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HONDO OIL & GAS REPORTS ON PROGRESS OF WELL IN COLOMBIA

 ROSWELL, N.M., March 24 /PRNewswire/ -- Hondo Oil & Gas Co. (AMEX: HOG) today reported on the status of the Lilia No. 10 Well being drilled by its subsidiary, Hondo Magdalena Oil & Gas Ltd., on the Opon Contract area in the Middle Magdalena Basin, Colombia. The company has received a number of inquiries about this well.
 The Lilia No. 10 Well has been logged to a depth of 10,000 feet. The electric logs have been interpreted by the company's outside consulting petroleum engineers and they have identified 10 separate hydrocarbon-bearing zones with cumulative gross sand thickness of 350 feet and potentially productive pay of more than 100 feet. Nine of the zones are in the Esmeraldas formation and the 10th is in the top of the La Paz formation, which is the primary zone of interest for the well. The company plans to set an intermediate casing string to approximately 10,000 feet prior to drilling ahead. The Esmeraldas zones were not expected and should add productive capacity to the field if testing confirms the log indications.
 While conditioning the well bore in preparation to run casing, the drill pipe became stuck and a portion of the drill stem was left in the hole. The company is now working to recover the "fish." Thus far, more than 165 feet of drill pipe have been recovered. The company remains optimistic that the remaining fish will be recovered.
 -0- 3/24/93
 /CONTACT: C.B. McDaniel of Hondo Oil & Gas, 505-625-8700/
 (HOG)


CO: Hondo Oil & Gas Co. ST: New Mexico IN: OIL SU:

KJ-EH -- LA025 -- 9220 03/24/93 15:29 EST
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Publication:PR Newswire
Date:Mar 24, 1993
Words:270
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