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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 |
Date | Subject | Author | Discuss |
---|---|---|---|
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.deb 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-interes 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$2.32C$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. ) 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)solanaresourc rmontes(at)solanacol (Nominated Adviser): John Wilkes, solana(at)nabarro-we 7400; Tristone Capital Limited (UK Broker): Nick Morgan, nmorgan(at)tristonec Charles Vivian, charles.vivian(at)pe Dennis, philip.dennis(at)pel (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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