texada sees potential in the llanos basin

The following is sourced from:
http://www.marketwire.com/mw/release.do?id=819054

Baraka cracks a mention in Texada ann. (Texada is a US Oil Exploration and Production Company)


"Colombia

Texada is also currently pursuing additional production exploitation and exploration properties in the high potential basins of Colombia. Currently three such properties have been initially screened and are under detailed evaluation and initial discussions. All prospects in these areas have proven analogues and represent significant upside potential. The most mature opportunity is located in the Llanos Basin with several prospects in the block the largest and most prospective has reserve estimates of 6-20 MMBO based on nearby field analogs (for instance the La Punta Block 2244 oil field, Llanos Basin, historic production 2 MMBO with total recoverable field reserves estimated between 6-9 MMBO and the Chicuaco Block, Llanos Basin with unrisked recoverable resource of 5-20 MMBO - Baraka Petroleum Limited. ASX Quarterly Report January 30, 2008). Potential reservoir sands are high quality with field analog wells in the area producing 1,350 BOPD of 37 degree API oil (La Punta Well, Mirador Formation, Llanos Basin - Baraka Petroleum Limited, ASX Quarterly Report January 30, 2008). The property includes a potential discovery well based on electric log interpretation that will be either re-entered or twinned to confirm. The Company is completing negotiations on these properties and will provide additional information on this opportunity as it becomes available."