as anyone got any strong views about the rights issue???

dont know what this company is going ????????could anyone please let me know what future this stock has got?

Well the company just signed a contract with a colombian oil company to extract oil form their well Campo Rico. Shares went up yesterday nearly 10% This is a penny shares, needless to say it is very risky. Shares have gone up nearly 100% since it touch rock bottom last year. It seems that is going up slowly again we need to watch it. Revenues are up from last year and loses have been cut. Senior executives have been awarded few thousands of Emerald shares back in Nov., so could be a good sign for these people to work hard. I will invest some money I 'can afford' to loose. it is very risky but then again very rewarding if Emerald does good. Thanks

Visit www.emeraldenergy.com

Oil's a bubbling, someone knows something, share price through the roof, trades through the roof, announcements expected in march, this little gem will be a multi bagger, get in whilst the price is still reasonable. Only wish my 500k shares was a 1M. Never mind, punted in Cybit instead and that's starting to take off too.
Tony

well it only taken a few months from my first post about this little stock.....funny how it takes a huge move to get the conversation going.

the thing with this company is that over the years it has time and again pumped itself up only to disappoint in a big way.

this time may be different. it is cashed up, has new large shareholders on board and is in the right sector play at the moment.

momentum should lift EEN to around 2p and if there is any result from drilling will probably be north of 5. on a risk/reward basis it seems to be worth a punt but i agree wholeheartedly with xmortal.."only invest what you can afford to lose."

I bought at 4p!?!

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Like I said keep and eye on this. It gone up too far for me to buy so will wait for now. I think one can get some money, only for momentum investors as it is not clear where the co is going.

Wonder what's going to happen tomorrow (Monday) could get very hairy if Friday was anything to go by.....

Could swing violently either way over the next few days... It will be a real test of whether to buy or sell!!
Has it got further to go!!?? or is that it!!??.... Is the big question!!

Adds some excitement to my retirement I suppose!!
Regards to all John

`the only way is up` as the song goes, for this share. they are really showing good potential,with the support they now have,in opposition to the `no-news, bad news` that was evident 18 months ago.

some good news on the directorate side of things. I think is has potential just waiting for a dip.....

Company Emerald Energy PLC
TIDM EEN
Headline Director Appointment
Released 15:17 9 Feb 2004
Number 1824V


EMERALD ENERGY PLC

9 FEBRUARY 2004



Emerald Energy (Emerald or the Company)



Director Appointment



Emerald Energy plc is pleased to announce the appointment of Keith Henry as a non-executive director of the Company with immediate effect.



Up until 1995 he was Chief Executive of Brown & Root Limited and from 1995 to 1999 he held the position of Chief Executive with National Power Plc. He was Chief Executive of Kvaerner Engineering and Construction Limited from 1999 to 2002. He currently is a non executive director of Petroleum Geo- Services ASA.



In addition to the above, he has held the following past directorships:

Davy Process Technology Limited

Davy Metals Limited

Enterprise Oil Limited

International Power plc

Electricity Association Limited



There is no further information to be disclosed under paragraphs 16.4(a) and 6.F
2 (b) to (g) of the UKLA Listing Rules.




Alastair Beardsall, Emeralds Chairman said:

I am extremely pleased Keith has joined the Companys board. He has a wealth of industry experience that will help Emerald to both formulate and implement its growth strategy for the future.



Enquiries: Alastair Beardsall - 020 7925 2440

maybe this stock has turned a corner. i think i would agree with xmortal and wait for a dip...

maybe this stock has turned a corner. i think i would agree with xmortal and wait for a dip...

Up 21% today. No dip though.

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well the drill program has everyone excited...results not until end March. what other names are you looking at in the sector?

today has been good news for een campo rico has been succesfull with the drilling flow of 250 barrels a day !!!!!!!!!!!!

llew,
I understood delivery to be 750 not 250, this in addition to Gigante A`s 700+ per day. all bodes well in the fields.
snakey

what a move from the rights issue! personally i think this name will disappoint, again.

What rights issue?

last summer....at 0.55p

I am lost here, can someone explain rights issue...??? last summer...?????

from the recent report which you can access on this site not being critical but if your going to invest in shares read the results else you might as well
put the money on a horse picked with a pin ...........


Chairman's Statement

During the first half of 2003 the Group operated under a severe cash constraint
and faced an uncertain future. Following the Issue for Cash and the Rights Issue
approved by the shareholders at the EGM held on 15 August 2003 and the
appointment of an all-new Board of Directors and Executive Management, the Group
has made several positive steps towards its recovery.

With sufficient funds the Group was able to commit to drill the obligation well
under the Campo Rico Association Contract. In January 2004 the Group commenced
drilling Campo Rico #1, the first new well to be drilled by Emerald for several
years. Campo Rico #1 has now reached its final depth of 11,795 ft and has been
completed for oil production. The well flowed oil of 17 degree API gravity at a
rate of 250 barrels per day during preliminary testing and the Group estimates
that a rate of over 750 barrels per day will be achieved when a downhole pump is
installed. The well will be put on production shortly, using temporary
production facilities, to evaluate the field's long term potential.

Thx dick dasterdly, good to see someone DYOR! i have been a long term follower of this name and do see some potential but i wouldn't be surprised to see another cash call now the price has spiked.

beware volume drying up and the spread expanding...seen it all before.

Get real!

It's worth over 100m!

and your point is??? plenty of large illiquid large caps and if the management had some sense they would consolidate the shares bt a factor of 10 and then see how the stock performs.

it may be worth 100m but in monetary terms the turnover is dreadfull - even with the volume spike over the last few weeks.

Don't say the c word. Nothing has ever been so destructive to shareholder value.

EEN have been in Columbia for as long as I can remember and had to lose a man down a well to achieve a profit. The high insurance now will make that a no-no.

I sold half my holding this morning at 2.62 and if they go anywhere near 3p the rest will go.

But, seriously 100m and no sign of profit is asking for touble -Isn't it?

absolutely..trouble and only 750 barrels a day!

ps sorry about the c word...

well, i've been pumped and dumped before but at least this one offered me a fighting chance for a few days so my losses are not as bad today as they would have been without the profits from the first two days. I thought it had more to run with the volumes but wtfdik?
the market cap is ridiculous unless this well can pump out the 4000 barrels predicted four years ago.

There you go!

Check out sun !

You'll know and I'll know tomorrow!

is this all good news news for the company or not as i have only held this stock of 1 year????

more buys came in at end of day yesterday, do you think it was just profot taking going on after the rights issue or do you think that they won't make the 4000 barrel target and now everyone is offloading because of it ?

i think this company have lot of potentail

could we see the price regain momentum today after yersterdays fall

The company has a lot of potential and we will see the rise in the share price very soon!!! the time to buy is now!!!

Production should commence from the Campo Rico#1A oil well within the next few weeks..

The company posted a pretax profit of 263,000 usd yr ending Dec03 compared with pretax loss of 36.2m usd in 2002