Quadra Resources Corp.

Quadra Resources Corp.

January 05, 2005 13:46 ET

Quadra Resources Corp: Colombian Drilling Operations Reach Total Depth


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: QUADRA RESOURCES CORP.

CNQ SYMBOL: QDRA.U
FRANKFURT SYMBOL: QR1

JANUARY 5, 2005 - 13:46 ET

Quadra Resources Corp: Colombian Drilling Operations
Reach Total Depth

CALGARY, ALBERTA--(CCNMatthews - Jan. 5, 2005) - Quadra Resources Corp
(CNQ:QDRA.U) (FWB:QR1) is pleased to report that the B2X well, located
in NE Colombia, reached total depth at 3,900 feet subsurface on January
4, 2005. Drilling was accomplished on schedule with formations being
encountered as anticipated in the drilling program. The B2X well offsets
the B1X well that the Company drilled in September 2003 which indicated
over 120 meters (400 feet) of net hydrocarbon pay in logs but was
untested due to mechanical well bore failure. The B2X well is being
drilled on the Company's 100% owned 180,000 acre Iraca Association
Contract. The B2X well is now the second well into the 3000 acre
Becerril Structure.

Electrical logging operations are expected to commence later today.
Installation of production casing and cementing is expected to commence
shortly after receipt of logs.

Upon the technical review and analysis of the electrical logs, cased
hole testing is expected to commence January 8, 2005 and continue for at
period of 2 weeks.

Michael Nugent, President stated "Our technical team and I are pleased
with the drilling operations to this point, with preliminary indications
being encouraging. We look forward to receipt of information from the
logs and the commencement of testing operations."

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Quadra Resources Corp
    Michael Whitehead
    Vice-President
    (403) 263-2789
    Email: m.whitehead@quadrares.com
    Website: www.quadrares.com
    Neither the CNQ nor the Frankfurt Exchange have approved or disapproved
    this information.