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HONDO MAGDALENA PREPARING TO SIDETRACK WELL IN COLOMBIA

 ROSWELL, N.M., April 8 /PRNewswire/ -- Hondo Magdalena Oil & Gas Ltd., a subsidiary of Hondo Oil & Gas Co. (AMEX: HOG), announced today that it is preparing to sidetrack its Lilia No. 10 well in Colombia. The company was unable to recover the remainder of a drill pipe fish that was stuck in the well. The sidetrack will be initiated at approximately 7,300 feet.
 William Daily, vice president of Hondo Magdalena said, "The decision to sidetrack was based upon the analysis of well logs run to a depth of 10,000 feet in the Lilia No. 10. The logs indicated that greater then 100 feet of potential net hydrocarbon pay were present in the well bore. The well had penetrated the top of the La Paz formation and high-quality reservoir rock was encountered. Comparisons of the logs of the original La Paz discovery well and its subsequent confirmation well indicated that the La Paz at Lilia No. 10 could contain several hundred feet of net pay."
 Based upon experience gained in the original well bore, Hondo Magdalena estimates that it will take approximately six weeks to sidetrack the well to 10,000 feet. After the drilling of the well is completed, the company plans a comprehensive testing program, including testing of the zones identified in the electric logs run in the original well bore.
 -0- 4/8/93
 /CONTACT: C.B. McDaniel of Hondo, 505-625-8700/
 (HOG)


CO: Hondo Oil & Gas Co.; Hondo Magdalena Oil & Gas Ltd. ST: California IN: OIL SU:

EH-JB -- LA020 -- 4270 04/08/93 13:13 EDT
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Publication:PR Newswire
Date:Apr 8, 1993
Words:260
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