costayaco 2+3 are also now not too far away, with perhaps the possibility of getting 20-30 wells on this prospect. I think that we should be really motoring soon.. The potential here is really mind blowing.

Hope everyones well and enjoying the recent good news.

Regards,

norm.

norman the doorman
18/9/2007
18:01
Hope interest does pick up but i doubt it.I dont know the number of shares available in this country but few of them change hands.It was interesting yesterday that the share price was only up 3.5p until the TSX came in then it shot ahead.Think the share price will always be driven by the TSX.
I hold and think this has a lot of potential.Shame about the spread.

sg31
17/9/2007
14:24
So, just 4 weeks (max) to wait for results of the testing of the 6 zones of interest in Tres Curvas-1, then straight on to drilling Cocodrilo-1. Should see interest picking up here soon.
someuwin
17/9/2007
13:36
Just been trying to add 10k, online and by phone, couldn't get them at offer price at time (80p) but I seem to have moved price up. Didn't buy but at least my holding is worth more today. :-)

Edit: soaring on TSX responsible for rise of course!

tuckswood8
17/9/2007
13:33
Getting very interesting now!
someuwin
17/9/2007
08:49
hi all.. good news. should see us back to £1.
norman the doorman
17/9/2007
06:38
Excellent news...

Solana Resources Limited ("Solana" or the "Company") - Potential New Field
Discovery - Tres Curvas-1 - Catatumbo Basin - Colombia

CALGARY, Sept. 17 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM:
SORL) is pleased to announce that the Tres Curvas-1 wildcat exploration well
has been successfully drilled, logged and cased as a potential new field
discovery. Tres Curvas-1 is located in the Catguas Block, Catatumbo Basin,
north eastern Colombia. Solana is the operator of the Catguas Block with an
85% working interest in the portion of the block containing the Tres Curvas-1
well. Trayectoria Oil and Gas, Sucursal Colombia holds the remaining 15%
interest.
Tres Curvas-1 reached a total measured depth of 3,550 feet (total
vertical depth of 3,518 feet) on September 11, 2007. Initial log
interpretations, sidewall cores, and hydrocarbon shows encountered during
drilling, indicate reservoir quality sandstones with potential oil pay in six
zones within the Los Cuervos, Barco and Catatumbo formations. These formations
are productive in nearby Venezuelan fields.
Solana plans to test Tres Curvas-1 with the DWS drilling rig that is
currently on location. Testing could take up to four weeks.
Tres Curvas-1 is the first of a two well program Solana is undertaking on
the Catguas Block. The second well, Cocodrilo-1, will be drilled with the same
rig immediately following completion of testing at Tres Curvas-1. The Catguas
Block is subject to a fiscally attractive Agencia Nacional de Hidrocarburos
royalty/tax contract with no additional state participation.
Mr. Glenn Van Doorne, Chief Operating Officer of Solana, a Petroleum
Geologist, is the qualified person who has reviewed the technical information
contained in this news release.

Forward Looking Statements

Certain information regarding the Company, including management's
assessment of future plans and operations, may constitute forward-looking
statements under applicable securities law and necessarily involve risks
associated with oil and gas exploration, production, marketing and
transportation such as loss of market, volatility of prices, currency
fluctuations, imprecision of reserve estimates, mechanical problems, equipment
limitations, environmental risks, competition from other producers and ability
to access sufficient capital from internal and external sources; as a
consequence, actual results may differ materially from those anticipated.

Solana Resources Limited

Solana (
www.solanaresources.com
) is an international resource company
engaged in the acquisition, exploration, development and production of oil and
natural gas. The Company's properties are located in Colombia, South America
and are held through its wholly owned subsidiary, Solana Petroleum Exploration
(Colombia) Limited. The Company is headquartered in Calgary, Alberta, Canada.

NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
RELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE.


For further information: Solana Resources: Scott Price,
jsp(at)solanaresources.com, (403) 770-1822; Ricardo Montes
rmontes(at)solanacolombia.com, (403) 668-6604; Nabarro Wells & Co. Limited
(Nominated Adviser): John Wilkes, solana(at)nabarro-wells.co.uk, +44 20 7710
7400; Tristone Capital Limited (UK Broker): Nick Morgan,
nmorgan(at)tristonecapital.com, +44 207 399 2486; Pelham Public Relations:
Charles Vivian, charles.vivian(at)pelhampr.com, +44 207 743 6672; Philip
Dennis, philip.dennis(at)pelhampr.com, +44 207 743 6363
(SORL)

someuwin
17/9/2007
06:10
Positive RNS this morning
captainfatcat
14/9/2007
07:55
hi dog hope u r well mate hang in there [hd]:-))
jumbo66
14/9/2007
05:58
News soon on star of production perhaps must be getting close now?
captainfatcat
28/8/2007
10:19
Solana Resources Limited - Financial report
Date : 28/08/2007

dfgo
16/8/2007
21:40
[hd] hi there dog
jumbo66
15/8/2007
21:44
hi all.. am in croatia with mrs norman for the 2 weeks, in Pag was hoping for an update on driling at tres curvas but alas not.. will be in for a few more if it keeps around this level once im back... regards to everyone..
norman the doorman
14/8/2007
07:44
very quiet on this board - I guess there's not many following it? Looks like a good buy to me.
someuwin
13/8/2007
16:27
DFGO A very nice increase in reserves, I would not be surprised to see some initial production start soon from the new discoveries.

Good to see Emerald firm up today

captainfatcat
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