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HONDO TO DRILL LA PAZ WELL IN COLOMBIA'S MIDDLE MAGDALENA BASIN

   HONDO TO DRILL LA PAZ WELL IN COLOMBIA'S MIDDLE MAGDALENA BASIN
    ROSWELL, N.M., July 20 /PRNewswire/ -- Hondo Oil & Gas Co. (AMEX: HOG) announced today that its wholly owned subsidiary, Hondo Magdalena Oil & Gas Ltd., has staked the location to drill an extension well on its Opon Association Contract in the Middle Magdalena Basin of Colombia.  The well, designated as the Lilia No. 10, will test the La Paz formation for gas and condensate below 5,000 feet.  The location is approximately 1 1/2 miles south of the Opon No. 1 discovery well drilled by Cities Service Co. in 1965. Construction of the road to the drill site is under way, with equipment expected to move in to spud the well in late August.  The company estimates the drilling and completion of the Lilia No. 10 will take approximately six months.
    The Lilia No. 9, a Mugrosa test, was drilled to a total depth of 4,090 feet.  Hondo Magdalena has completed an intermediate log run and expects to test potentially productive zones in the Mugrosa.
    Hondo Magdalena is participating in the current effort by the Colombian minister of mines and energy and Ecopetrol to develop a national gas transmission system.  The gas pipeline system will link Colombia's major cities and provide them with a supply of natural gas, as well as provide an outlet for gas from the Opon structure as it is developed.
    -0-                     7/20/92
    /CONTACT:  C.B. McDaniel of Hondo Oil & Gas, 505-625-8700/
    (HOG) CO:  Hondo Oil & Gas Co. Ltd. ST:  New Mexico IN:  OIL SU: KJ-JL -- LA004 -- 0570 07/20/92 08:45 EDT
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Publication:PR Newswire
Date:Jul 20, 1992
Words:271
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