HOUSTON, July 29 /PRNewswire-FirstCall/ -- Seven Seas Petroleum Inc.
(Amex: SEV) announced today that the Company has resumed drilling on the
Escuela 2 exploration well.  The well is currently drilling at 18,808 feet in
interbedded sandstones and siltstones.  Shortly after drilling in new
formation below the 7 5/8 inch liner, there was a gas show of 12 percent with
traces of heavier hydrocarbons (C2-C5) and an approximate 35 barrel influx of
fluid.  Initial analysis of the fluid entering the wellbore indicates water
with a skim of oil.
    The Company believes that the geological information available at this
time is not conclusive enough to determine the exact stratigraphic and
structural position of the bottom of the wellbore.  However, Seven Seas
believes it is likely that the Cambao fault has not been encountered and the
Escuela 2 is currently drilling in the lower part of the Cretaceous Villeta
formation.  A review of drilling samples and paleontological work is being
carried out on a continual basis to aid in the geological interpretation.
    Seven Seas plans to continue drilling to a total depth of approximately
19,500 feet, provided wellbore conditions permit.  When the well reaches total
depth, the Company plans to run electric logs for further evaluation.
    Seven Seas Petroleum Inc. is an independent oil and gas exploration and
production company operating in Colombia, South America.  The Company's
primary emphasis is on the development and production of the Guaduas Oil Field
and exploration of the Subthrust Dindal Prospect, both of which are located in
Colombia's prolific Magdalena Basin.
    Statements regarding anticipated oil and gas production and other oil and
gas operating activities, including the costs and timing of those activities,
are "forward looking statements" within the meaning of the Securities
Litigation Reform Act.  The statements involve risks that could significantly
impact Seven Seas Petroleum Inc.  These risks include, but are not limited to,
adverse general economic conditions, operating hazards, drilling risks,
inherent uncertainties in interpreting engineering and geologic data,
competition, reduced availability of drilling and other well services,
fluctuations in oil and gas prices and prices for drilling and other well
services and government regulation and foreign political risks, as well as
other risks discussed in detail in the Seven Seas Petroleum Inc.'s filings
with the U.S. Securities and Exchange Commission.

Link to this page:

  

http://www.prnewswire.com/comp/123145.html
CONTACT:
Daniel Drum, Investor Relations of Seven Seas
Petroleum Inc., +1-713-622-8218

---

---

Issuers of news releases and not PR Newswire are solely responsible for the accuracy of the content.
Terms and conditions, including restrictions on redistribution, apply.
Copyright © 1996- PR Newswire Association LLC. All Rights Reserved.
A United Business Media company.