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Solana Resources (SORL:AIM) 145p

This pure Columbian E&P play, which is listed in Toronto as well as on Aim, has an active and aggressive drilling programme planned for 2008. This involves a firm $57 million programme with an additional $35 million of contingent work.

Solana could spend as much as $92 million this year, drilling 14 wells – eight of which will be exploration. And at least two planned step-out wells, already under way, will help to fully establish the potential of the Costayaco discovery, made last year.

The company is fully funded on its various projects having successfully raised $60 million in 2007 and securing a $100 million credit facility.