Just bought into this share, I think its cheap at the current price. I think in time this could be another BUR.

Anyone else holding this and what are other peoples opinions on it?

Thanks

I believe its the AGM tomoz aswell. Should get some positive updates on projects like Vigia 1, Vigia 2, CR1,2&3.

The company is consistently on track to deliver a more rapidly increasing level of profit than any other company I know, except perhaps the much more highly bought and more fully valued Burren Energy - a much larger oil company further along the development curve which Emerald seems to be closely following. EEN are quietly getting on with the task of building up the business, and that means initially exploiting its low risk, low cost, projects to build the cash
position, with which eventually to try for larger projects.

The results for 2004 showed that the company now operates effectively in Columbia. It is successfully building a track record as a successful E & P company in that country. The management can now use this track record to gain entry to newer and bigger projects focusing on countries of S.America and the former Soviet Union. The recent awards of 4 large area Technical Evaluation Agreements (TEAs) by the Columbian National Agency for hydrocarbons is evidence that the Columbian Government sees them as an important agent for reducing oilimports, and is increasingly putting them in the front rank of preferred partners to develop local oil production.

Snippet from

http://www.lemminginvestor.com/secure/EmeraldEnergyAGM020605.htmlhttp://www.lemminginvestor.com

Emerald is on the move!

Monday June 13, 06:55 PM
Oil prices climb with all eyes on OPEC

LONDON, (AFP) - World oil prices climbed on strong buying after traders said too much stock had been sold ahead of OPEC's meeting later in the week.

New York's main contract, light sweet crude for delivery in July, rose 51 cents to 54.10 dollars per barrel in early deals after striking as high as 54.60 dollars.

In London, the price of Brent North Sea crude oil for delivery in July climbed 47 cents to 53.14 dollars per barrel after hitting 53.72 dollars.

There has been a report over the weekend in the Times or Telegraph that the team at Shell who draw up the scenarios used as the basis for in-house planning have come to the view that we will have high priced oil for the next 20 years. The consensus view of analysts and the majors has previously been that the current high oil price is a short term blip which will subside in a few years time. The CEO of BP recently said that oil supply would increase in 4 or 5 years and that the oil price would fall as a result.

If you expect crude prices to fall in a few years then when you work out the value of an oil field or an entire company, you don't use today's oil price, you use the price you expect to prevail when production actually occurs - and that has been much lower than the current spot price.

Now, Shell has broken ranks and has said that high oil prices are here to stay. That means that valuations of companies such as Dana and Burren and others should be based not on the idea that prices will fall in a year or 2 or 3 back to $30-$35 but that they will remain at $40-$45 or above for the next 20 years.

This makes a huge difference to the implied value of the companies concerned. Remember that their value is not proportional to crude prices - every extra dollar is an extra dollar of profit. The effect of an increase in assumed oil prices is a significant increase in valuations.

For AIM listed companies which are all future prospects and no current production - Hardman for example - the recent scandals and shindigs on AIM have left investor confidence rather shaken. However, for companies with both production AND exploration and main market listings - Burren and Dana, fall into this category - sentiment is strong and share prices will be boosted to reflect the new level of expectation on the long term price of crude.

This sentiment will also affect Emerald.

Emerald Energy are listed on the main LSE exchange thy are not a AIM stock

Emerald will have Produced 1,500,000 barrels of oil by end of December 2005

but as always dyor

I belive the current price to very under valued we just need some decent PR to get the company in investors eyes.

copy of my post on Advfn

Production Gte#1 CR#1 JAN to end MAR . . . .2475bopd x 89 days = . 220,275 bar
Production Gte#1 CR#1#3 APR to mid JLY . . .3125bopd x 107 days = .334,375 bar
production Gte#1 CR#1#2#3 17JLY end JLY . . 5125bopd x 15 days = . .76,875 bar
production Gte#1 Cr#1#2#3 V#1 Aug . . . . . 6125bopd x 31 days = . 189,875 Bar
production Gte#1 Cr#1#2#3 V#1#2 Sept. . . . 6875bopd x 30 days = . 206,250 bar
production Gte#1 CR#1#2#3 V#1#2#3 OCT/DEC . 7625bopd x 91 days = . 693,875 bar
. . . . . . . . . . . . . . . . . . . . . . . . .Total end 2005 1,721,525 bar

The above are work out on company average figures apart from Vigia#2#3 which I have put in @ 750bopd thy could be more or less but more likely to be more imho

But as always dyor

End of December 2004 production 484,000 barrels

And this total will be 3,000,000barrels plus end of December 2006

Crude holds above $59 a barrel level

NEW YORK (AFX) -- Crude-oil futures opened lower on the New York Mercantile
Exchange Tuesday, although it held above the $59 a barrel level, on continued
concerns that demand in the second half of the year will outstrip refiners'
ability to supply. The contract for July delivery, which expires at the close of
trade today, was last trading down 32 cents, or 0.5%, at $59.05 a barrel. The
August contract, which becomes the front month contract on Wednesday, was down
33 cents, or 0.6% at $59.55 a barrel.

This story was supplied by MarketWatch. For further information see
www.marketwatch.com.

Looks like a strong close!

expect this july update to take it above 200p and if they up the reserves based on the viagra field could see some more gains hang on tight

EEN issued a trading update around this time last year. If it comes then we can expect a highly bullish statement. The price of crude has never been higher and with EENs production going up and up, this could be a golden opportunity to buy.

25/06/04 12:38 Emerald Energy PLC (EEN) Trading Update RNS

Gervis2, Agree with you about news update,Vigia2 was only 1000ft from completion
back end of May. Sometime in the very near future the result is expected
(proven field, so proablabilty of success very high).Along with completion of rework to Campo Rico wells 2 & 3 should increase output above 6000bod, more than doubling the present quoted figures.
cyril

Emerald Energy PLC
28 June 2005


Emerald Energy Plc ('Emerald' or the 'Company')

Operations Update

Emerald is pleased to provide the following update:

The Company has completed the drilling of Vigia #2 in the Campo Rico block. This
appraisal well was drilled from the Vigia #1 well location and deviated to enter
the target oil reservoirs almost 3000 ft to the southwest. The well was drilled
to a total depth of 11,680 ft and has now been completed for production.

The Saxon Energy Services (ex Parker Drilling) Rig 222 is now moving to drill
Vigia #3, a second appraisal well also to be drilled from the Vigia #1 location.

Temporary production facilities are being constructed at Vigia and it is
expected that approval for long-term production tests of Vigia #1 and Vigia #2
will be obtained shortly, which will permit early production from these wells.
The long-term production tests will be carried out using hydraulic downhole
pumps (jet pumps) as currently used at the Company's Campo Rico and Gigante
fields.

Since its discovery by Emerald in 2004, the Campo Rico field has produced over
500,000 barrels of oil and the Company is preparing a Commerciality Application
to present to Ecopetrol with respect to the field. A similar Commerciality
Application for the Vigia field will be prepared once the preliminary results
from the long-term production tests of the Vigia wells are available.

The workovers at Campo Rico #2 and #3 are currently being carried out and
production from these wells is anticipated in July as previously indicated.

Alastair Beardsall, Emerald's Chairman, said: 'The development of the Campo Rico
and Vigia fields is set to give the Company a further increase in its oil
production and is evidence of Emerald's commitment to its fast track exploration
and production programme in Colombia.'

gervis2 Just beat me to it, expected, but a great result all the same.
with vigia3 about to be spudded, mid august we could be seeing upwards of
7500bopd and at todays prices this company is seriously undervalued.
not to late to get in.
cyril

I have moved from EEN to Granby Oil and Gas (GOIL) because I believe there is more room to move in its share price than EEN. Also GOIL will announce news this week on its first Well in the north sea should be good news given this companies reputation.

Taken profits on EEN and wasnt about to lose them again like has happen so many times with this share. I still belive its a great company though and might get back into it when the price comes down to 1.60 which i think it will do as it always does.

and down goes she goes, this just seem to keep the gains very quickly will end up at the end of the 1p up.

EEN made 3.6 million on turnover of 1300 bpd. With production now above 3 times that level and the price of crude predicted to hit $69 in the short term, then can we expect profits of around 15-18 million for the year?

went up 11p now its 7p..........down, down, down, down.

Could be another field of operations for SEY or EEN!

GENEVA (AFX) - Kazakhstan's energy minister Vladimir Shkolnik said he hoped to export 130 mln tonnes of crude oil mainly to Europe within a decade as production is tripled every year.

Speaking on the sidelines of a regular United Nations meeting on Caspian Sea energy supplies, Shkolnik said the country currently had about 8 mln tonnes on tap but reiterated that it was aiming to expand that to 150 mln.

'In 10 years we are aiming to deliver to Europe, maybe not only to Europe, 130 mln tonnes of crude oil per year,' he told journalists.

Kazakhstan is regarded in the West as a potential alternative to traditional producers in the Middle East.

The Kazakh government is also aiming to put some of the blocks of offshore oil reserves it holds in its part of the Caspian up for tender open to foreign companies next year, the energy minister indicated.

'Part of the blocks will be developed together with our national oil and gas company. Part of the blocks will be put on open tender. This procedure I hope will start next year,' Shkolnik said.

Syd een finished up 13.5p on the day, with any decent coverage in
tomorrows papers could break 2 barrier again.
Best wishes with goil but prefer a proven producer.
Interesting article on chinas growing demand for oil.
http://www.resourceinvestor.com
cyril

yeah but its nearly down 5p this morning.

glad i took profits when i did.

Current MM tree shake, stick with these as improved production rates for this year, sp will rise accordingly.

SP also reacting to retracement on oil price below $60 - all short term stuff - stick with it.

sd

adiem - 28 Jun'05 - 10:55 - 5590 of 5773


I have just bought another 77,500

The order has been open for 3 days now and has been filled primarily by EVO.

I am extremly bullish on these and will be re highhlighting them on my next newsletter.

Fundamentals alone should give this a minimum value of 267p according to my valuation model, which is why I am currently increasing my holding.

Another thread here refers to this share being 10 in 12 months, that seems hopeful, I would suggest somewhere between 5 and 7 is more realsistic.
-----------------------------------------------------------------------------

The mms walked Emerald down to fill the above order which took 3 days to fill.

looks like they have another to fill

EVO thought they were worth 232p based on 5000 bpd average for 2005 at $35 a barrel clearly plenty of upside as about to deliver 6-7000 bopd in july and oil prices will be $60 before to long and the winter price could be 70-80 if not careful have bought more recently but stuck with some where I paid over 200p
can see 300p before too long but not getting enough exposure anywhere

sharemagazine have mentioned EEN 3 time in 15 months if you search the archive
and they didnt even both to mention them after the april results I think there
is some sort of conspirecy ???

This was the initial flow rate from the new Vigia field announced back in April. The significant bit was "440 bpd under natural flowing conditions".

Drilling news prompts Emerald spurt
Date: 13 April 2005

LONDON (ShareCast) - An upbeat drilling report had oil explorer Emerald Energy gushing higher today after reporting good news from its Vigia exploration well in Colombia.

Under natural flowing conditions the well produced at a rate of 440 barrels of oil per day from the Une sand and at a rate of 260 bopd from the Lower Gacheta sand, the group said.

Emerald will now seek approval for a long term production test of Vigia that will permit early production from the well, it added.

Chairman Alastair Beardsall said, The discovery of the Vigia field, just 11 km away from the producing Campo Rico field, will give Emerald a significant increase in oil production.

01/07/05 14:29 Holding(s) in Company

Emerald Energy PLC
01 July 2005


EMERALD ENERGY PLC

DISCLOSURE OF NOTIFIABLE INTERESTS UNDER SECTIONS 198 - 202 COMPANIES ACT 1985


Emerald Energy was notified on 30 June 20005 that Resources Investment Trust Plc
hold 1,975,000 ordinary shares representing 3.99 per cent of the Company's
issued share capital.


Enquiries:

Helen Manning

Emerald Energy Plc

020 7925 2440

Monday July 4, 01:09 PM
Oil prices steady in London trading after pre-weekend surge

Click to enlarge photo

LONDON (AFP) - World oil prices steadied in London, after making huge gains the previous Friday on expectations of a big rise in petrol consumption during the United States' long holiday weekend.

The price of Brent North Sea crude oil for delivery in August eased two cents on Monday to 57.52 dollars per barrel after finishing 1.96 dollars higher on Friday.

New York's main contract, light sweet crude for delivery in August, was not being traded Monday owing to the Fourth of July holiday. It had surged 2.25 dollars to close at 58.75 dollars per barrel on Friday.

A week ago New York futures struck 60.95 dollars -- the highest level since it was first traded in 1983 -- on concerns of a possible global supply shortage of heating fuel during the fourth quarter.

Brent crude hit a new record level of 59.59 dollars also on June 27, meaning prices had leapt by about 45 percent since the start of the year.

In between striking record highs and surging on Friday, prices slumped by more than four dollars per barrel after last Wednesday's unexpected rise in US crude inventories.

With prices below record peaks, the Organisation of Petroleum Exporting Countries decided last Thursday to suspended talks on a fresh rise in its crude production quota.

"This backs up the feeling that OPEC are happy with the high prices," analysts at the Sucden brokerage firm said Monday.

"However this is not to say that it is OPEC pushing prices higher. The reason remains the high demand and the lack of spare refining capacity," they added.

Oil issues outperformed as crude prices remained strong, with BP up 19.5p at 613.5p ahead of a trading update due tomorrow, Shell 11.25p ahead at 564.75p and BG rising 6.75p to 479.25p.

Also pushing the stocks higher was a report in the Observer which claimed oil prices could rocket to $100 within six months, citing the controversial Texan oil analyst Matt Simmons. Meanwhile, The Sunday Times wrote that the soaring price of oil will lead to Shell and BP returning more than 34bn to shareholders over the next two years.

EEN must be making a fortune at present. Crude has averaged over $50 per barrel over the last quarter according to BP. The latest price has also passed over the psychological $60 again today.

From BP's results today.

Resources Business: Exploration and Production

Marker Prices
2Q'04 3Q'04 4Q'04 1Q'05 2Q'05

Brent Dated ($/bbl) 35.32 41.54 43.85 47.62 51.63

WTI ($/bbl) 38.28 43.88 48.29 49.88 53.08

ANS USWC ($/bbl) 36.99 41.82 42.62 45.07 50.01

US crude futures stayed firmly above 60 usd a barrel as tropical storms caused production shutdowns in the Gulf of Mexico and hampered the importation of oil products.

quote news LondonDublin-------------United StatesFrankfurtParis-------------AmsterdamBarcelonaBerlinBilbaoBremenBrusselsCopenhagenDusseldorfHamburgHanoverLisbonMadridMadrid (M.C.)MilanMunichOslo>StockholmStuttgartValenciaViennaVirt-XXetraZurich Symbol Lookup





Wednesday July 6, 09:04 PM
Tropical storms drive oil market to new highs

Click to enlarge photo

NEW YORK (AFP) - Oil prices broke through 61 dollars for the first time as tropical storms shut down over one-tenth of US crude production in the Gulf of Mexico, dealers said.

New York's main contract, light sweet crude for delivery in August, ended 1.69 dollars higher at 61.28 dollars a barrel, just off an all-time high of 61.35 reached shortly before.

That smashed the previous peak of 60.95 reached on June 27.

In London, the price of Brent North Sea crude oil for delivery in August climbed 1.56 dollars to 59.85 dollars a barrel, beating its historic high of 59.59 reached also on June 27.

The onset of tropical storms Cindy and Dennis has forced the evacuation of 96 platforms and rigs in the Gulf of Mexico, according to the US government's Minerals Management Service.

That equates to 12.7 percent of daily oil production in the region, which is currently about 1.5 million barrels per day (bpd), it said.

Cindy was downgraded to a tropical depression after making landfall early Wednesday, but authorities were keeping a weary eye on Dennis, which they warned could hit the Gulf of Mexico this weekend at hurricane strength.

"Some offshore rigs and refineries are closing down already because of Cindy. So production is being shut down, and people are going to take a bullish view on the back of that," Bache Financial trader David Nesbitt said.

"Dennis has a good chance to be raised to a hurricane before it hits Jamaica, and it's heading towards the Gulf Coast," Nesbitt added.

"That's what's pushing the market at the moment."

Fimat Futures analyst John Kilduff said that Dennis is now "churning out in the Caribbean and threatening to become the first significantly dangerous storm of the season".

"Murphy Oil (NYSE: MUR - news) , Total (Paris: FR0000120271 - news) and Marathon have all removed non-essential personnel from rigs and the LOOP (Louisiana Offshore Oil Port), the largest import dock in Louisiana, is now closed," he added.

On its projected path, Dennis will go over some key oil and natural gas fields off the coasts of Louisiana, Mississippi and Alabama.

At 1800 GMT, the center of Dennis was 565 kilometers (350 miles) east-southeast of Jamaica, according to the Miami-based National Hurricane Center, which said the storm could strengthen into a hurricane later in the day.

In September 2004, a series of hurricanes including Ivan devastated Gulf of Mexico production, causing oil prices to rise sharply.

This time round, the market has already been trading at all-time highs given robust demand for petrol (gasoline) and fears that refineries will struggle to pump out enough heating oil during the northern hemisphere's winter.

"A considerable amount of gasoline production is in the direct path of the storm, which is why it is running ahead of heating oil," Kilduff said.

Thursday could see volatile trade when the US government publishes weekly data for US crude inventories, brokers said. The report is normally released on Wednesday but was pushed back owing to the Independence Day holiday on July 4.

The Department of Energy reported last week that crude oil reserves in the United States, the world's biggest oil consumer, rose by 1.1 million barrels to 328.5 million barrels in the week ended June 24.

Gasoline inventories climbed 300,000 barrels to 216.2 million and distillates including heating fuel increased by 1.7 million barrels to 113.2 million.

thought een was going to trouble the 200p mark soon clearly when update comes out in july will pass that level as the 6000 bopd is only matter of time anyone been watching ged too they are een's neighbours and theyve had some good rises recently

EEN's chart reminds me of Shell and BP only a matter of weeks ago. Oil was going through the roof and yet their stock was behaving as though little was happening. Then suddenly they are 20% higher. The market will wake up to EEN and when it does you may need to hold onto your hats. Bags of upside at these levels!

The FTSE 100 heads for 5,500
Says Zak Mir of Zaks-TA.com
It may not be the best of times in the wake of last week's horror in London to think of the stock market. But perhaps thinking about a new leg up for leading UK shares could be something to provide cheer in the face of events that have been so dark. While it may not be appropriate for a chartist to get too heavily into the fundamentals of the UK economy, it is generally accepted that the upward interest rate cycle is at an end. This should let off many of the sectors dependent on the High Street and the property market. However, the main driver for the FTSE 100 is unlikely to be either area in the near term.

The biggest influence on where the UK index is trading comes down to just a few stocks led by its biggest constituent, BP (BP.). From what is evident on the daily chart of BP, above 600p it is heading for at least 720p. Given that well over 10% of the FTSE 100 is made up of BP, you would not be surprised to know that this should mean that even though the oil price is supposed to be a negative influence on leading shares, considerable upside is likely for the FTSE 100 in coming weeks.

As can be seen from the support and resistance lines drawn on the daily chart of the FTSE 100, it would appear that the UK index is headed for much higher levels. This is said not only on the basis of the swift rebound from last week's shocks but also on the basis that the RSI at 67 is by no means overbought.

It also helps that the UK index is only in the middle of a wide two year ascending price channel whose resistance line projection is pointing as high as 5,550. This may sound like quite an ambitious target, but as long as the 50 day moving average at 5,010 is not broken on an end of day close basis, such a substantial target is very much on. Those following the price action of the FTSE 100 on an intraday basis last week will have noted that at its worst point on Thursday the UK index came to within nearly 20 points of the 50 day line. This looks like it was the final test for support before what should be quite a sharp rebound.

Paul Ellis Chief Operations Manager of EEN, to join Serica Energy as CEO
from Sept 1st.
Could this lead to a RNS tomorrow? if so will we get updates on Vigia and
Campo Rico?
cyril

were all waiting again for the july monthly update which should confirm the 6000 bopd which is clearly not in the price EVO said 232p cannot see them staying at this level when confirmed

Monthly update due 25-27th and will indicate at least double the prevoius bpd.
Note investment fund involvement eariler this month and todays positive buying.
Been holding this share six months and topped up when recent drop at 140p,
those who have held on will gain soonest.

We should get an RNS sometime soon. The MMs certainly seem to think so, hence why this stock is holding up well and sells are being absorbed without much affect on the shareprice.

In an AGM statement, Emerald also said that the final assembly of production facilities at Vigia is underway and production from the discovery well Vigia 1 should also commence in July. After the initial testing period it this well is expected to produce at 1,000 barrels of oil per day.

Well Vigia 2 is being drilled and is less than 1,000ft from reaching its planned total depth. The drilling should be completed and the well logged during June with first production anticipated in August.

Elsewhere, Sulfide 1, the first exploration well on the Fortuna block will be drilled and evaluated before the end of 2005, while drilling of the exploration well on the El Algarrobo block will commence by year end.

Oil majors continued to perform strongly in today's market, buoyed by positive comment from UBS, which increased its price target on BP and Shell to 700p from 620p respectively. Shares in Shell rallied 4.25p to 549p, as in addition to bullish broker comment, the oil giant confirmed it would pay back between 13-15 billion dollars to shareholders, despite costs soaring at its Russian gas project. The company said its chief, Sakhalin-2 project was now set to cost twice the original estimates, with the development now set to cost in the region of 20 billion dollars. The first shipments of liqufield gas are now set to be delayed until mid-2008. Finance director Peter Voser said today that the company remained committed to returning between 3-5 billion dollars in buybacks and a further 10 billion dollars in dividends. Shell's FTSE 100 counterpart BP, saw its shares follow suit today, as the world's third largest company finished the session 4p higher at 625.5p.

Meanwhile, investors took heart from a further comment by UBS, as it hiked its oil price estimates for 2005/07 by 12%-20%.

I expect some news at the end of july around the same time as last month and
not sure the share is holding up with the slide likely to continue until some news
could be 160p by end of the month not sure why EEN holders so fickle the future
is certainly bright so why sell out now ??

Wall Street outlook - Stock futures turn higher after economic data - UPDATE 1
AFX


LONDON (AFX) -- Stock market futures turned positive Friday after yet another indication of both an improving economy and low inflation, despite a tepid response to General Electric's in-line second-quarter earnings.

U.S. producer prices were unchanged in June despite higher energy prices, the Labor Department reported Friday. The core rate of inflation at the wholesale level fell 0.2%, the agency said. Economists had expected the producer price index to rise 0.4% in June. Core inflation was expected to rise 0.2%.

Manufacturing activity in the New York area continued to rebound in July, the New York Federal Reserve Bank said Friday. The bank's Empire State Manufacturing index rose to 23.9 in July from a revised 10.5 in June. The index continues to climb after hitting a two-year low of -11.1 in May. Economists had anticipated a flat reading of the index.

S&P 500 futures rose 0.8 of a point and Nasdaq 100 futures added 1 point; both indicators were lower ahead of the data.

The S&P 500 closed Thursday at a four-year high, and the Nasdaq Composite ended at a 2005 high.

GE as expected posted second-quarter earnings of 44 cents a share on revenue of $41.6 billion. GE did lift the low end of 2005 earnings guidance, now seeing an EPS of $1.80 to $1.83 for the year; brokers have been expecting an EPS of $1.82.

GE shares edged 28 cents lower to $35.35 in pre-open trade.

Crude-oil prices rose 61 cents to $58.41 a barrel in electronic trade.

"With yet another hurricane coming through the Gulf of Mexico oil has put on a spurt to be trading at 59.44-59.52 in the September Nymex up some 20c overnight. Gold is following the slight weakness in the dollar by rallying $0.8 to 421.9-422.5."

Emerald Energy PLC
20 July 2005


Emerald Energy plc


Operations Update


Today, at a presentation to fund managers and analysts, Alastair Beardsall,
Emerald's Chairman provided the following update:

'Since our last report at the Company's AGM the following progress has been
made:


Vigia #1 well was put on production a few days ago and was tested at 700
barrels oil per day before being shut-in for a pressure build-up. Vigia #1
is expected to produce at 1,000 barrels of oil per day.


Vigia #2 is being prepared for production testing and is expected to be
on full production in August.


Vigia #3 is being drilled and should reach its planned total depth early
next month. First production is anticipated late August.


The workover of well Campo Rico #2 is now complete; the well has been put
on production and is currently cleaning-up.


The workover of Campo Rico #3 is underway and is expected to return to
production by the end of July.


Production from Emerald's fields for 2nd quarter 2005 averaged 2,796
barrels oil per day and currently production averages 3,000 barrels of oil
per day


We plan to spud 2 more exploration wells this year, one on El Algarrobo and the
other on the Sulfide prospect within the Fortuna Bock'


The Company expects to announce its Interim Results for the 6 months to 30 June
2005 on 28 September 2005


Contact
Emerald Energy plc
Helen Manning Tel 020 7925 2440

any thoughts ??? going in the right direction but is it at the pace people expect or is this a delay and a problem with viagra? and cleaning up on CR2 ?

why bring this out with only half the facts why not wait till eo july or was it just leaked from the presentation this could be the big thing that they are actually presenting to fund managers and analyst's

overall unsure if good or bad ?

On the whole the RNS is recieved by most as positive, production date vigia3
with new drilling program at el algarrobo and sulfide.
the market is neutral and i feel in the short term will remain so.
cyril

i disagree wasnt that well received as everyopne was looking for some numbers nearer 6000 bopd and all we got was 3000 still sure it will get there in the end
but not so confinvence to buy more third lot of shares with my average price around 200p at the minute

will contact een as still hoping for update at end of july with CR2 sorted and Vigia
so perhaps 5000 bopd ?

21.07.2005
Emeralds Persistence In Colombia Starts To Pay Off With Production Now Averaging 3,000 Bpd
London-listed Emerald Energy has stuck with its exploration and development projects in Colombia through good and bad times. And that perseverance now appears to be paying off, with current production averaging 3,000 barrels per day - and climbing.

In the parlance of management consultants, this represents a real step change for Emerald, which in 2001-2 was mired in the financial fall-out from a devastating blow-out at its Gigante-1a well in the Matambo contract area in the Upper Magdalena Basin, then the companys sole source of production.

However, following a rescue rights issue and board clearout in August 2003, Emerald has got itself back on track. Gigante-1a has been rehabilitated and production stabilised at around 700 bpd of 32-degree API oil.

And it seems theres still more to play for on this project, which four years almost dragged the company under. Independent consultants reckon the field holds proven, probable and possible reserves of 18 million barrels. Emerald has recently obtained new well and seismic data from a nearby exploration block that is directly relevant to Gigante and this data is being integrated with the latest Gigante production data in order to finalise appraisal drilling plans in the Matambo contract area.

In recent years Emerald has diversified its holdings in Colombia, moving away from the complex geology of the Upper Magdalena Basin to focus on the prolific Llanos Basin. Here the company holds the Campo Rico Contract, where it now has two fields in production.

The Vigia field was put on production a few days ago via the Vigia-1 discovery well, which tested at 700 bpd. The well has now been shut-in for a pressure build up and is shortly expected to resume production at a rate of 1,000 bpd. This is heavy crude about 16-degree API and requires the use of a downhole pump to maintain production rates. Vigia-2 is being prepared for production testing and should start pumping next month while the third well on the deposit is still drilling ahead. First production from Vigia-3 is expected in late August.

Production from the nearby Campo Rico oilfield is also on the rise with the imminent completion of workovers on Campo Rico-2 and Campo Rico-3 to eliminate water ingress. Campo Rico-1 came onstream in May 2004, within 11 weeks of discovery, and pumps around 1,500 bpd of oil. Its expected that wells 2 and 3 will, following the successful workovers, produce at a combined rate of more than 2,500 bpd.

Emerald holds 50 per cent of Rancho Hermoso's El Algarrobo Association Contract area, also in the Llanos Basin. The block lies some 40 km from the Campo Rico field. An exploration well here has been delayed due to unseasonably poor weather between December and March, which hampered construction work on the well site, and will now spud later this year.

The second half will also see the company spud its first exploration well on the Fortuna block, in the Middle Magdalena Valley. The contract area includes the Totumal oil field, which, until it was abandoned in 1993, produced over 800,000 barrels of oil for state oil firm Ecopetrol. Emerald plans to target the Lisama sands that lie on the flanks of the Totumal field and which have produced in fields to the south of the Fortuna block. This is shallow drilling and wells can be sunk for less than US$1 million. The Silfide-1 well, targeting the Lisama sands, will be drilled later this year.

Meanwhile, Emeralds one-country focus may continue for the near time as its plans to expand into Russia have been thrown into disarray - as so many plans in that country do. In November 2004, Emerald entered an all-paper deal to acquire 25 per cent of JSC Krasnoyarskgazprom (KGP) of Russia from Star Capital Research Limited for a consideration of 12 million ordinary shares.

KGP holds exploration rights to the Sobin, Omorin and Beryambin licence areas in Eastern Siberia, where the reserves potential could transform Emerald Energy. The Sobin licence, where more than 50 wells have been drilled to date, is estimated under the Russian system of reserve classification to hold the equivalent of 575 million barrels of oil. The Omorin licence area is currently being explored and, to date, four wells have encountered hydrocarbons. Beryambin is virtually unexplored.
When the proposed transaction was announced, Emeralds chairman Alistair Beardsall said the company, which can boast a board with 30-odd years of experience in Russia, would proceed cautiously with the new venture. That caution is now being demonstrated on news that Gazprom, the Russian gas giant and 75 per cent owner of KGP, plans a capital restructuring of its subsidiary. Until the details of this restructuring are known Emerald, wisely, will not proceed with its investment.

For now, Colombia definitely looks the safer bet...

Emerald's interims are due in 6 weeks. This was the date of last year's announcement:

02/09/04 07:00 Emerald Energy PLC (EEN) Interim Results RNS

Highlights from oilbarrel.com article of 21.07.2005

Emeralds Persistence In Colombia Starts To Pay Off With Production Now Averaging 3,000 Bpd

London-listed Emerald Energy has stuck with its exploration and development projects in Colombia through good and bad times. And that perseverance now appears to be paying off, with current production averaging 3,000 barrels per day - and climbing.


Gigante-1a has been rehabilitated and production stabilised at around 700 bpd of 32-degree API oil. Independent consultants reckon the field holds proven, probable and possible reserves of 18 million barrels.

Emerald has recently obtained new well and seismic data from a nearby exploration block that is directly relevant to Gigante and this data is being integrated with the latest Gigante production data in order to finalise appraisal drilling plans in the Matambo contract area.

The Vigia field was put on production a few days ago via the Vigia-1 discovery well, which tested at 700 bpd. The well has now been shut-in for a pressure build up and is shortly expected to resume production at a rate of 1,000 bpd.

Campo Rico-1 came on stream in May 2004, within 11 weeks of discovery, and pumps around 1,500 bpd of oil. Its expected that wells 2 and 3 will, following the successful workovers, produce at a combined rate of more than 2,500 bpd.

Emerald holds 50 per cent of Rancho Hermoso's El Algarrobo Association Contract area, also in the Llanos Basin. The block lies some 40 km from the Campo Rico field. An exploration well here has been delayed due to unseasonably poor weather between December and March, which hampered construction work on the well site, and will now spud later this year.

The second half will also see the company spud its first exploration well on the Fortuna block, in the Middle Magdalena Valley. The contract area includes the Totumal oil field, which, until it was abandoned in 1993, produced over 800,000 barrels of oil for state oil firm Ecopetrol. Emerald plans to target the Lisama sands that lie on the flanks of the Totumal field and which have produced in fields to the south of the Fortuna block. This is shallow drilling and wells can be sunk for less than US$1 million. The Silfide-1 well, targeting the Lisama sands, will be drilled later this year.

The Company expects to announce its Interim Results for the 6 months to 30 June
2005 on 28 September 2005

from the bottom of Wednesdays RNS so a little more than 6 weeks away

Friday July 22, 12:47 PM
Oil prices rise, supported by revaluation of Chinese yuan

Click to enlarge photo

LONDON (AFP) - Oil prices have risen, supported by a revaluation of the yuan currency Thursday, seen as encouraging Chinese demand for energy from the world's second-biggest consumer of crude.

New York's main contract, light sweet crude for delivery in September, added 47 cents to 57.60 dollars per barrel in electronic deals on Friday.

In London, the price of Brent North Sea crude oil for delivery in September increased 64 cents to 56.36 dollars per barrel.

Read the Investers Presentations

http://www.emeraldenergy.com/

Shows wells to be drilled 2006 and how many.

potential reserves 75million

5 new wells 2006 Campo block etc etc

Emerald Energy says Colombian contractor Ismocol to drill Silfide well
AFX


LONDON (AFX) - Emerald Energy PLC said it has contracted Ismocol, a Colombian drilling contractor, to drill its exploration well, Silfide No 1, to a depth of approximately 5,000 ft in the Fortuna Block in the Middle Magdalena Valley in Colombia.

The rig is currently being mobilized and plans to spud the well on Oct 7.

The Silfide No 1 exploration well will target the, as yet un-drilled, Lisama sands.

Emerald chairman Alastair Beardsall said: 'Silfide No 1 is the first exploration well to be drilled into the Lisama sands on the Fortuna block and will fulfill this year's drilling commitment under the Fortuna Association Contract.'

newsdesk@afxnews.com

nes/

Emerald Energy PLC
05 October 2005


Emerald Energy Plc

Operations Update

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:

The Company has contracted Ismocol, a Colombian drilling contractor, to drill
its exploration well, Silfide No.1, to a depth of approximately 5,000 ft in the
Fortuna Block in the Middle Magdalena Valley, Colombia. The rig is currently
being mobilized and plans to spud the well on 7 October 2005. The Silfide No.1
exploration well will target the, as yet un-drilled, Lisama sands.

It had previously been announced that Silfide No.1 was to be drilled by Saxon's
Rig No. 222. However the increased activity in the worldwide rig market has
driven rig day rates to a level where the operational advantages of using an
existing contractor's rig did not compensate for the additional costs of using
an over sized rig to drill to the relatively shallow depths for the proposed
well. Under the contract with Ismocol the rig day rate and mobilization charges
are substantially less that those proposed by Saxon.

The Company is currently producing in excess of 4,300 barrels of oil per day
from 5 of its 7 production wells; the remaining 2 wells will be put on
production as the construction of enlarged surface production facilites is
completed.

Alastair Beardsall, Emerald's Chairman, said: 'Silfide No.1 is the 1st
exploration well to be drilled into the Lisama sands on the Fortuna block and
will fulfill this years drilling commitment under the Fortuna Association
Contract.'

Please note the Company's web site at
www.emeraldenergy.com
has been updated
with a copy of the new IFRS accounting policies and the presentation 'Interim
Results to 30 June 2005 & Operation Update'.

Enquiries: Helen Manning 020 7925 2440

05 October 2005

The Presentation pdf shows
All wells planed for 2006, also each field graph of oil reserves,
production graph from Q1 2004 793bopd to Q3 2005 3,611bopd daily average,
Campo Rico Field 2,800bopd
Giante#1 725bopd
Vigia#1 700bopd on reduced rate due to constructing surface facilities for greater
prodution rates, Vigia#2#3 ready for production and will be put on production when facilities completed.
Also 5 new prospects in the Campo Rico block,

http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf

the link not working go to www.emeraldenergy.com
under the Emerald Energy logo click Investers Presentation

have you read Alastair Beardsall Chairman & CEO, of EMERALD ENERGY presentation pdf http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf

It's all there

LLANOS AREA ASSETS
Campo Rico Block.
A.Campo Rico field.
B.Vigia field
C.5 Exploration prospects.

Algarrobo block.
Agueda prospect.

TEA's
Mantecal.
Altamira.
Las Brisas.
Cachama.

Campo Rico Field.
A.3 wells drilled and on production.
B.2p Reserves 5.3 mmbbl.
C.3p Reserves 8.5 mmbl.
D.3d seismic survey of 172 km2 being acquired to evaluate new well locations

VIGIA FIELD.
A.Vigia Field 3 production wells drilled.
B.Vigia#1 producing at 700bopd.
C.Vigia#2#3 Ready for production.
D.Constructing surface facilities for greater production rates.
E.Reserves are being independently Evaluated (pre-drill estimate 11 million
barrels
F Further wells planned after 3D seismic survey has been acquired and interpreted.

Matambo Assoc Contract.
A.Giante#1 Currently producing 725bopd.
B.Giante#2 well is being planned for the future.
C.Fram-Out proposal being prepared to share costs($15-$20m)of Seismic acquisition program and Giante#2 drilling costs.
D.2p Reserves 8.0 mmbbl.
E. 3p Reserves 18.2 mmbbl

EL ALGARROBO
Plan to spud Agueda#1 Q1 2006

Fortuna Assoc Contract
A.Silfide#1 Exploration well to Lisama,to Drill in Q4 2005. (Already Spudded)
B.Drill Silfide#2#3 if well #1 successful
C Planning La Luna Horizontal well in 2006.

Recoverable resources as at 31 December 2004 p+p+p/Potential 75.7 mmbbl.

EXIT 2005 (December)target gross production in excess of 5,000.

And lots more.
the link do not work go to www.emeraldenergy.com under the Emerald Energy
logo click Investers Presentation it's a very good read

Emerald are currently producing over 4,300bopd.

DFGO - I have rad all you refer to and I am puzzled as to why EEN has not performed better - I would reckon an SP of just over 200p was more appropriate. So I guess the wider market carries sentiment that there may still be historical gremlins in the company - although I cannot see any since its rebirth and the management seem excellent.

One niggle is that deal in the ex-soviet territory (forget where) that was never consummated - is that still alive, waiting resolution of the JV partner's capital re-structuring, or is it now buried. My tidy mind (lol!) rather hopes for the latter, since it was a distraction for me.

sd

stockdog

no mention of KGP deal in the presentation,and no RNS to say not still on but we
should soon know one way or other, because it was put back until late December
due to the restructuring, and would need share holder agreement before EEN can
go ahead if deal still on,so a EGM will have to be announced.

DFGO - welcome your (and others') views whether KPG deal good idea or should be allowed to die a quiet death. I like the purity of concentration on Colombia, esepcially if EEN can take advantage of recent T&A concessions being freed up from the likes of Repsol etc (see CHP thread for more details) - is that in the offing do we think?

sd

Copied from moneyam competitor

I hope no one has already posted this from Saturdays MI:-

Emerald Energy - Oil e&p firm eyes strong production growth
(Momentum Investor) Emerald Energy, which has oil exploration & production interests in Columbia, is quietly developing into a company with realistic pretensions of eventually emulating the success of TMI favourites Burren Energy and Dana Petroleum. In spite of a chequered history, which saw a fire severely curtail its original source of production, Emerald has undergone a remarkable transformation following a management clear-out two years ago. Aided by a rescue financing, the new team has discovered six straight successful wells, which has led to a surge in average daily production from 700 barrels oil per day (bopd) to an expected 6,000 by early next year.

Emeralds main asset is its Campo Rico licence (currently 100% owned, although its government partner, Ecopatrol, has the right to take a 50% working interest), which is situated in the highly productive Lllanos Basin, an area covering 503 km, East of the Columbian capital, Bogota. From its very first attempt in March last year, Emerald discovered commercial quantities of oil and with two follow-on appraisal wells also proving successful, production at this field has already reached 2,800 bopd, which is underpinned by proven and probable reserves of 5.3 million barrels.

However, what made investors really sit up and take notice was the discovery of a second field, Vigia, which is situated 11 km east of the original Campo Rico field. Again, Emerald enjoyed success with two further appraisal wells, which means that once new production facilities are built by the end of this year, Vigias three wells should be pumping out nearly 3,000 bopd, taking group production towards the 6,000 bopd mark. At that point, Emerald is also likely to update investors with a very positive reserves report on Vigia, with pre-drill estimates indicating that it holds 11 million barrels.

Emeralds operational health is mirrored by its strong financial position, with net cash standing at US$17m, while its broker Evolution is forecasting pretax profit to quadruple to US$9.2m this year, before rising again to US$12.3m in 2006. These funds will be invested in an active drilling program over the next 18 months including two further development wells at Campo Rico and Vigia and at least three exploration wells. The most exciting is its Fortuna Association contract in the Middle Magdalena Basin, an area just to the North of three producing fields, which holds potential reserves of up to 30 million barrels in relatively shallow waters, which keeps drilling costs quite low. The first exploration well, Silfide 1, a 10 million barrel prospect costing US$1.6m, is due to be spudded imminently.

Emerald will be more forthcoming on other potential exploration targets once it has acquired and interpreted data from a 3D seismic survey, but suffice to say that it has plenty of irons in the fire. One sign of its increasing ambition is its drawn out attempt to acquire a 25% interest in Russian oil firm JSC Krasnoyarskgasprom (KGP), in return for 12 million Emerald shares. KGP holds interests in Eastern Siberia, with Russian classified reserves of 100m barrels of oil and 2.8 trillion cubic feet of gas, which suggests that if Emerald succeeds, this would go down as one of the deals of the century. However, with AIM-listed oil firm Sibir Energy claiming that its assets were stolen by Roman Abramovics former oil company, Sibneft, Emerald may baulk at the risks of doing business in that part of the world.

With the downside protected by its sharply rising production profile and its upside potential underpinned by its extensive exploration prospects, Emerald could prove to be a star performer over the next two years. Buy.

RNS Number:0971T
Emerald Energy PLC
25 October 2005


Emerald Energy Plc

Drilling Report


Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the
following update:

The Company has drilled Silfide #1 to a measured depth of 5,114 ft. The well has
been logged and potential zones capable of producing oil identified. The Ismocol
drilling rig is now running casing after which the Company will prepare to test
the well.

The Company is currently producing 4,300 barrels of oil per day from the fields
that it operates.

Alastair Beardsall, Emerald's Chairman, said: "The preliminary indication from
the well logs for this 1st well drilled by Emerald on the Fortuna Block is very
encouraging. We are now preparing to test this well and if it demonstrates
viable oil production we shall bring the rig back to drill appraisal and
development wells."


Enquiries: Helen Manning 020 7925 2440



This information is provided by RNS
The company news service from the London Stock Exchange
END
DRLFEDFMLSISEIS

CATEGORY: SMALL CAPS NEWS SECTOR: OIL & GAS
Emerald encouraged by Fortuna well
Tue 25 Oct 2005

EEN - Emerald Energy

Latest Prices
Name Price %
Emerald Energy 181.00p +3.72%

FTSE Fledgling 3,398 0.00%
Oil & Gas 7,025 -0.70%

LONDON (SHARECAST) - Buyers piled into Emerald Energy today after the oil explorer said results from drilling at its first well on the Fortuna block in Colombia are very encouraging.

The preliminary indication from the well logs for this 1st well drilled by Emerald on the Fortuna Block is very encouraging, said chairman Alastair Beardsall.

We are now preparing to test this well and if it demonstrates viable oil production we shall bring the rig back to drill appraisal and development wells.

The company said it is currently producing 4,300 barrels of oil per day from the fields that it operates.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=560539

Emerald Energy

Production June 2004 700bopd, now producing 4,800bopd and a 100% strike rate seven wells from seven drilled since beginning 2004

Emerald Energy PLC
08 November 2005


Emerald Energy Plc

Operations Update

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:

Emeralds first exploration well on the Fortuna block, Silfide #1, has been
drilled to a total depth of 5,114ft and 12ft of net pay identified in the Umir
formation using wireline logs. The well has been cased and a production test has
recovered 38 barrels of 16.2 API gravity oil during swabbing operations, an
artificial lifting technique. The test string has been replaced with a
completion string and the rig is being released. The Company is now evaluating
various artificial lift methods to determine the best one for the well.

The planned expansion of production facilites at Vigia field is progressing and
sufficient capacity is now available to produce both Vigia #1 and #3. Vigia #2
will be tested and put on production when gathering and separation capacity is
available. The Company is now producing oil from 6 wells at a combined rate of
4,800 bopd.

Alastair Beardsall, Emerald's Chairman, said: 'The recovery of oil from Silfide
is encouraging, we are now evaluating the use of artificial lift to develop the
Silfide field.'


Enquiries: Helen Manning 020 7925 2440

Why don't we just agree to use one thread - it's not exactly overburdened with new or informative posts - I'm sick of reading the same post on all three threads.

I nominate the one simply called Emerald Energy- this is the one.

sd

Just a few facts about EMERALD ENERGY

Emerald have added the Silfide Field since the presentation and increased producion to 4,800bopd, And Alastair Beardsall, Emerald's Chairman, said: "The recovery of oil from Silfide is encouraging, we are now evaluating the use of artificial lift to develop the Silfide field."


Alastair Beardsall Chairman & CEO, of EMERALD ENERGY presentation pdf http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf

It's all there

LLANOS AREA ASSETS
Campo Rico Block.
A.Campo Rico field.
B.Vigia field
C.5 Exploration prospects.

Algarrobo block.
Agueda prospect.

TEA's
Mantecal.
Altamira.
Las Brisas.
Cachama.

Campo Rico Field.
A.3 wells drilled and on production.
B.2p Reserves 5.3 mmbbl.
C.3p Reserves 8.5 mmbl.
D.3d seismic survey of 172 km2 being acquired to evaluate new well locations

VIGIA FIELD.
A.Vigia Field 3 production wells drilled.
B.Vigia#1 producing at 700bopd.
C.Vigia#2#3 Ready for production.
D.Constructing surface facilities for greater production rates.
E.Reserves are being independently Evaluated (pre-drill estimate 11 million
barrels
F Further wells planned after 3D seismic survey has been acquired and interpreted.

Matambo Assoc Contract.
A.Giante#1 Currently producing 725bopd.
B.Giante#2 well is being planned for the future.
C.Fram-Out proposal being prepared to share costs($15-$20m)of Seismic acquisition program and Giante#2 drilling costs.
D.2p Reserves 8.0 mmbbl.
E. 3p Reserves 18.2 mmbbl

EL ALGARROBO
Plan to spud Agueda#1 Q1 2006

Fortuna Assoc Contract
A.Silfide#1 Exploration well to Lisama,to Drill in Q4 2005. (Already Spudded)
B.Drill Silfide#2#3 if well #1 successful
C Planning La Luna Horizontal well in 2006.

Recoverable resources as at 31 December 2004 p+p+p/Potential 75.7 mmbbl.

EXIT 2005 (December)target gross production in excess of 5,000.

And lots more.

If the link does not work go to www.emeraldenergy.com under the Emerald Energy
logo click Investers Presentation it's a very good read

Operations Update

RNS Number:7670T
Emerald Energy PLC
08 November 2005


Emerald Energy Plc

Operations Update

Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the
following update:

Emeralds first exploration well on the Fortuna block, Silfide #1, has been
drilled to a total depth of 5,114ft and 12ft of net pay identified in the Umir
formation using wireline logs. The well has been cased and a production test has
recovered 38 barrels of 16.2 API gravity oil during swabbing operations, an
artificial lifting technique. The test string has been replaced with a
completion string and the rig is being released. The Company is now evaluating
various artificial lift methods to determine the best one for the well.

The planned expansion of production facilites at Vigia field is progressing and
sufficient capacity is now available to produce both Vigia #1 and #3. Vigia #2
will be tested and put on production when gathering and separation capacity is
available. The Company is now producing oil from 6 wells at a combined rate of
4,800 bopd.

Alastair Beardsall, Emerald's Chairman, said: "The recovery of oil from Silfide
is encouraging, we are now evaluating the use of artificial lift to develop the
Silfide field."


Enquiries: Helen Manning 020 7925 2440

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Ememerald currently producing oil at combined rate of 4800bopd.

Emerald combined rate will be in excess of 6,400bopd by year end, not Average daily rate.

Giante#1 725bopd
Campo Rico 3,600bopd
Vigia 2,100bopd

Viga#1 well depth 11120ft, Found oil in Une Sands 440 free flow also Gacheta Sand 260bopd free flow.

Vigia#3 11070ft.

Vigia#2 appraisal well was drilled from the Vigia #1 well location and deviated to enter the target oil reservoirs almost 3000 ft to the southwest. The well was drilled to a total depth of 11,680 ft.


The Gacheta Sands Reservoir appears to be in excess of 600ft deep at Vigia #2

But as always do your own research.

Acquisition of 50% of SNG Overseas and Placing announced.

cannot see this is bad news other than the discount to the placing whioch always happens expect recovery of this tomorrow

stockdog

Russian deal aborted, the aquisition very interesting.

Acquisition and Placing

RNS Number:1013U
Emerald Energy PLC
14 November 2005





NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE
UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF IRELAND OR
THE REPUBLIC OF SOUTH AFRICA



EMERALD ENERGY PLC

("Emerald" or the "Company")



Acquisition of 50 per cent. participating interest in Block 26 in Syria
(the "Acquisition")
and
placing of 5,090,000 new ordinary shares of 10p each in the capital
of the Company (the "Placing Shares") at a price of 158p per Placing Share
(the "Placing") raising approximately #8.0 million



Highlights


* Acquisition of 50 per cent. participating interest in the Contract for
the Exploration, Development and Production of Petroleum covering Block 26 in
Syria (the "Block 26 EDP Contract")


* Total consideration for the Acquisition is US$16.9 million, comprised of
US$7.3 million payable in cash on completion and the issuance of 3.5 million
new ordinary shares after 18 months


* A placing of 5,090,000 Placing Shares raising approximately US$13.1
million (net of expenses) to fund the Acquisition and related working capital
requirements of approximately US$5.8 million


* Admission expected to become effective and dealings in the Placing
Shares to commence on 17 November 2005 (the "Admission")


Introduction


Emerald announces that it has entered into a Share Purchase Agreement with
Soyuzneftegas Limited (the "Vendor") to acquire the entire issued share capital
of SNG Overseas Limited ("SNGO"), a special purpose investment vehicle used by
the Vendor to hold and fund its participating interest in the Block 26 EDP
Contract, for a total consideration of approximately US$16.9 million. The
consideration payable comprises:


* a cash payment of US$7.3 million, payable on completion of the transaction,
for the entire issued share capital of SNGO and to settle the
outstanding shareholder loan granted to SNGO by the Vendor; and


* 3.5 million new ordinary shares of 10p each in the capital of the Company to
the Vendor on 18 May 2007, the date falling eighteen months
after completion of the Acquisition, these shares being worth approximately
US$9.6 million at the Placing price.


The gross assets of SNGO, which total approximately US$7.3 million, consist
solely of the investment in the Block 26 EDP Contract; this investment has been
funded by a shareholder loan granted to SNGO by the Vendor. As SNGO is a special
purpose investment vehicle, there are no profits or losses attributable to it.





The Placing


Emerald is raising approximately #7.5 million, net of expenses, (approximately
US$13.1 million at the dollar/sterling exchange rate of 1.7405) through the
placing of 5,090,000 new ordinary shares at 158 pence per share. The net
proceeds of the Placing will be used to fund the US$7.3 million cash
consideration to purchase SNGO and to fund the Company's working capital
requirements in respect to its obligations pursuant to the Block 26 EDP
Contract. Evolution Securities Limited is acting as financial adviser to the
Acquisition and as sole book runner, co-lead manager and underwriter to the
Placing. Haywood Securities (UK) Ltd is acting as co-lead manager to the
Placing.


Application has been made to the UK Listing Authority and to the London Stock
Exchange for the Placing Shares to be admitted to the Official List and to
trading on the London Stock Exchange's market for listed securities
respectively. Admission is expected to become effective and dealings in the
Placing Shares are expected to commence on 17 November 2005.



Information on Block 26


Block 26 covers an area of approximately 11,000 sq km and surrounds existing
discovered oil fields that currently produce over 85,000 bopd. The 20-26 degrees
API gravity crude oil with a high sulphur content that is produced from the
Cretaceous limestone reservoirs in these fields is processed and then
transported through the existing pipeline infrastructure either for domestic
consumption or for export.


Besides the Cretaceous, particularly in the deeper Palaeozoic horizons, there is
further hydrocarbon potential. Several wells have been drilled on Block 26 to
the Palaeozoic, some with indications of hydrocarbon presence, but no commercial
discovery. The leads and prospects currently mapped in the Palaeozoic are larger
than those mapped in the Cretaceous and they are the focus of current technical
studies in the lead up to the drilling campaign.


The rights under the Block 26 EDP Contract include rights under the discovered
fields within Block 26 and undivided rights elsewhere within the block. The
Block 26 EDP Contract also conveys rights of access to and use of existing
production and transportation infrastructure. Block 26 is operated by Gulfsands
Petroleum Plc ("Gulfsands"), an AIM listed company, who, following the
completion of the Acquisition, will continue to own a 50 per cent. participating
interest in the Block 26 EDP Contract. The Government of the Syrian Arab
Republic and the Syrian Petroleum Company are also parties to the Block 26 EDP
Contract.


In the event of commercial discovery, a Syrian operating company is to be formed
to conduct and oversee development and production. The operating company would
be owned as to 50% by the Contractor (defined as the owners of the participating
interest in the Block 26 EDP Contract), and 50% by Syrian Petroleum Company.
Under the terms of the Block 26 EDP Contract, commercial oil production is
allocated first to satisfy the 12.5% royalty, part of the remaining production
is used for cost recovery of the Contractor's investment and the remaining
surplus is shared between the Contractor and Syrian Petroleum Company in various
proportions according to the level of production. If commercial production does
not occur within four years of the discovery with respect to oil, or seven years
with respect to gas, then the development area is to be surrendered.


Under the terms of the Block 26 EDP Contract, the minimum work programme for the
initial phase that must be completed by August 2007 includes the reprocessing of
existing seismic data, the acquisition of at least 500 km of new seismic data
and the drilling of four wells, two of which have to be drilled to test
Palaeozoic reservoirs. Gulfsands is currently acquiring 1,170 km of 2D seismic
and planning the drilling of at least two exploration wells in 2006.


Benefits of the Acquisition


* Emerald has entered into a new geographic area with a partner already
established in country.


* Emerald has gained participation in a block with 27 leads and
prospects at an attractive cost.


* The exploration programme for Block 26 is already underway.


* The risk/reward profile for exploration in Block 26 is similar to that
successfully pursued by Emerald in Colombia.


* Gulfsands, Emerald's partner in Block 26, is an experienced operator.


Update on existing operations and interests


* Colombia


The expansion of production facilities at Vigia is progressing and the Company
continues to produce from 6 wells a gross volume of 4,800 bopd. The Company is
advancing preparations for its 2006 drilling programme and other capital
projects to enhance its operations in Colombia. The Company has recently
announced its third exploration discovery at Silfide #1 and is evaluating
various artificial lifting methods to place this well on test production.


* Russia


On 11 November 2004, the Company announced that it had entered into a
conditional Sale and Purchase Agreement with Star Capital Research Limited to
acquire a 25 per cent. interest in JSC Krasnoyarskgazprom (the
"Krasnoyarskgazprom Agreement"). Subsequently, on 9 March 2005 the Company
announced that it had extended the longstop date for completion to 31 December
2005. However, as the Company has been unable to satisfy itself with regard to
the security of title to the said 25 per cent. interest in the licences
previously announced to be held by JSC Krasnoyarskgazprom, the
Krasnoyarskgazprom Agreement has been terminated.



Commenting on the Acquisition and Placing, Chairman and Chief Executive,
Alastair Beardsall, said:


"The acquisition of 50 per cent. of Block 26 provides Emerald with access to a
portfolio of exploration opportunities to be developed in partnership with
Gulfsands, an experienced E&P operator. A seismic programme to acquire 1,170 km
of 2D data is underway and plans are well advanced to drill two exploration
wells next year. We look forward to being able to deliver value to our
shareholders whilst working with Gulfsands on this exciting project."


Presentation on the Acquisition and Placing


A copy of the presentation entitled "An acquisition for growth" used for the
Placing has been placed on the Company's web site at www.emeraldenergy.com.



14 November 2005



Enquiries:


Emerald Energy plc:


Helen Manning: 020 7925 2440


Evolution Securities Limited:


Chris Sim

Gina Gibson: 020 7071 4300


Haywood Securities (UK) Ltd:


Simon Catt, Investment Adviser, Institutional Sales & Trading: 020 7031 8000



This announcement does not constitute, or form part of, an offer or solicitation
of an offer, to purchase or subscribe for, underwrite or otherwise acquire, any
rights, shares or other securities. Members of the general public are not
eligible to take part in the securities offering. The securities are not and
will not be offered other than to persons who trade or invest in securities in
the conduct of their profession or trade (which includes banks, securities
intermediaries (including dealers and brokers), insurance companies, pension
funds, other institutional investors and commercial enterprises which as an
ancillary activity regularly invest in securities). In the United Kingdom this
announcement is directed exclusively at (a) persons who have professional
experience in matters relating to investments who fall within article 19(5)
(investment professionals) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005) ("the Order") or (b) are persons falling
within article 49(2)(a) to (d) (high net worth companies, unincorporated
associations etc) of the Order or (c) other persons to whom it may be lawfully
directed (all such persons together being referred to as "Relevant Persons").
This announcement must not be acted on or relied on by persons who are not
Relevant Persons. Any investment or investment activity to which this
communication relates is available only to Relevant Persons and will be engaged
in only with Relevant Persons.


The information contained in this announcement is not an offer of securities for
sale or a solicitation of an offer to purchase securities in the United States.
The securities have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended (the "Securities Act"), or with any
securities regulatory authority of any state or other jurisdiction of the United
States and may not be offered, sold or delivered within the United States or to
US persons (as defined in Regulation S) except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws.

A few questions:

1) Why would SNG want to sell a good prospect? (not a loaded question, just plain asking)

2) What were two simultaneous 220,000 buys and then two of 10,000 each doing at 174.5 - 177p doing ahead of the announcement? Did they know in advance? Why didn't they wait till after the anonouncment?

3) Is this a good deal for EEN? I acknowledge it is probably essential for them to diversify outside Colombia sooner rather than later. Any idea of reserves estimated to lie in Block 26?

Any info/views from EEN-watchers would be appreciated as too busy earning a crust currently to DMOR.

Thanks.

sd

Go to the website and read the presentation

http://www.emeraldenergy.com/docs/Presentation-2005-Nov-Aquisition4Growth.pdf

Article worth reading on oilbarrel.com re Emerald/Syria

What is it about this stock today - buys outnumbering sells by about 20:1 and the price moves up 1.5 points

Can anyone shed any light?

Thanks

read some postive coments in shares magazine last week by their 'oil expert' this is the low imho by march will be 250p when results out just a matter of time

that good then i can get my 15k back i bought at 200-240 in april 04 i am hoping for 440 which is only 4.4p before consolidation there oil numbers are growing eVery few months and could be more joint Ventures.

Heading back up - rumours out there??

i was only looking at these today thinking why so cheap they been this price for year where lots of other oils haVe moVed on up they haVe plenty of the good stuf they are a bit of a puzle

Just peeping over the historically significant 185p level - can we hold above there?

Why today?

sd

stockdog, exactly. Ok, so oil is rallying on cold snap in US but perhaps there's final realisation about how well priced this is.

Stockdog, EEN have recently acquired a 50% interest in Block 26 in Syria,
this block is potentially massive, couple that with its Columbian assets which
have been steadly increasing output and they are expected to annouce greater
reserves.
Well worth the time to check out "Investor Presentations" on its web page.
www.emeraldenergy.com.
Could be the market has realised the potential of Syria(gpx is the partner)
or that news of an RNS (which is due) has leaked out?
Its taken a long time and required great patience, but imho this is ready to rumble.
cyril

nice one!

yesterdays afternoon took me by surprise and held onto it today got to 195p today
could touch 200p before any good news kills the price ?? perhaps will get away this time as 6000 bopd on the cards and the revalution of reserves might come out bang on year end ie in few weeks time

something in the air i think also mkt cap abv 100m after recent place so traces may be picking stakes up ?

Nice rise this week and hitting the 2 mark. Good news to follow I think and could mark the start of a new upward trend.

From a list.
FTSE Small Cap inclusions.
B01NJN3 Emerald Energy 100%.
This will have undoubtably helped th SP today.
cyril

Here are some highlights of EEN for newcomers to the share. DYOR:

1) Recently promoted to FTSE small cap index: http://www.ftse.com/tech_notices/2005/q4/FTSE_UK_Review.xls

2) Producing, profitable with net cash on the balance sheet.

3) Increased production and just about doubled production in each of the last 3 half years. Likely to end the year producing 6,000 bpd with likely more to come from the new Silfide #1 well and further drilling in Campo Rico early next year.

4) New management since mid-2003 who are getting on with the job in a steady way, in sharp contrast to the previous management

5) Drilled 6 wells this year and struck commercial oil in each and every one of them

6) 3P resources of c.26m barrels. Potential of a further 49m bbl. Excluded from these numbers are the potential resources from their Gigante field which was assessed by Schlumberger to contain >900m barrels of oil in place (this will factor down to say 80-300m barrels of recoverable oil). Gigante is currently producing around 725 bpd. http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf and http://www.emeraldenergy.com/docs/f_interim_97.htm

7) Recently done a deal with Gulfsands Petroleum to partner in exploring Block 26 in Syria. Gulfsands is doing seismic investigation as we speak, and early indications are that there might be 1bn barrels of recoverable oil. http://www.emeraldenergy.com/docs/Presentation-2005-Nov-Aquisition4Growth.pdf

8) At a recent oil barrel conference, Gulfsands showed their estimates of the prospectivity of the Block. This showed potential resources of >1bn barrels. EEN would have a share of 25% of this. Thats around 4 barrels for each EEN share. http://www.oil-barrel.com/conference/nov/gulfsands.pdf

9) They also hold Technical Evaluation Agreements for more areas of Columbia, that could well prove up.

6000 bpd by end 2005 and possible 10000bpd by end 2006 could mean a share price of between 1000p and 3000p with a 18 month time frame ie a possible 2000 billion company..is this achievable..?

im hopeing for 450-650 if we getsome good results with gulfsands. een are looking outside columbia for new prospect, its a Very exspensiVe time to buy into new acreage ,they may be able to get some of Vog,s action cheap.

Good strong open, with 2 clearly broken, looking for gains to 2.50 initially.

any chartist out there can see 250p but uncharted terrotory after than

mitzy getting carried away a bit ? when do you get your ratio's from ?

Hi gordon.
Been in since Sept and great to see the sp responding in a positive way.. just trying to think ahead where the price will be in 12 months time and the Syria deal looks like it may be the saviour for Emerald .I will be happy with 300-400p in 12 months.

mitzy
copies of my post on adxvn

DFGO - 14 Dec'05 - 18:29 - 4703 of 4713 edit


tone

Just read your post 4568 ref output for year end, daily not AVERAGE

CR#1#2#3 combine output 4,000bopd, imo CR#1 output will be reduced from 1,800bopd to protect the reservoir, the combined output will still increase over a period of time to about 4,650bopd combined output but could decrease when CR#4 put into production.

Vigia#1#2#3 combined output at year end provide facilities completed 2,100bopd, imo the combined output will increase substantially by over the next 6 months to somewhere between 5,000 to 7,000bopd combined rate and could be more.

Giante#1 725bopd

My estimated daily output not Average for year end 6,825bopd provided Vigia
falcilties completed.



DFGO - 14 Dec'05 - 23:00 - 4712 of 4713 edit


tone

My estimated for 2006 year 14,725bopd including CR#4 V#4 but not silfide#1

CR#1#2#3 combine output 4,200bopd
Vigia#1#2#3 combined output 6,300bopd
Giante#1 725bopd
CR#4 V#4 combined output 3,500bopd these are development wells

The reason CR#1#2#3 and V#1#2#3 bopd figures are reduced from previous post
is to allow for protecting the stability of the reservoir.

I'm sure vavooom2 will explain the technical reasons and possibly say if my figures are to high for CR#1#2#3 and V#1#2#3 and are likely to damage the reservoir?.

Plus Silfide 250 - 500bopd
Plus Agueda#1 if successful
Plus Silfide #2#3 If successful
Plus Totumal La Luna Horzontal If Successful
Plus 3 Campo Rico exploration wells
plus Vigia sur-1 this is a A1 well which i believe to be a appraisal/development well so would expect it to produce oil

Campo Rico#1 and Vigia#1 was A3 Exploration wells, CR#1#2#3#4 and V#1#2#3#4 all A1 appraisal/development wells

I also believe should thy be successful with Agueda#1 and it's light oil
will drill more wells there in 2006 directionaly

but as always dyor

mitzy
copies of post adxvn

DFGO - 14 Dec'05 - 18:29 - 4703 of 4713 edit


tone

Just read your post 4568 ref output for year end, daily not AVERAGE

CR#1#2#3 combine output 4,000bopd, imo CR#1 output will be reduced from 1,800bopd to protect the reservoir, the combined output will still increase over a period of time to about 4,650bopd combined output but could decrease when CR#4 put into production.

Vigia#1#2#3 combined output at year end provide facilities completed 2,100bopd, imo the combined output will increase substantially by over the next 6 months to somewhere between 5,000 to 7,000bopd combined rate and could be more.

Giante#1 725bopd

My estimated daily output not Average for year end 6,825bopd provided Vigia
falcilties completed.



DFGO - 14 Dec'05 - 23:00 - 4712 of 4713 edit


tone

My estimated for 2006 year 14,725bopd including CR#4 V#4 but not silfide#1

CR#1#2#3 combine output 4,200bopd
Vigia#1#2#3 combined output 6,300bopd
Giante#1 725bopd
CR#4 V#4 combined output 3,500bopd these are development wells

The reason CR#1#2#3 and V#1#2#3 bopd figures are reduced from previous post
is to allow for protecting the stability of the reservoir.

I'm sure vavooom2 will explain the technical reasons and possibly say if my figures are to high for CR#1#2#3 and V#1#2#3 and are likely to damage the
reservoir?.

Plus Silfide 250 - 500bopd
Plus Agueda#1 if successful
Plus Silfide #2#3 If successful
Plus Totumal La Luna Horzontal If Successful
Plus 3 Campo Rico exploration wells
plus Vigia sur-1 this is a A1 well which i believe to be a appraisal/development well so would expect it to produce oil

Campo Rico#1 and Vigia#1 was A3 Exploration wells, CR#1#2#3#4 and V#1#2#3#4 all A1 appraisal/development wells

I also believe should thy be successful with Agueda#1 and it's light oil
will drill more wells there in 2006 directionaly

but as always dyor

,

.

this is a dog...69p in 2006

Then sell it and short it then.

seems to be holding on to this level needs the production news b4 end of year imho to maintain momentum else it will slip back if nothing herd bymid jan

I know I can rely on Pizza. He is so perceptive. It will rise by 69p (or more)in one day in 2006.

Meanwhile it has taken nearly 2 months to do that (or 62p:-) from 19th October 2005 . Of course a 62p rise from 155p is much more in % terms than 69p from 4.. but Pizza already knows it is going over 4.. He's just deramping so he can buy more shares more cheaply.

It is a dog: a pedigree grayhound.....

EEN is a pedigree shit..best short of 2006

Go ahead: short it. Try 1000 per point. We will not regret it.:-) You will.

madasafish,

Why not enable the email facility here?

It does not display your private details, it just sends it through to your normal email address.


Alternatively you can send me your email address via the PM system by clicking on the yellow envelope next to my name.


Would like to ask you a question.

Andy. (ex iii )

I think you're on the wrong thread Pizzagod!

HAS ANYONE READ THE RECENT EVO REPORT ??? HAS A RISKED INDEXED TARGET OF 305P TO INCLUDE SYRIA AQUISTION

where did the spread go now 217.5-218 lowest ever does this mean something going on as the Selling price is clearly up today by default big days volume again
slighly more buys than sells

this means EEN is a dog and worth shorting

And PIZZADOG would know

I fully expect the distinctive smell of burnt pizza to dominate my olfactory organs within the next 3 months.

He's burnt already - holds PRE.

Why he should suddenly attack another stock in the fashion he has I cant fathom.

Not so bright when bad tidings were around the corner for PRE.

A real Teeling fan with nowt to shout about.

As I said, PIZZADOG is a better name.

oh dear oh dear oh dear... ringo tart is another EEN the dog suffering shareholder

I think he's posted against EEN in order to underline the fact that he is an idiot.

I know i posted against EEN in order to confirm the fact that EEN is a dog

Pizzagod, pizzadog, pizzabadnews, pizzash*t - astounded by the depth of your factual research and analysis. Congratulations.

Stock God

Up it goes - Pizzadog the reverse indicator!

Up another 4p yesterday and next year I reckon 240p in the first three months..

up another 4p yesterday and now ready for the short of the year....69p in 2006

Good luck PIZZADOG, as always you will need it.

350 target for dec 2006 watch this space when the news re reserves and new production out could be well received and could give it 15-20% lift in my opinion
as more investers much more positive about een

69p by mid-2006

Totally agree Gordon G. Looking for promising 1st Q and more newsflow.

Go ahead and short,put ina hundred grand,if you are so sure,p/god.

expect some news re vigia this week if there is a prolonged delay it might just fall back anyone read the evo report cannot remeber them saying it will fall 75% in 2006 perhaps i missed that perhaps some substance to your postings might be usefull otherwise find somewhere else

69p

pizza i dont think you have many followers perhaps a better short might be pdx

pizzaod 69p what is you basis for this figur?

he has no figures just losing a short bet i imagine

there's no basis for that figure but it's a nice sex number

69p

so dont waste our time anymore

evo had valuation inc syria of 350p thats a prety sexy number hope for more brokers reports as its get past the 100m and has few institutions on baord

bye pizzagod .............

well said gg. Tend to agree a few more will sit up as market cap is now 108.4 - my latest Reuters update.

this is the best time to short this dog IMHO DYOR

We have done our own research and I'm nicely up thank you. And we're not interested in your opinion pizza

nice to see it get above the 200p mark could quietly climb imho as seems to have a bit of monentum need some more exposure in press to give it more visibility
shares magazine more posuitive and IC tipped it but it doesnt get mentioned very often

I'm happy for it to keep edging higher before the masses comes along. I want to hold this medium/long term as I think we should be then a lot higher.

I'm happy for it to keep edging higher before the masses comes along. I want to hold this medium/long term as I think we should be then a lot higher.

This could help the cause re Syria:-

http://www.oilbarrel.com/home.html

good reading - thanks greyhound

100m (spud May 2006) + 500m (spud August 2006) barrels valued @ $5 (??) per barrel in the ground gives a 50% share to Emerald valued at $1.5bn = 850m = 14+ per share!

At one seventh the volume the SP could double.

I'm holding tight to see what this year brings.

sd

stockdog, I like your calcs!

69p this year

No Pizzagod - this year's 2006 - keep up!

sd

Stockdog i think you will find they get 50% of 50%.
50% to the Syrian Petroleum Co. The other 50%
between EEN and GPX.
You'll find referance in the RNS 14 Nov.
Nice tick up at the close today.
cyril

Dog

69p this year then?

Remember Pizza, we are now in the year of the Dog.

Beware of the Dog!

Oh dear pizza - you really do look a fool now.

But why the hate?

If its a dog may i suggest a Greyhound.
cyril

Indeed!

every dog has his day

sd

wough wough..!

I'd have thought we would have seen this heading higher on the gas potential in Syria.

EEN has a history of the SP falling back after good rises and generally giving the performance of a rather nervous thoroughbred - hopefully a good strike in Syria will give their earnings the breadth they lack as a one-horse op in Columbia.

On another thread CHP (also in Columbia) are getting ready for lift off, so there may be some positive spin off on EEN's SP from that.

Every bit helps.

sd

GED also in columbia and have higher valuation that EEN

Evo ups target to 4.50

Another nice rise this morning, perhaps this trend can continue for a while!

Still another 2.00 to go to hit Evo's target! I anticipate a roller-coaster ride before hitting that dizzy height, so hang on tight.

sd

can see it hold onto the 250p level today as in uncharter terrotory 300p must be the next lot of resistance

IC tipped it last year so lets hope they write a lot about it this week exepct shares mag to come out and tip it when they wouldnt go near it at 140p

4.50 here we come lets hope for bigger volume tommorrow as everyone sitting tight on this stock MM might have to do some work

I believe it's tipped in the Times today.

From another board, a poster gives the thread for the evo report but needed
to register.
It states a Target of 4.50p but goes on to say, that the unrisked potential
of Tigris could be a SP of 12.And of course this is only one part of Block26.
cyril

can you post the words from the times?

http://www.timesonline.co.uk/article/0,,748-2017105,00.html

The article mentioned the target has been risen to 450p. And more good news. Read it.
Thanks, Greyhound.

69p

The Times January 31, 2006


Smaller stock to watch


Emerald Energy leapt 18p to 220p as a positive update from its Syrian field prompted Evolution Securities to raise its price target from 250p to 450p. A report by Ryder Scott, the independent energy consultants, indicates that the companys Tigris prospect, which will be drilled in August, has probable reserves of 74 million barrels of oil equivalent (boe), with total potential of 722 million boe. Evolution said that success at Tigris, in which Emerald has a 50 per cent interest, would transform the companys reserve base. Emerald is due to drill shallower prospects in Syria in May.

I see there's an annoucement that L&G have a holding of 3.03%. I've been checking my screens to see what their previous holding was but am unable to find anything that recent - so perhaps it's a new holding, although it seems too high. Price probably picking up on the back of this.

Probably first mention because they recently passed the 3% reporting threshold.

Thanks stockdog, fair point, seems entirely reasonable.

What ashare,bought first block at 0.5p.,was there a 100/1 consoln. along the way,up over 100 per cent all in,any views,Syria block will make EEN bigtime.

if oil-bearing which seems hopeful, but not yet likely - on a rough scale of optimism! I'm in.

mbugger

Yes 100 to 1 consolidation 31 August 2004

sudden surge

nice increase today

This is picking up again - perhaps finally heading for the 300/400p range.

Lets hope so, as i said if its a dog,"its a greyhound".
lol
cyril

or perhaps a tenacious stocky dog!

sd

All well behaved dogs welcome!! Heading up more sharply now.

Yeah...264p and more to come

It's very much a Colombian theme. CDS up 15% and CHP now turning positive, so they're all heading higher now.

its off again something has got to be in the air its the same old MM that held it back before and played games with a big spread

What price if Giante#1a after workover comes back anywhere near original production rate of 4300bopd

Drilling Report

RNS Number:4539V
Emerald Energy PLC
8 December 2000




Emerald Energy Plc

Increased production at Gigante#1A


Following the installation of an Electric Submersible Pump in the Gigante#1A
well in the Upper Magdalena Valley, Colombia, production has been
re-established at 4,300 barrels of oil per day with the pump still operating
significantly below capacity.


The well is continuing to clean up and the natural flow, without the pump, has
improved to 3,100 bopd which is comparable to the original flow rate when the
well was first drilled in November 1998.

8th December 2000

DFGO - too eliptical and too long ago for me. Remind me what is the current state of affairs on Gigante#1A and what the last announcement said.

sd

stockdog

They are replacing production tubing and fitting new pump.

Pumps have been replaced before but never the production tubing.


Emerald Energy PLC
12 January 2006


Emerald Energy Plc

FOR IMMEDIATE RELEASE 12 January 2006

Operations Update - Colombia


Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:


Campo Rico Block


The 172 sq km of 3D seismic acquired on the Campo Rico block is currently
undergoing enhanced processing. To date, it has been used to evaluate potential
drilling locations for both exploration and development wells and the first
exploration well, Centauro South No.1, will be drilled in the first quarter of
2006.


Campo Rico Field


The Campo Rico No.1, 2 and 3 wells are currently producing at an aggregate rate
of 3,170 bopd. Once the final interpretation of the 3D seismic is completed, the
option to drill Campo Rico No.4 for better drainage of the reservoir will be
evaluated. If necessary, the well will be drilled later in 2006.


Ecopetrol has advised the Company that it has granted commercial status to the
Campo Rico field and exercised its right to back-in for 50% of the discovery.
Under the terms of the Campo Rico Association Contract, Ecopetrol will now
receive 50% of the production after the deduction of 8% royalty oil and will
reimburse Emerald for 50% of the costs.


Vigia Field


The construction of early production facilities at the Vigia field is now
completed and the Vigia No.1 and No. 3 wells are currently producing 1,095 bopd.
The testing and production start-up of the Vigia No.2 well has been delayed due
to technical problems with the well. A workover rig will be contracted by the
end of this quarter to re-enter this well for remedial work.


Drilling the Vigia No.4 well is planned for the second quarter of 2006, with
Vigia No.5 to follow later in the year, should seismic interpretation and
reservoir modelling indicate the requirement for another well.


Emerald's in-house estimate for the Vigia field reserves, excluding the
potential of the Vigia No.2 drainage area, is 3 mmbbl for proven and probable
reserves and 6 mmbbl for proven, probable and possible reserves. It is
anticipated that, following the flow test results from the Vigia No.2 well and
completion of the enhanced processing of the 3D seismic data, the independent
reserve report for Vigia will be completed in time for the announcement of 2005
preliminary results.


Emerald has presented its application for commercial status of the Vigia
discovery to Ecopetrol and is currently awaiting its response.


El Algarrobo Block (Operated by Rancho Hermoso)


It is anticipated that drilling of the exploration well Agueda No.1 will
commence in February 2006.






Gigante Field


The Gigante No.1A well is currently being produced at a restricted rate of 500
bopd. After 5 years of operation and 2 million barrels of oil produced, the
production tubing requires replacement. A rig is being mobilised to the well
site and the workover is expected to commence within five days. During the
workover, a larger capacity pump (ESP) will be installed to evaluate the
feasibility of increasing production from the well.

.

een up 4.5p nice steady rise a lot of news due

copied this from a moneyam competitors bb

stevea171 - 24 Feb'06 - 12:50 - 9854 of 9872


Repeat of recent, 30/1/06, Emerald house broker (Evo) buy summary:

Evolution Lifts Emerald Energy Target Price

Evolution Securities near doubles Emerald Energy's (EEN.LN) target to 450p from 250p. Says reserve base could be transformed by news the Tigris prospect has probable reserves of 74M barrels of oil equivalent. "We conclude that the risk of success of the Tigris drilling is greatly improved by this study from 1 in 7 to 1 in 2," it says. "This is low risk." Maintains buy rating.

Here's a summary of the text from Evolutions Broker Report . . .

Syria major Palaeozoic potential

Ryder Scott has indicated that the Tigris prospect to be drilled in August
already has probable reserves of some 74m boe, with total potential of
722m boe. This low-risk well could transform EENs reserve base.

Analysis of drilling record and wireline logs of six previous wells in the Palaeozoic reservoirs in Block 26 in Syria indicate that three encountered potentially commercial hydrocarbons.

The largest of these is the Tigris prospect- located beneath the giant Souedieh field. Ryder Scott has prepared an independent study of the gross recoverable reserves using reprocessed wireline logs from a well drilled in 1994, and data from an existing 3D seismic survey. The well tested gas from the upper of nine potentially productive zones in the Palaeozoic. Ryder Scott has insufficient data to establish whether the total hydrocarbons in the structure are gas or oil and has produced two reserve cases:

Gas - 442 bcf probable reserve (73.6m boe) and a total probable, possible and prospective resource of up to 4,330bcf gas (722m boe equivalent).

Oil - 104m bbl and 64 bcf as possible and total possible and prospective resource of 563m boe equivalent.
In each case EEN would have 50% interest.

We conclude that the risk of success of the Tigris drilling is greatly improved by this study from 1 in 7 to 1 in 2. This is low risk. The Tigris structure is to be drilled in August 2006. A success would transform the EEN reserve base.

The risked value of the Tigris structure resource to EEN is 258p/share (65p probable reserves risked at 1 in 2 and 193p/share for possible and potential resource risked at 1 in 7). The unrisked potential of Tigris alone is over 1200p (!), and the block contains another 26 prospects, which we have not included in our NAV. Some of these shallower Cretaceous prospects will be drilled first (May 2006), due to rig availability.

Management are keen to focus on the potential of Syria, and this Ryder Scott study should certainly do that. We increase our price target to 450p from 250p to reflected the probable reserves and lowering of risk.

EEN gained 19.5p last week

DFGO;
Have held these for best part of 2 year's,it's been a frustrating at times.
Always flattering to decieve, but i now firmly believe that the news flow
in the coming months from Columbia along with Syria will make it all
worthwhile.
cyril

niceonecyril

I Have held since 1999

.

no body intrested in EMERALD ENERGY

I am :-)

Highly interested, DFGO, especially the wiggly line tracing northwards across the chart currently. EVO reckon 450p - that would be nice!

sd

My target is 7 and I think Syria has made the timeline shorter.

See you at the 5 party!

Me too.
cyril

Wish I could be there but I'll celebrate here

Please no! That reminds me of all the rampers talking about a 5 party for PRM when it was about 2, it's about 60p now. Having said that, EEN is a different class of investment in that it actually produces saleable product.

Steady as she goes and I'm sure EEN will get there but please, no talk of 5 parties. It puts a bad eye on things.

Be fair, Ferisc, it was you who mentioned 7!

stockdog/ferris/niceonecyril

This part of the EVO note interesting, the unrisked potential of Tigris alone is over 1200p

The risked value of the Tigris structure resource to EEN is 258p/share (65p probable reserves risked at 1 in 2 and 193p/share for possible and potential resource risked at 1 in 7). The unrisked potential of Tigris alone is over 1200p (!), and the block contains another 26 prospects, which we have not included in our NAV. Some of these shallower Cretaceous prospects will be drilled first (May 2006), due to rig availability.

The first well to be spud in Syria the Souedieh North on or about 1st of MAY 2006

The first prospect to be drilled is known as Souedieh North and is located in
the northeast region of Block 26. This vertical well will be drilled to an
approximate total depth of 7,216 feet with the primary objective being
Cretaceous aged reservoirs similar to those producing in the adjacent Souedieh
and Karachok oil fields. This prospect has the potential to contain in excess
of 100 million barrels of recoverable oil (Gulfsands' internal estimate of
potential). We expect that the spud date for this well will occur on or about
the first of May 2006.

but as always dyor.

It was also interesting to read Momentum Investor this month, where their lead was Gulfsands, They believe the Syria aspect (where they have the 50/50 partnership with EEN) has massive upside potential. I'm not quite sure why they dropped EEN in favour of Gulfsands, other than their interpretation of EEN's last statement and drop of production wasn't favourable. I think we're in for a good ride on this one now.

Greyhound

Momentum Investor tipped buy Emerald, just prior to gulfsands announcement they advised to sell Emerald, if i had bought I would not have been to happy with that advice so thats possibily why Emerald not mentioned

DFGO, absolutely! Funny how they don't now mention it, meanwhile their partner is the business.

Stockdog, I mentioned a price but not a hoodoo party ;-)

Ferrisc - fair enough. If it's a price and not a party it's bound to come true! My silly mistake.

LOL! Just had a cold shiver when I read 5 party that's all. I connect it with the dreamers and rampers on PRM on a competitor site and genuinely believe that EEN will get to, and above, my target in its own time. It's not a perfect company but in comparison to PRM it's as near as. Just need AB to put out a nice RNS every now and again but preferably after he has attended the ' how to write an honest RNS without making good news sound bad' course.

No offence intended.

Ferrisc.

EEN is certainly alot better than many dreamer's shares - good strong growing cashflow, now delveoped interesting geographical spread, good management who have recovered from a nasty episode 2 (?) years back when they had a fire in Colombia. Onwards and upwards.

sd

There is a completely new management team in place from that which had the Gigante blowout and they have been in position for 3 years now iirc.

quite here

Good Morning

Taken out a modest holding in Emerald recently, as I believe that this comapny could be as much as 2.00 under valued. Have concerns due to the managements past record, but think the risk reward basis is worth it currently. Wait with interest the next RNS as this will be an indicator of future prospects in my eyes.

Prospector

Management past record? Care to explain or are you a little short on your research?

Ferrisc - seems like you may be in a position to enlighten us - why not give it a go? Welcome, Prospector.

sd

Have a look at 212. 7 successful wells out of 7 since then is not a bad track record imo.

Drills, not wells.

Got first batch at 0.5p.,now going well,right on dfgo

Nice bounch today when I checked this morning they where slightly off Friday's closed but pleased to see a healthy gain come the close of business.

Giante#1A now producing in excess 800bopd,Giante bopd will increase considerably
over the 6 to 8 months

Aqueda1 has reached total depth of 9,980 ft. The well has been logged and the rig is preparing to run and cement the final casing string. The well will then be perforated and flow tested.

The November 04 El Algarrobo Farm-In RNS
The El Algarrobo prospect lies approximately 35 km NW of Emerald's Campo Rico
oilfield in the Llanos Basin of Colombia and about 5 km NW of the Rancho Hermoso
oilfield, which produces light oil of 37 degrees API at individual well rates of up to 2,500 barrels per day.


Centauro Sur No.1 spudded
Pride Rig No 14 commenced drilling the Centauro Sur No.1 exploration well on 14 March 2006.

Vigia#2 The remedial work on Vigia#2 is now complete and the well is producing 200

Emerald output from 1/1/06 to 16/1/06 4,362bopd + Giante#1 800bopd + V#2 =
5,362bopd.

16 March 2006


Emerald Energy Plc

FOR IMMEDIATE RELEASE 16 March 2006

Operations Update - Colombia

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:

Reserves

The interpretation of 3D seismic data acquired in 2005 is now complete; the
Vigia structure is now mapped as two separate accumulations and the 3 wells
drilled on Vigia have all penetrated the northern high, the Vigia field. RPS
Energy, an independent consultancy specialising in petroleum reservoir
evaluation, has completed a reserves and resources evaluation for the Vigia
structures and reports that as at 1 January 2006, the Vigia field contained
Proved plus Probable reserves of 2.4 million barrels of oil. According to RPS
Energy, Proved plus Probable plus Possible reserves of the Vigia field are 4.9
million barrels of oil. In addition, RPS Energy reports the as yet un-drilled
southern structure may contain prospective resources of up to 4.6 million
barrels of oil.

As at 1 January 2006, the combined Proved plus Probable reserves of the Gigante,
Campo Rico and Vigia fields were 14.5 million barrels of oil (as derived from
RPS Energy's 2005 reserves report for Gigante and Campo Rico and 2006 reserves
report for Vigia, and adjusted for 2006 production). On the same basis, the
combined Proved plus Probable plus Possible reserves of these three fields were
30.3 million barrels of oil.

Exploration

Centauro Sur prospect:

The Centauro Sur prospect is located to the south of the Campo Rico field. Pride
Rig No 14 commenced drilling the Centauro Sur No.1 exploration well on 14 March
2006.

El Algarrobo block (operated by Rancho Hermoso):

The exploration well Agueda No.1, drilled by Saxon Rig No 223, has reached a
total depth of 9,980 ft. The well has been logged and the rig is preparing to
run and cement the final casing string. The well will then be perforated and
flow tested.

Production

The workover of the Gigante No.1A well to replace the tubing and install an
electrical submersible pump (ESP) is now complete. The well is currently
producing in excess of 800 bopd. The lifting rate of the ESP is being increased
gradually to optimise the production rate.

The remedial work on Vigia No.2 is now complete and the well is producing 200
barrel of oil per day (bopd) from the Une formation.

In the period from 1 January 2006 to date, daily gross production averaged 4,362
bopd. Temporary flattening of production growth has been caused by reduced
production at the Gigante field in the run-up to the workover and by failures of
surface hydraulic pumps operated in the Campo Rico and Vigia fields. Gigante
No.1A is now back on production and new, larger, surface hydraulic pumps have
been purchased for the Campo Rico and Vigia fields.

Alastair Beardsall, Emerald's Chairman, said:
'We are confident that focussed efforts in 2006 will contribute to maintaining
growth in our Colombian operations.'

Enquiries: Helen Manning 020 7925 2440

EEN have excellent oil prodn. at5360 bopd at current rate,this s.p.should be higher,look at other oil cos.who are not near drilling ,never mind oil prdn.,right on dfgo.

Looks like this is about to hit lower resisistance, any comments welcome as I'm thinking of buying, cheers Rob

rob
I made support at 245 now at 235 I am going to wait for it to turn upward past 240 then go in.

thanks jimward, thats pretty much what im waiting for, will be interesting to see how it finishes the day, pending the yanks of course, rob

I don't think 240p is high enough for a safe buy signal.

We have a classic head & shoulders formation with peak at 280 and intertroughs at 245 - range 35p. If we fall through the 235p early Feb good support and more recent weak support, we will drop back by 35p below 245 to 210p the Dec/Jan support level and bottom of the late Jan gap-up.

I do hope we won't, but I would not be seeing safe upward progression until we have cleared at least the 250p Jan/Feb resistance with the 25dma again moving upwards. Even then there are the two successive resistance levels of 270p and 280p to clear before we resume our celestial path to the stars and the mooted 450p.

WDIK

sd

12/1/06 update

Gigante Field
The Gigante No.1A well is currently being produced at a restricted rate of 500
bopd. After 5 years of operation and 2 million barrels of oil produced, the
production tubing requires replacement. A rig is being mobilised to the well
site and the workover is expected to commence within five days. During the
workover, a larger capacity pump (ESP) will be installed to evaluate the
feasibility of increasing production from the well.

Total gross production for 2005 was 1.2 million bbl (2004: 0.5 million bbl);
average daily production for 2005 was 3,304 bopd (2004: 1,322 bopd). In the
fourth quarter of 2005, Emerald achieved an average daily rate of 4,451 bopd (Q4
2004: 1,971 bopd). During eight days in the fourth quarter of 2005, production
exceeded 5,000 bopd.
Currently, with reduced production from Gigante No.1A and Vigia No.2 shut-in, production is 4,750 bopd.

EMERALD
Were producing 4,750 bopd including 500bopd from Giante#1A but nothing
from Vigia#2

16/3/06 update
Production

The workover of the Gigante No.1A well to replace the tubing and install an
electrical submersible pump (ESP) is now complete. The well is currently
producing in excess of 800 bopd. The lifting rate of the ESP is being increased
gradually to optimise the production rate.

The remedial work on Vigia No.2 is now complete and the well is producing 200
barrel of oil per day (bopd) from the Une formation.

In the period from 1 January 2006 to date, daily gross production averaged 4,362 bopd. Temporary flattening of production growth has been caused by reduced production at the Gigante field in the run-up to the workover and by failures of surface hydraulic pumps operated in the Campo Rico and Vigia fields. Gigante No.1A is now back on production and new, larger, surface hydraulic pumps have been purchased for the Campo Rico and Vigia fields.

EMERALD.
In the fourth quarter of 2005, Emerald achieved an average daily rate of 4,451 bopd (Q4

In the period from 1 January 2006 to date,[16/3/06] daily gross production averaged 4,362.

4,451bopd - 4,362bopd = 89bopd down on the Q4 2005 average daily rate at the 16/3/06.

12/1/06
Currently, with reduced production from Gigante No.1A and Vigia No.2 shut-in, production is 4,750 bopd.
Emerald were producing 4,750 bopd including 500bopd from Giante#1A but nothing
from Vigia#2

16/3/06
4,750bopd + 200bopd from Vigia#2 + 300bopd from Giante#1A = 5,250bopd

In 2005 Emerald produced 1.2 million bbl @ 3,304 bopd average daily production.

1.2mill bbl divide 3,304bopd = 363days.

At a daily average of 5,250bopd x 363 = 1,905,750bbl per year a 37% increase
in production over 2005

1,905,750 divide x 6 wells = 317,625 barrels per well a year divide 363 days
875bopd so 1,905,750 bbl,37% increase very low figure for 2006 production.

My Estimated production for 2006 from the 7 producing wells
Giante#1 1000bopd x 363 days = 363,000 barrels per year
Vigia#1#2#3Total output 3000bopd x 363 days 1,089,000 barrels per year
Campo Rico#1#2#3 total output 4000bopd x 363 days 1,425,000bbl per year

Silfide 40bopd x 363 days = 14,520bbl per year

production for 2006 2,891,520bbl from 7 wells

A increase off 1,691,000bll over 2005 from the 7 wells producing,And imo my ESTIMATED bopd are on the low side, plus any new producing wells drilled in 2006.

but as always dyor

Strange run of 5,000 lot trades today, strannge to me any way .. can anybody explain??????/ thanks, Rob

up 15.25p today

From Emerald website www.emeraldenergy.com

http://www.emeraldenergy.com/OnP-Syria.htm

Operations & Production
SYRIA
Emerald, though its 100% owned subsidiary SNG Overseas Ltd, holds a 50% working interest in Block 26. Gulfsands Petroleum Ltd is operator and holder of the remaining 50% interest. The Block is located in northeast Syria and covers approximately 11,000 square kilometres. The rights to explore for, develop and produce oil and gas are granted under a contract with production sharing terms (PSA).

Within Block 26 boundary there are several discovered fields owned and operated by Syrian Petroleum Company (SPC) where current production is over 100,000 barrels of oil per day. Included in these SPC fields is Souedieh which is the largest oil field in Syria. These fields produce medium gravity oil from Cretaceous limestone reservoirs. The oil is transported via existing infrastructure for domestic refining or export; produced gas is treated locally and used as fuel for local needs and power generation

The rights to these existing discovered Cretaceous fields are excluded from the PSA for Block 26. The PSA does grant the right to explore for new Cretaceous fields and all the deeper rights within Block 26 boundary where there is significant potential for hydrocarbons in Palaeozoic reservoirs.

A portfolio of 31 prospects and leads has been identified with total mean potential in both Cretaceous and Palaeozoic reservoirs of more than 1 billion barrels of recoverable oil. Plans are progressing to drill a minimum of two exploration wells this year, initially to test a Cretaceous prospect on the flank of the Souedieh field (Souedieh North prospect) and a deep Palaeozoic target underlying the Souedieh field (Tigris Prospect).

Emerald announced in January 2006 the results of an independent reserves study by Rider Scott Company on the Tigris prospect based on the results on a previous well drilled by SPC to test the deep potential below the Souedieh field. There is insufficient data to identify whether the potential is primarily for oil or for gas, and Rider Scott therefore developed two cases involving recoverable Probable and Possible Reserves and Prospective Resources as follows:

Either

For a gas accumulation, Rider Scott classified 442 billion cubic feet of gas (bcf) as Probable Reserves, 442 bcf as Possible Reserves, and an additional 3,447 bcf as a Prospective Resource, giving a total Probable, Possible and Prospective Resource of 4,330 bcf (equivalent to 722 million barrels of oil equivalent (mmboe)
Or
For an oil accumulation, Rider Scott classified 104 million barrels of oil (mmbbl) and 64 bcf as Possible Reserves and an additional 408 mmbbl and 245 bcf as an Prospective Resource, giving a total Possible and Prospective Resource of 512 mmbbl plus 308 bcf (equivalent to 563 mmboe)




Onshore Syria Block 26, Activity Map
Onshore Syria - Block 26, Geoseismic Line: Souedieh Field and Deep Palaeozoic Prospect


Onshore Syria - Block 26, Geoseismic Line: Souedieh Field and North Souedieh Prospect

16/3/06

Centauro Sur prospect:

The Centauro Sur prospect is located to the south of the Campo Rico field. Pride
Rig No 14 commenced drilling the Centauro Sur No.1 exploration well on 14 March
2006.

28/3/06
Centauro Sur prospect:

Pride Rig 14, drilling the Centauro Sur No.1 exploration well, is currently
drilling ahead at 7,401ft.


Not far from target now imo

28/3/06
Saxon Rig 223 is now moving to the Campo Rico block to drill the Las Acacias prospect located south west of the Vigia field.

EEN have an RNS out today, news of drilling rig contracts. The 1st to start
drilling early May, and the 2nd to drill the deeper well in August.
cyril

EEN+
Gulfsands Petroleum PLC
04 April 2006

4 April 2006

Gulfsands Petroleum PLC
('Gulfsands' or 'the Group')

Gulfsands Signs Rig Contracts for Block 26, Syria

First Exploration Well Expected to Spud by May 2006

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
announced today that the Company has executed definitive agreements for the
drilling of three exploration wells with the option to drill a further two wells
within Block 26, Syria.

Gulfsands, the operator and 50% working interest owner in Block 26, has taken
assignment under an existing contract from another operator in Syria, for a
drilling rig owned and operated by Crosco, a drilling company based in Croatia.
Gulfsands will use this rig to drill and evaluate the Souedieh North well
commencing in late April or early May 2006 with the option to drill another well
within the block under this same agreement. Furthermore, the Company signed a
definitive agreement with MB Drilling Overseas Limited for the drilling of two
firm wells with a one well option. This rig will be used to drill to the deeper
Palaeozoic prospects identified in Block 26, such as the Tigris structure which
is scheduled for drilling in August 2006.

The Souedieh North well will be located in the northeast region of Block 26.
This vertical well will be drilled to an approximate total depth of 7,216 feet
with the primary objective being Cretaceous aged reservoirs similar to those
producing in the adjacent Souedieh and Karachok oil fields. This prospect has
the potential to contain in excess of 100 million barrels of recoverable oil
(Gulfsands' internal estimate of potential). Gulfsands has commenced site
preparations for the well, and expects a spud date on or about 1 May 2006. The
net cost to Gulfsands for drilling and evaluating this well is approximately
$800,000.

The Tigris well will also be located in the northeast region of the Block and is
expected to spud in August 2006. The net cost to Gulfsands for drilling and
evaluating this well is approximately $3.25 million. This vertical well will be
drilled to a total depth of nearly 15,000 feet with the primary objectives being
a series of Palaeozoic (Carboniferous and Devonian) sandstone reservoirs. The
Tigris structure is directly underlying the Souedieh oil field (the largest
known oil field in Syria), where oil is produced from the shallower Cretaceous
reservoirs. Wireline log evaluation of an existing well on the structure
drilled some years ago has identified pay zones within the objective reservoirs,
and the Tigris-1 well is designed to evaluate these reservoirs and appraise this
probable hydrocarbon accumulation. Gulfsands announced on 30 January 2006 the
results of a reserves study by Ryder Scott Company, L.P. (Ryder Scott), an
independent petroleum engineering firm, on the Tigris structure. Ryder Scott
developed two cases for this evaluation, an oil case and a gas case, as there
was not sufficient data available at the time to determine the expected
hydrocarbon fluid contained within the Tigris structure. This reserves study
as of 1 January 2006 classified recoverable Probable and Possible Reserves and
Prospective Resource as follows:

For primarily a natural gas accumulation, Ryder Scott has classified 442
BCFG as Probable Reserves, 442 BCFG as Possible Reserves, and a further 3447
BCFG as a Prospective Resource. In summary total reserves potential among
Probable, Possible and Prospective Resource is 4330 BCFG (722 MMBOE).

For primarily an oil accumulation, Ryder Scott has classified 104 million
barrels of oil and 64 BCFG as Possible Reserves and a further 408 MMBO and
245 BCFG as a Prospective Resource. In summary total reserves potential
among Possible and Prospective Resource is 512 MMBO and 308 BCFG (combined
563 MMBOE).

Gulfsands' CEO, John Dorrier, said:
'Gulfsands is constantly seeking ways of accelerating its schedules and
controlling the costs of exploration drilling. These drilling arrangements
represent an important achievement in the current market. The relatively
low-cost and high potential of these two drilling projects remains a very
attractive exploitation of the Company's significant inventory of drilling
opportunities.'

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1144202415&feed=oilbarrel_en


05.04.2006
Gulfsands Petroleum And Emerald Energy Within Weeks Of First Well In Syria
Less than one year after taking over operatorship of Block 26 in Syria and London-listed Gulfsands Petroleum is gearing up to spud its first exploration well on the block. Rig contracts are in place to drill three wells with the option for a further two with the first hole set to sink within weeks - not bad given available rig slots are like gold dust in the current booming natural resources market.

Gulfsands has identified some 31 leads and prospects on the 11,000 sq km block, which surrounds existing oilfields that are currently pumping some 85,000 barrels per day of 20-26-degree API oil crude. Importantly, the block partners (fellow London-listed oil firm Emerald Energy has a 50 per cent stake) have access rights to that nearby network of production infrastructure. The sulphurous crude is produced from Cretaceous limestone reservoirs but its thought the deeper Palaeozoic horizons also hold potential.

As yet the potential of Block 26 has yet to be proved through the drillbit. A number of wells have been sunk in the past but without commercial success. However, Houston-headquartered operator Gulfsands has plans to change this. It has subcontracted a Croatian rig from another operator in Syria and will use this to drill the Souedieh North prospect, with an option to follow-on with a second well. Site work is already underway and the well should spud in late April or early May.

Gulfsands has also signed an agreement with MB Drilling Overseas to drill two firm wells and one well option. This drilling unit will be used to probe deeper Palaeozoic prospects, such as the Tigris structure which is scheduled for drilling in August.

This promises to be an exciting run of months for followers of the companies and will mark Emerald Energys first project outside its core area of Colombia. Souedieh North lies in the northeast of the block and will be drilled to a depth of 7,216 ft to test Cretaceous-aged reservoirs similar to the producing Souedieh and Karachok oilfields. Gulfsands reckons the US$1.6 million well could tap into a structure with the potential to hold more than 100 million barrels of recoverable oil.

The Tigris prospect also lies in the northeast of the block and will be drilled to nearly 15,000 ft at an estimated cost of US$6.5 million. It will test a series of Palaeozoic sandstone reservoirs that lie directly underneath the Souedieh oilfield (the largest known oilfield in Syria), which produces from the shallower Cretaceous reservoirs.

This wont be the first well on the structure: an existing well identified pay zones within the objective reservoirs. According to independent petroleum engineering firm Ryder Scott, the Tigris structure, if gas prone, could hold a 442 bcf of probable reserves with a total prospective resource of 4.3 tcf. If the reservoirs are found to be oil charged, the total prospective resource base in 512 million barrels of oil and 308 bcf of gas. These numbers will remain theoretical, however, until proved by the drillbit - and happily for impatient investors the countdown to the first well is now well underway.
< back

copied from advfn
The announcement this week on Block 26 has been timed to coincide with the 5th Syrian International Oil and Gas Exhibition held in Damascus this week from 3rd April until 6th April. This exhibition is held every 2 years and is a major focus for the Mid-east O&G industry.

I would expect that the Gulfsands announcement would have been a major boost for the Government, Oil Ministry, and exhibitors as it comes in the face of US attempts to isolate the country and place a political and commercial squeeze on them. Much is made of the fact that Gulfsands and Emerald are US and UK companies operating in the country in spite of US sanctions. (Gulfsands is represented as being US on the basis that its headquarters are in Houston.)

http://www.syroil.com/

News:
◙ Oil Reserve in Syria is Rich, Gulfsands Petroleum Says
◙ Petro-Canada closes sale of its Syrian-producing assets
◙ Tanganyika Oil Company Provides Update On Egypt And Syria Operations
◙ Syria Receives Bids for Oil Exploration In Nine Announced Sectors
◙ Syria strikes deals with 14 Kuwaiti, foreign firms to develop oil fields
◙ Petroleum investments in Syria promising, CEO of APICORP says
◙ Russian oil company to establish a refinery in Syria
◙ Syria-Croatia sign gas agreement
◙ Syrian signs oil and gas exploration contract with Canada and Kuwait
◙ Oil exploration agreement in Palmyra
◙ Syria , Egypt to carry out 3rd step of Arab natural gas pipeline
◙ Syrian oil company comes first among Shell partners
◙ The ratification of TAT NAFT contract
◙ Dr. Ibrahim Haddad said " Syria has given the sector of gas a special interest
◙ Syria, Egypt hold talks on gas cooperation project
◙ The ratification of Dublin contract
◙ The ratification of HBS contract
◙ New contract approval

Oil Reserve in Syria is Rich, Gulfsands Petroleum Says

Deputy Executive Director of the American-British Gulfsands Petroleum Company Mehdi Sajjad said that the company is insisting to continue drilling in Syria, denying that it is exposed to any pressures regarding work in Syria .

In a phone call with al-Thawra daily published Wednesday, Sajjad added Syria has transparently announced that her reserve of petrol has decreased, but the report of the company assures that the discovered reserve is rich, particularly in the deep areas.

He pointed out that the company announced that oil "reserve in Dijla field at the 26 sector increased from 500 million to 700 million barrel of oil as well its gas equivalent".

Sajjad underlined that the study prepared by Ryder Scott Petroleum Company pointed out that the "possible reserve of Dijla field is 722 million barrel if it was basically natural gas accumulation and 563 million barrel if it was mainly oil reserve".

He continued that the Ryder Scott Company adopted the data of the seismological survey I its evaluations. The company discovered a hydro-carbon compounds in three of the six wells that were digged earlier.

He asserted that the company is using a very advanced technology in exploration actions in the deep areas, stressing that it will start digging next April.

He indicated that "Syria has attracted many world companies in spite of the difficult situation the region is passing through", pointing out that the company is looking for expanding its exploration in the Syrian fields and developing cooperation with the Syrian government.

Found this on website yesterday it was there 8.21 this morning
it as been removed now


This map shows the location of the 3 Vigia wells also the Centauro Sur and Las Acacias.

http://www.emeraldenergy.com/OnP-CampRico_Vigia.htm


Vigia Field

In February 2005 the Parker 222 drilling rig spudded exploration well Vigia #1 within the Campo Rico block about 11 km from the Campo Rico Field (see Location Map below). Total depth of 11,120 ft was reached in March and two zones successfully tested and produced 16 degrees API oil.

Rig 222 then moved and drilled 2 further wells on the Vigia structure. Vigia #2 was drilled to 11,680 ft and Vigia #3 to 11,070 ft.

Vigia #1, #2 and #3 have been completed with downhole jet pumps. In July 2005 Vigia #1 was put on production followed by Vigia #3 in November 2005 and Vigia#2 in February 2006.

Cumulative oil production from Vigia field at the end of 2005 was 0.11 million barrels of 16 degree API oil.

In December 2005 Ecopetrol has advised the Company that it has granted commercial status to the Campo Rico fields and exercised its right to back-in for 50% of the discovery. Under the terms of the Campo Rico Association Contract, Ecopetrol will now receive 50% of production after the deduction of 8% royalty oil and will reimburse Emerald for 50% of the cost.


Vigia, field and wells.

Map of Vigia showing the 3 Vigia wells also site of proposed Vigia4 also The Las Acacias prospect and The Centauro Sur prospect.

Exploration

In the second half of 2005, Emerald completed the processing and interpretation of the 3D survey that covers some 172 sq km of the Campo Rico block. In addition to appraising the development potential of the existing fields, the survey was designed to identify new prospects in the block. As a result of this programme, Emerald has identified two prospects for immediate drilling: Centauro Sur and Las Acacias.

The Centauro Sur prospect lies to the southwest of Campo Rico field. The Centauro Sur #1 exploration well was spud on 14 March 2006 and is drilling ahead.

The Las Acacias prospect lies to the southwest of Vigia field. The Acacias #1 exploration well will spud in late April 2006.

Website www.emeraldenergy.com
now showing Vigia wells and rest of update.

The New map shows the location of the 3 Vigia wells and Vigia4,also the Centauro Sur-1 and Las Acacias-1

This is looking incredibly good value to me with very little factored in for Syria, which is all about to kick-off. Considering increasing my holding.

http://www.emeraldenergy.com/OnP-CampRico_Vigia.htm

Operations & Production
COLOMBIA : CAMPO RICO ASSOCIATION CONTRACT

503 sq km
Contract awarded in May 2002
Exploration period of up to six years
Exploitation period of up to 22 years
The Campo Rico contract area is in the productive Llanos basin and is adjacent to producing oil fields.

Campo Rico Field

The Campo Rico #1 exploration well was located near the crest of the Campo Rico structure (see the "Campo Rico Field Structure " map below) and was drilled to a depth of 11,795 feet. The well was declared an oil discovery in the Mirador sands in March 2004 and was completed for production. A jet pump was installed in the well and a long-term production test commenced in May 2004.

Two further production wells have now been completed in the field, both drilled directionally from the Campo Rico #1 well site.

Initial testing with downhole jet pumps indicated that both #2 and #3 Campo Rico wells required remedial cementation to eliminate water production from adjacent reservoirs. The workovers were completed in July 2005 and since then all 3 Campo Rico wells have been on production utilising downhole jet pumps.

Cumulative production from Campo Rico field at the end of 2005 was 1.07 million barrels of 16 degrees API oil.

In December 2005 Ecopetrol has advised the Company that it has granted commercial status to the Campo Rico fields and exercised its right to back-in for 50% of the discovery. Under the terms of the Campo Rico Association Contract, Ecopetrol will now receive 50% of production after the deduction of 8% royalty oil and will reimburse Emerald for 50% of the cost.


Campo Rico Location Map
The Campo Rico
Field Structure
Campo Rico Play Schematic




Vigia Field

In February 2005 the Parker 222 drilling rig spudded exploration well Vigia #1 within the Campo Rico block about 11 km from the Campo Rico Field (see Location Map below). Total depth of 11,120 ft was reached in March and two zones successfully tested and produced 16 degrees API oil.

Rig 222 then moved and drilled 2 further wells on the Vigia structure. Vigia #2 was drilled to 11,680 ft and Vigia #3 to 11,070 ft.

Vigia #1, #2 and #3 have been completed with downhole jet pumps. In July 2005 Vigia #1 was put on production followed by Vigia #3 in November 2005 and Vigia#2 in February 2006.

Cumulative oil production from Vigia field at the end of 2005 was 0.11 million barrels of 16 degree API oil.


Vigia, field and wells.

Exploration

In the second half of 2005, Emerald completed the processing and interpretation of the 3D survey that covers some 172 sq km of the Campo Rico block. In addition to appraising the development potential of the existing fields, the survey was designed to identify new prospects in the block. As a result of this programme, Emerald has identified two prospects for immediate drilling: Centauro Sur and Las Acacias.

The Centauro Sur prospect lies to the southwest of Campo Rico field. The Centauro Sur #1 exploration well was spud on 14 March 2006 and is drilling ahead.

The Las Acacias prospect lies to the southwest of Vigia field. The Acacias #1 exploration well will spud in late April 2006.


Campo Rico, new wells.

Agree greyhound, drilling could begin in 3 weeks time, and that might cause some
excitement. Can't find how long it will take, but i believe i read somewhere that the 7200ft deep well should be take in the region of 1 month? If so we could get a
result early June.
cyril

Emerald Energy PLC
18 April 2006


EMERALD ENERGY Plc

18 April 2006

Final results

EMERALD ENERGY Plc, a United Kingdom based company engaged in exploration and
production of hydrocarbons in South America and the Middle East, announces its
final results for the year ended 31 December 2005.


Highlights for 2005

Added five new production wells, achieving 100% drilling success
rate;
Achieved gross production of 1.2 million barrels, 149% higher than
in 2004;
Achieved 199% reserves replacement ratio;
Generated profit before tax of $8 million, 267% higher than in
2004;
Purchased 50% interest in Block 26, Syria.

Centauro Sur #1, spud in March 2006,
has been drilled to a total depth of 11,265 feet using Pride Rig 14. The well
logs identified a zone with potential hydrocarbons



Utilising the results of the 3D seismic survey acquired in 2005, covering some
172 sq km or one third of the Campo Rico block, Emerald is planning to drill at
least five new wells in 2006; including exploration wells on at least two new
prospects, Centauro Sur and Las Acacias. Centauro Sur #1, spud in March 2006,
has been drilled to a total depth of 11,265 feet using Pride Rig 14. The well
logs identified a zone with potential hydrocarbons; and production casing is
being run so that a flow test of the zone can be conducted. Saxon Rig 223 is
rigging up on the location for Las Acacias #1 and the well will spud at the end
of April or in early May.

every 50bopd @ $60 over the 676average for 2005 adds $1,095,000 per year to
Emerald turnover, less royalties and Ecopetrol 50 % share of which 50% will be reimbursed to Emerald.



In December 2005,the Gigante #1A well developed a tubing leak after producing
two million barrels of crude oil over a five-year period. A workover rig was
mobilised in early 2006 and, simultaneously with the tubing repair, the field
staff installed an electric submersible pump to replace the smaller capacity
hydraulic jet pump. Following an initial clean-up period, the well produces in
excess of 900 bopd (2005 average of 676 bopd) with the potential to increase
production rate further when a larger electric generator is fully commissioned.

Obviously the power supply could not cope with the power needed to operate the
new pump and when the new larger electric generator is fully commissioned. I can
see output being increased considerably
But as always do your own reseach.


In December 2005,the Gigante #1A well developed a tubing leak after producing
two million barrels of crude oil over a five-year period. A workover rig was
mobilised in early 2006 and, simultaneously with the tubing repair, the field
staff installed an electric submersible pump to replace the smaller capacity
hydraulic jet pump. Following an initial clean-up period, the well produces in
excess of 900 bopd (2005 average of 676 bopd) with the potential to increase
production rate further when a larger electric generator is fully commissioned.

Gigante field may create an opportunity to drill a second well at Gigante jointly with Ecopetrol, sharing the associated costs and risks, if the required agreement with Ecopetrol is reached. However, the drilling of the Gigante #2 well will not take place earlier than 2007.




The exploitation phase of the Gigante field started on 1 February 2003 under the
sole risk provision of the Matambo Association Contract. Once the sole risks
status was granted, Emerald became entitled to 100% of production (before
royalties) from the Gigante field for as long as it had a balance of
reimbursable costs outstanding in its favour.

In March 2006, Ecopetrol exercised its right to participate in the exploitation of the Gigante field. Joint operation of the Gigante field may create an opportunity to drill a second well at Gigante jointly with Ecopetrol, sharing the associated costs and risks, if the required agreement with Ecopetrol is reached. However, the drilling of the Gigante #2 well will not take place earlier than 2007.

Emerald Energy PLC
18 April 2006


EMERALD ENERGY Plc

18 April 2006

Final results

EMERALD ENERGY Plc, a United Kingdom based company engaged in exploration and
production of hydrocarbons in South America and the Middle East, announces its
final results for the year ended 31 December 2005.


Highlights for 2005

Added five new production wells, achieving 100% drilling success
rate;
Achieved gross production of 1.2 million barrels, 149% higher than
in 2004;
Achieved 199% reserves replacement ratio;
Generated profit before tax of $8 million, 267% higher than in
2004;
Purchased 50% interest in Block 26, Syria.


Chairman's statement

2005 was another important year for Emerald and its shareholders. The Group has
continued its growth in Colombia and purchased new interests in the Middle East.

Colombia

During 2005, Emerald added five new production wells to its production
portfolio, achieving a 100% drilling success rate since resumption of drilling
in 2004. Successful drilling at the Vigia field has added 2.4 million barrels of
Proved plus Probable reserves, achieving a reserves replacement ratio of 199%.

Emerald has constructed new and enlarged facilites at the Vigia and Campo Rico
fields to gather, process and dispatch the increasing volumes of crude from the
additional production wells. As the fields mature these facilities will be
altered to handle the increasing volumes of water production in order to sustain
the oil production rates at the highest possible level.

The upturn seen in the oil and gas industry in the last 12 months has had an
adverse effect on rig availability as well as supplier costs and on their
ability to deliver and meet schedules; Emerald's Colombian management and staff
have handled these additional pressures very well, implementing alternative
drilling and production solutions, minimising delays and fulfilling the
Company's capital programme as planned.

Successful development of the Campo Rico field in the Campo Rico block resulted
in the grant of commerciality status to the field by Ecopetrol, the Colombian
state oil company, in December 2005. A similar decision on the status of the
Vigia field is expected in the near future. Under the terms of the Campo Rico
Association Contract, once commerciality status is granted, Ecopetrol
participates in the exploitation phase of the project, reimbursing Emerald 50%
of the allowable past costs from its share of production and sharing with
Emerald ongoing costs and production on a 50/50 basis with Emerald.

Utilising the results of the 3D seismic survey acquired in 2005, covering some
172 sq km or one third of the Campo Rico block, Emerald is planning to drill at
least five new wells in 2006; including exploration wells on at least two new
prospects, Centauro Sur and Las Acacias. Centauro Sur #1, spud in March 2006,
has been drilled to a total depth of 11,265 feet using Pride Rig 14. The well
logs identified a zone with potential hydrocarbons; and production casing is
being run so that a flow test of the zone can be conducted. Saxon Rig 223 is
rigging up on the location for Las Acacias #1 and the well will spud at the end
of April or in early May.

In December 2005,the Gigante #1A well developed a tubing leak after producing
two million barrels of crude oil over a five-year period. A workover rig was
mobilised in early 2006 and, simultaneously with the tubing repair, the field
staff installed an electric submersible pump to replace the smaller capacity
hydraulic jet pump. Following an initial clean-up period, the well produces in
excess of 900 bopd (2005 average of 676 bopd) with the potential to increase
production rate further when a larger electric generator is fully commissioned.

The exploitation phase of the Gigante field started on 1 February 2003 under the
sole risk provision of the Matambo Association Contract. Once the sole risks
status was granted, Emerald became entitled to 100% of production (before
royalties) from the Gigante field for as long as it had a balance of
reimbursable costs outstanding in its favour. In March 2006, Ecopetrol exercised
its right to participate in the exploitation of the Gigante field. Joint
operation of the Gigante field may create an opportunity to drill a second well
at Gigante jointly with Ecopetrol, sharing the associated costs and risks, if
the required agreement with Ecopetrol is reached. However, the drilling of the
Gigante #2 well will not take place earlier than 2007.

The Silfide #1 exploration well, drilled on the Fortuna block in October 2005,
discovered hydrocarbons that are currently being produced at an average daily
rate of some 30 bopd. In addition to the potential of the Silfide discovery,
Emerald is evaluating the feasibility to drill a horizontal well to produce the
reserves of the Totumal field, also situated in the Fortuna block. The Totumal
field, which is deeper than the Lisama reservoir, targeted by the Silfide #1
well, was produced by Ecopetrol until 1993, when it was abandoned after
producing over 800,000 barrels of oil. Ecopetrol has granted Emerald a
three-month extension to the current exploration period to evaluate the options
before Emerald either commits to drilling a further well on the block, applies
for commerciality for Silfide, or returns the block to Ecopetrol.

The Agueda #1 exploration well, drilled on the El Algarrobo block in March 2006,
recovered no hydrocarbons during a flow test and was plugged and abandoned. As
Agueda was the only prospect identified on the block, the Company expects to
return the block to Ecopetrol and terminate the Association Contract.

In the reporting period, all of Emerald's production came from the Campo Rico
block (the Campo Rico and the Vigia fields) and the Matambo block (the Gigante
field) in Colombia. In 2005, Emerald achieved an average gross production rate
of 3,301 bopd, a 150% increase on 1,322 bopd achieved in 2004. On the
entitlement basis, in 2005, Emerald achieved 2,293 bopd compared to 1,128 bopd
achieved in 2004.

In the first quarter of 2006, Emerald's gross production averaged 4,336 bopd,
compared to 4,451 bopd achieved in the fourth quarter of 2005. This 2.5% decline
in production is a result of failures of the rented hydraulic pumping equipment
at the Campo Rico and Vigia fields as well as constrained production from the
Gigante #1A well in the period leading up to, during and immediately after its
workover. As the surface facilities at the producing fields are upgraded, higher
production levels will be achieved.

Syria

In November 2005, Emerald purchased a 50% participating interest in the contract
to explore and produce hydrocarbons from Block 26, Syria; the consideration was
$7.2 million, plus the issue of 3.5 million ordinary shares, deferred to May
2007. Gulfsands Petroleum Plc ('Gulfsands') is the operator and holder of the
remaining 50% participating interest in the block. The block is situated in the
northeast of Syria in a proven hydrocarbon system evidenced by existing
discovered fields within the blocks boundaries, some of which have been
developed and currently produce in excess of 100,000 bopd.

In January 2006, a 2D seismic acquisition programme covering 1,155 km in the
block was completed. Once the newly acquired seismic data is processed and
integrated with the older existing seismic data, it will be interpreted and
subsequently used to enhance the understanding of the many leads and prospects
that have been identified in the block.

Emerald and Gulfsands are on track to exceed the minimum work obligations under
the Block 26 contract of drilling four wells by August 2007. In April 2006 two
rigs were contracted to drill three wells with options to drill a further two
wells.

Two prospects have been selected to commence the drilling programme:

Souedieh North prospect is a Cretaceous target situated within the
northeast part of the block, located between the existing Souedieh and
Karatchok fields. It is planned to spud the North Souedieh #1 exploration
well in the second quarter of 2006.

Tigris structure is also located in the northeast part of the block and
is directly underlying the Souedieh oil field that produces from the
shallower Cretaceous reservoirs. Using data from a well drilled into the
structure in 1994 and the extensive 3D seismic data available for the
Souedieh field, Ryder Scott Company LP has prepared an independent reserves
study for the Tigris structure, the details of which can be found in the
Review of Operations. The Ryder Scott study has concluded that there are
potentially productive zones contained within Palaeozoic age reservoirs
penetrated by the earlier well bore. It is planned to spud the Tigris #1
exploration well in third quarter of 2006 with the primary objectives being
a series of Carboniferous and Devonian sandstone reservoirs.

Russia

In 2005, Emerald terminated the conditional Sale and Purchase Agreement,
announced on 11 November 2004, to acquire a 25% interest in JSC
Krasnoyarskgazprom. The termination was without penalty and resulted from
Emerald being unable to fully satisfy itself with regard to the security of the
title to the exploration and production licenses held by JSC Krasnoyarskgazprom.

Financial results

The results for the year ended 31 December 2005 show a profit before tax of $8.0
million achieved on the revenue of $32.1 million compared with a profit before
tax of $2.2 million achieved on the revenue of $12.5 million in the year ended
31 December 2004. Through continued production growth and helped by further
strengthening of the oil prices, in the reporting period, Emerald generated an
adjusted EBITDA* of $16.7 million compared to $3.8 million achieved in 2004
(adjusted EBITDA is earnings before interest, tax, depreciation, depletion,
amortisation and write-offs of oil & gas assets, excluding other income,
non-operating items and cost recovery adjustments). Cash at 31 December 2005
totalled $20.7 million compared with $23.6 million at 31 December 2004. The
Company does not propose to declare a dividend for 2005 as it intends to use its
cash reserves and strong cash flow to finance the growth of the Group and its
operations.

Outlook

Emerald's objectives are to grow its reserve base and increase its net
production through exploration and development of existing and new acreage.

The five-well drilling programme in Colombia will explore for, and add to,
reserves and production. The drilling programme for 2006 in Syria, which
continues into 2007, is designed for exploration and will test the potential of
some substantial prospects; success on any one of which will greatly enhance
Emerald's reserve base.

The exploration department in Colombia has been strengthened and given a wider
remit to look both in Colombia and in the surrounding countries of South
America. At the same time, UK based management and staff are reviewing further
opportunities to acquire new exploration acreage, farm-in to existing acreage
with established partners and acquire established assets in new international
locations.

The Company's year-on-year production growth and the current world oil price
will continue to generate strong positive cashflow, which with the Company's
current cash resources, will be used to explore to create a substantial reserve
base.


Alastair Beardsall
Chairman

18 April 2006

Review of operations

Emerald is engaged in exploration and production of hydrocarbons in South
America and the Middle East. In South America, Emerald is participating in
association contracts with Ecopetrol, the Colombian state oil company, and is
actively seeking new exploration opportunities in Colombia and in other
countries of South America. In the Middle East, Emerald is involved in
exploration of Block 26 in Syria.

Colombia

Campo Rico Association Contract

Area of 503 sq km;
Contract awarded in May 2002 with an exploration period of up to
six years and an exploitation period of up to 22 years;
During exploration period, Emerald conducts all activities at its
own risk;
During exploitation period, Ecopetrol and Emerald participate on a
50/50 basis, subject to recovery by Emerald of reimbursable costs from
Ecopetrol's share of production.

The Campo Rico block is in the Llanos basin. Emerald currently operates two
fields in the block: the Campo Rico field and the Vigia field. In addition,
having completed the acquisition of a 3D seismic survey totalling 172 sq km,
Emerald has identified opportunities for exploration drilling outside of the
Campo Rico and the Vigia fields.

Campo Rico field

The Campo Rico field was discovered in March 2004 and the cumulative oil
production from the field at the end of 2005 was 1,068,000 barrels.

The Campo Rico #1 discovery well was drilled to a depth of 11,795 ft in March
2004. The well was brought on production in May 2004. The Campo Rico #2 and #3
development wells were drilled directionally from the site of the Campo Rico #1
well to measured depths of 11,354 ft and 11,287 ft, respectively. The field was
brought on full production in July 2005, after remedial cementation was
performed on the Campo Rico #2 and #3 wells to resolve the problem of excessive
water production. The field produces 16degrees API crude oil from Mirador sands.
The average production rate achieved by the field in 2005 was 2,317 bopd.

In the first quarter of 2006, the Campo Rico field experienced reduced
production rates resulting from the failures of surface hydraulic pumps, poorly
maintained by the contractor. New surface pumps are being purchased to replace
the rented ones. In addition, the wells are being evaluated for production with
larger electrical submersible pumps (ESPs), and, if found suitable, the first
ESPs should be installed and operational by the end of the third quarter of
2006. In the first quarter of 2006, the Campo Rico field was produced at an
average rate of 2,578 bopd.

On 28 December 2005, Ecopetrol granted the Campo Rico field commerciality
status; Ecopetrol now participate with Emerald in commercial exploitation of the
field. Under the terms of the Campo Rico Association Contract, Emerald has the
right to recovery of reimbursable costs from 50% of Ecopetrol's share of
production. Once the recovery of reimbursable costs is complete, production and
costs associated with the operation of the field will be shared equally between
Emerald and Ecopetrol.

As at 31 December 2005, the Campo Rico field was estimated by the Company to
contain 7.6 million barrels of Proved plus Probable plus Possible reserves of
oil.

Vigia field

The Vigia field was discovered in April 2005 and the cumulative oil production
from this new field at the end of 2005 was 112,000 barrels.

The Vigia #1 discovery well was drilled to a depth of 11,120 ft in April 2005
and brought on production in July 2005. The Vigia #2 and #3 appraisal wells were
drilled directionally from the site of the Vigia #1 well to measured depths of
11,680 ft and 11,070 ft, respectively.

The field produces 16degrees API crude oil from the Une and Lower Gacheta sands.
In the period from 1 July to 31 December 2005, the field was produced at an
average rate of 611 bopd. In 2005, production was restricted by the limited
capacity of the early production facilities in the field, particularly with
respect to water handling. In the first quarter of 2006, the field was produced
at an average rate of 1,179 bopd.

The Vigia field is currently being produced under the production test provision
of the Campo Rico Association Contract. Emerald has applied for commerciality
status for the Vigia field and expects Ecopetrol to grant it shortly. On
granting the Vigia field a commerciality status, Ecopetrol will join Emerald in
commercial exploitation of the field. Under the terms of the Association
Contract, Emerald has the right to recovery of reimbursable costs from 50% of
Ecopetrol's share of production. Once the recovery of reimbursable costs is
complete, production and costs associated with the operation of the field will
be shared equally between Emerald and Ecopetrol.

As at 31 December 2005, the Vigia field was estimated by the Company to contain
4.9 million barrels of Proved plus Probable plus Possible reserves of oil.

Exploration opportunities in the Campo Rico block

In the second half of 2005, Emerald completed the processing and interpretation
of the 3D seismic data acquired over some 172 sq km of the Campo Rico block. In
addition to appraising the development potential of the existing fields, the
survey was designed to identify new prospects in the block. As a result of this
programme, Emerald has identified two prospects for immediate drilling: Centauro
Sur and Las Acacias.

The Centauro Sur prospect lies to the southwest of Campo Rico field. The
Centauro Sur #1 exploration well was spud on 14 March 2006 and at the date of
this report has reached its total depth of 11,265 feet. The well has been logged
and casing run in order to flow test a potential hydrocarbon zone identified by
the logs.

The Las Acacias prospect lies to the southwest of Vigia field. The Acacias #1
exploration well will be spud by the end of April or in early May.


Matambo Association Contract

Area of 69 sq km;
Exploration and exploitation rights extend to November 2024;
During exploration period, Emerald conducts all activities at its
own risk;
During exploitation period, Ecopetrol and Emerald participate on a
50/50 basis, subject to recovery by Emerald of reimbursable costs from
Ecopetrol's share of production.

The Matambo block, located in the Upper Magdalena valley, contains the Gigante
field. The Gigante field is operated with a single well, Gigante #1A. The
cumulative oil production from the Gigante field at the end of 2005 was
2,053,000 barrels.

Emerald has operated the Gigante field on a 'sole risk' basis from 1 February
2003. Under the sole risk provision of the Matambo Association Contract, Emerald
is entitled to recover the reimbursable costs incurred during exploration and
sole risk periods. A reserved zone of up to 5 km around the sole risk area has
been established; Emerald retains exclusive exploration rights within this zone
without any additional work obligations.

The Gigante #1A well continued to produce 32degrees API gravity crude oil at an
average rate of 676 bopd during 2005, compared to 715 bopd achieved in 2004. The
decline in the productivity of the well was caused by a hole in the production
tubing that occurred in the last quarter of 2005. The well continued production
at a restricted rate until the workover was completed in February 2006. As part
of the workover, the downhole hydraulic jet pump has been replaced with a larger
capacity electric submersible pump (ESP).

As at 31 December 2005, the Gigante field was estimated by the Company to
contain 17.9 million barrels of Proved plus Probable plus Possible reserves of
oil.

Fortuna Association Contract

Area of 219 sq km;
Contract awarded in December 2003, exploration period of up to six
years and exploitation period of up to 22 years;
During exploration period, the associate (Emerald 90%, Geoadinpro
S.A. 10%, with Emerald carrying Geoadinpro's share of the costs) conducts all
activities at is own risk;
During exploitation period, Ecopetrol and the associate
participate on a 20/80 basis, subject to recovery by the associate of
reimbursable costs from Ecopetrol's share of production.

The Fortuna block lies in the Middle Magdalena basin. The contract area includes
the Totumal oil field, produced by Ecopetrol until it was abandoned in 1993
after producing over 800,000 barrels of oil. The principal exploration prospects
being developed by Emerald are in the shallower Lisama sands that flank the
Totumal field high. Three oil fields that have produced from the Lisama sands
lie just to the south of the Fortuna block.

The Silfide #1 exploration well was drilled in October 2005 to a measured depth
of 5,114 ft and discovered oil producing sandstones. The well was put on test
production in late December 2005 and is currently producing about 30 bopd.
Analysis of seismic, drilling and logging data indicates that the well has
penetrated a secondary target and not the primary Lisama target. Ecopetrol
granted Emerald a three-month extension to the current exploration period to
evaluate the Silfide discovery before the Company either commits to drilling a
further well on the block, applies for commerciality for Silfide, or returns the
block to Ecopetrol.

El Algarrobo Association Contract

The Agueda #1 exploration well was drilled in March 2006 to a depth of 9,980 ft.
The well was tested but no hydrocarbons were recovered and the well was plugged
and abandoned. As Agueda was the only prospect identified in the block, and
drilling of Agueda #1 satisfied the minimum work obligations under the contract,
the Company now plans to terminate the association contract. Currently, Emerald
has a 50% non-operating interest in the El Algarrobo Association Contract.

Technical Evaluation Agreements (TEAs)
The Company has completed its evaluation of the Mantecal and Altamira study
areas granted under the respective TEAs and elected not to apply for exploration
contracts within the two areas. The Company continues to evaluate possible leads
in the Cachama and Las Brisas TEA areas and has until June 2006 to complete its
study and apply for and negotiate exploration contracts over any parts of the
study areas.

Production
In the reporting period, all of Emerald's production came from the Campo Rico
block (the Campo Rico and the Vigia fields) and the Matambo block (the Gigante
field). In 2005, Emerald achieved an average gross production rate of 3,301
bopd, 150% increase on 1,322 bopd achieved in 2004. On the entitlement basis, in
2005, Emerald achieved 2,293 bopd compared to 1,128 bopd achieved in 2004.

Producing fields
--------------------

Campo Rico Vigia Gigante Total
mbbl mbbl mbbl mbbl
-------- ------- -------- -------
-------- -------
Gross attributable production 846 112 247 1,205
Royalty petroleum (68) (9) (49) (126)
Ecopetrol entitlement production (242) -- -- (242)
-------------------- -------- ------- -------- --- -------
Emerald entitlement production 536 104 198 837
-------------------- -------- ------- -------- --- -------

In the first quarter of 2006, Emerald's gross production averaged 4,336 bopd,
compared to 4,451 bopd achieved in the fourth quarter of 2005. This 2.5% decline
in production is a result of failures of the rented surface equipment at the
Campo Rico and Vigia fields as well as constrained production from the Gigante #
1A well in the period leading up to, during and immediately after its workover.
As the surface facilities at the producing fields are upgraded, higher
production levels will be achieved.


Syria

Block 26 Production Sharing Contract

Area of 11,000 sq km;
Production Sharing Contract (PSC) awarded in May 2003, initial
exploration period of 4 years, with options to extend for a further 3 years and
then 2 years and exploitation period of up to 25 years;
Emerald has 50% non-operating working interest in the contract;
Royalty of 12.5%; cost recovery allowance with profit oil share
reducing on a sliding scale basis.

Block 26 is situated in northeast Syria and its boundaries surround existing
discovered fields, some of which have been developed and currently produce in
excess of 100,000 bopd, including the Souedieh field, the largest oil field in
Syria. Production from these fields is from mid-Cretaceous limestone reservoirs
that produce medium gravity 20-26degrees API crude oil. These existing fields
are excluded from the PSC but the deeper stratigraphic levels below them are
not. To date, 31 leads and prospects have been identified in the block. Two
drilling rigs have been contracted to drill three firm wells with options to
drill a further two wells. Two prospects have been selected to commence the
drilling programme in 2006: Souedieh North and Tigris.

Souedieh North prospect

Souedieh North is a Cretaceous target situated within the northeast part of the
block, located between the existing Souedieh and Karatchok fields. North
Souedieh #1, a vertical exploration well, will be drilled to an approximate
depth of 7,200 ft. The well is planned to be spud in the second quarter of 2006.

Tigris prospect

The second prospect, Tigris, is also located in the northeast part of the block.
The Tigris structure is directly underlying the Souedieh oil field. Ryder Scott
Company LP ('Ryder Scott') has prepared an independent reserves study for the
Tigris structure. The data used for the study includes the wireline logs from a
well drilled into the structure in 1994 and the extensive 3D seismic data
available for the Souedieh field. The Ryder Scott study has concluded that there
are nine potentially productive zones contained within Palaeozoic age reservoirs
penetrated by the earlier well bore. Due to the limited nature of the available
data, Ryder Scott was unable to determine the expected type of hydrocarbons
contained within the structure. Addressing this uncertainty, Ryder Scott
developed two cases for their evaluation:

If Tigris is a natural gas accumulation, it is estimated to contain 442
bcf of Probable Reserves; a further 442 bcf of Possible Reserves; and a
further 3,447 bcf of Prospective Resources.

If Tigris is an oil accumulation, it is estimated to contain 104
mmbbl of oil and 64 bcf of gas as Possible Reserves and further 408
mmbbl of oil and 245 bcf of gas as Prospective Resources.

Tigris #1, a vertical exploration well, will be drilled to an approximate depth
of 14,700 ft with the primary objectives being a series of Carboniferous and
Devonian sandstone reservoirs. The well is planned to be spud in the third
quarter of 2006.

New ventures

During 2005, Emerald evaluated several new ventures, some in great detail,
including the purchase of its 50% working interest in Block 26 in Syria. In the
second half of 2005, the exploration department in Colombia has been
strengthened with a wider remit to look both in Colombia and in the surrounding
countries of South America. Emerald's objectives remain to grow its reserve base
and to increase its net production through exploration and acquisition of
assets.


Proved plus Probable reserves

Colombia

The table below summarises the gross attributable Proved plus Probable reserves
in Colombia as at 31 December 2005. Gross attributable reserves are defined as
total field reserves, including royalty oil and any Ecopetrol's entitlements,
but excluding participation of other parties forming the Associate under the
terms of the association contracts with Ecopetrol.

Producing fields
--------------------

Campo Rico Vigia Gigante Total
Proved plus Probable reserves of mbbl mbbl mbbl mbbl
oil: -------- ------- -------- -------
-------- -------
As at 31 December 2004(1) 5,328 -- 7,954 13,282
Revisions(2) -- 2,395 -- 2,395
Production (846) (113) (247) (1,205)
-------------------- -------- ------- -------- --- -------
As at 31 December 2005 4,482 2,282 7,707 14,472
-------------------- -------- ------- -------- --- -------
(1) Source: Reserves Evaluation of the Gigante and Campo Rico fields, by RPS
Energy (formerly, RPS Troy-Ikoda), dated 17 March 2005.
(2) Source: Evaluation of Vigia field, by RPS Energy, dated 2 March 2006.

Syria
The table below summarises Emerald's 50% interest Proved plus Probable reserves
in Syria as at 31 December 2005, under the assumption that the Tigris field is a
gas accumulation.

Oil Gas
------------- ------------

Proved plus Probable reserves: mbbl bcf
------------- ------------

As at 31 December 2004 -- --
Revisions(3) -- 221
Production -- --
----------------------- ------------- ------------
As at 31 December 2005 -- 221
----------------------- ------------- ------------
(3) Source: Estimated Reserves and Prospective Resources Attributable to Tigris
Field Syria, by Ryder Scott Company LP, dated 27 January 2006.

If the Tigris field is an oil accumulation, it is estimated to contain 104
million barrel of oil and 64 bcf of gas Possible reserves (62 million barrels of
oil and 32 bcf of gas net to Emerald).

Alastair Beardsall

Chief Executive

18 April 2006

een on the move

Gulfsands was up 17% yesterday on new adviser T&G bullish on Syria and Iraq. FT pg 40 today.

If youve had a good day please consider giving a donation to the lads dressed as Elvis racing 350 miles to the North Pole on behalf of Great Ormond Street Hospital It makes the London Marathon seem like a stroll in the park!
To donate or view how theyre getting on visit
http://www.elvispolarchallenge.co.uk/
thanks for your time

heading for 3 + IMO

But as always dyor

Got first batch at 0.5p,what agreat outfit,wait for syria,will see this really motor,right on dfgo.

nice rise today

from 2005 report

UK based management and staff are reviewing further opportunities to acquire new exploration acreage.

Farm-in to existing acreage with established partners and acquire established assets in new international locations


The exploration department in Colombia has been strengthened and given a wider
remit to look both in Colombia and in the surrounding countries of South
America.

Emerald's objectives remain to grow its reserve base and to increase its net production through exploration and acquisition of assets.

21/4/2005 result and update pdf

http://www.emeraldenergy.com/investor-presentations.htm

DFGO;
Its been a long journey but all worthwhile, a definate breakout.
With drilling of 2 new wells imminent, especially the Syrian one hoping upwards
to 5 in the not to distant future?
cyril

niceonecyril
and waiting on the perforations and testing of Centauro Sur #1

Centauro Sur #1, spud in March 2006,has been drilled to a total depth of 11,265 feet using Pride Rig 14. The well logs identified a zone with potential hydrocarbons; and production casing is being run so that a flow test of the zone can be conducted

a lot of new information in 21/4/05 update pdf
http://www.emeraldenergy.com/investor-presentations.htm

DFGO, another plus in my view is the Gigante 1 rework which as you know
has had teething problems(although increasing output from former levels). Once the generator issue has been sorted i
have a gut feeling we could see 1500bopd, nothing more than that. But
their will be an increase in output thats for sure, not worth time and effort
(not to mention costs)otherwise.
cyril

niceonecyril

I agree, it will be somewhere in that region it would be nice to see 2,000bopd
about half off original output.

Remember Ecopetrol reimburse costs, but only 50% now they have backed in for there 50%

A real breakout in progress, 329.78/335.93p. A week ago these
were trading in the region of 260p.
cyril

Must be due an updated report from Evolution soon. Anyone got access to them - I seemed to lose mine recently when they changed the registration rules. Need some new figures to sustain this current price from those currently showing as brokers forecasts.

http://personalfinance.iii.co.uk/articles/articledisplay.jsp?section=Share%20Tips&article_id=2920217

3 small cap picks - EEN

You would have to say that it has been a long and volatile progression higher for Emerald over the past couple of years. While it is usual to say that any stock or market near its highs seems to be an attractive proposition, in this case there are a couple of reasons for being optimistic regarding the upside. The first is that last month?s support is well-above December resistance, and the second is that even though we have relatively high share price levels, the RSI has just nudged over the overbought 70 level at 75. This means that one could go long at current levels with an end of day close stop loss below the 50 day moving average at 260p. Indeed, a strong momentum trade is now on after the end of day close above the 2006 descending price channel at 275p. Assume an eventual 2004 resistance line target of 475p

Emerald Energy PLC
26 April 2006


Emerald Energy Plc


FOR IMMEDIATE RELEASE 26 April 2006


Operations Update - Syria


Emerald Energy Plc ('Emerald' or the 'Company') would like to provide the
following update:


Drilling of the Souedieh North No.1 exploration well has commenced. This
vertical well will be drilled to an approximate total depth of 2,260 metres with
the primary objective being Cretaceous reservoirs similar to those producing in
the adjacent Souedieh and Karachok oil fields. The drilling and logging of this
well should be completed within the next 30 days.


Emerald holds a 50% working interest in the contract for exploration and
production for Block 26, Syria, through SNG Overseas Ltd, a 100% owned
subsidiary. The operator of Block 26 and holder of the remaining 50% is
Gulfsands Petroleum Plc.


Alastair Beardsall, Emerald's Chairman, said:

'Souedieh North No.1 is the first of several exploration wells planned to be
drilled before August 2007 and marks the start of an exciting Block 26
exploration drilling campaign.'



Enquiries: Helen Manning 020 7925 2440

Spuds Syrian Exploration Well

RNS Number:9756B
Gulfsands Petroleum PLC
26 April 2006

26 April 2006

Gulfsands Petroleum PLC

("Gulfsands" or "the Company")

Gulfsands Commences Drilling Souedieh North Well in Block 26, Syria

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
announced today that the Company has commenced drilling the Souedieh North well
within Block 26, Syria.

Gulfsands, the operator and 50% working interest owner in Block 26, has
commenced the drilling of the Souedieh North exploration well located in the
northeast region of Block 26. This vertical well will be drilled to an
approximate total depth of 7,216 feet with the primary objective being
Cretaceous aged reservoirs similar to those producing in the adjacent Souedieh
and Karachok oil fields. This prospect has the potential to contain in excess
of 100 million barrels of recoverable oil (Gulfsands' internal estimate of
potential). The drilling and logging results for this well should be completed
within the next 30 days. The net cost to Gulfsands for drilling and evaluating
this well is approximately $800,000.

Gulfsands' CEO, John Dorrier, said:

"Souedieh North is the first well in our Block 26 exploration drilling campaign
and will test a low cost, high potential prospect in a reservoir that is
currently producing oil in adjacent fields. The Company utilized seismic
analysis from the adjacent Souedieh Field to identify the prospect and drilling
success here can be rapidly followed up in similar nearby prospects.
Furthermore, the Company has a large inventory of independent prospects
available for drilling during the coming months in its exploration and appraisal
work in Block 26, including the Tigris structure which is expected to commence
drilling this August."

Excellent break out, the last couple of days. We've now cleared all obstacles to attacking 2000's 500p level. If Souedieh North shows wet, we may get there sooner than we think. 30 days and counting . . .

sd

What a bargain The net cost to Gulfsands for drilling and evaluating the Souedieh North No.1 well is approximately $800,000.


Alastair Beardsall, Emerald's Chairman coments.

"Souedieh North No.1 is the first of several exploration wells planned to be
drilled before August 2007 and marks the start of an exciting Block 26
exploration drilling campaign."

..........................................................

Gulfsands' CEO, John Dorrier coments

'Souedieh North is the first well in our Block 26 exploration drilling campaign
and will test a low cost, high potential prospect in a reservoir that is
currently producing oil in adjacent fields. The Company utilized seismic
analysis from the adjacent Souedieh Field to identify the prospect and drilling
success here can be rapidly followed up in similar nearby prospects.
Furthermore, the Company has a large inventory of independent prospects
available for drilling during the coming months in its exploration and appraisal
work in Block 26, including the Tigris structure which is expected to commence
drilling this August.'

Third day in a row this share has been heading down,but i suppose it will bounce back.

Must be a knock on from Bolivia - concern over S.American resources being nationalised.

from website
http://www.emeraldenergy.com/OnP-CampRico_Vigia.htm
Centauro Sur Field

The Centauro Sur field lies to the southwest of Campo Rico field. The Centauro Sur #1 exploration well was drilled to a total depth of 11,265ft and is currently producing 250 bopd.


Edit why no RNS



Exploration

In the second half of 2005, Emerald completed the processing and interpretation of the 3D survey that covers some 172 sq km of the Campo Rico block. In addition to appraising the development potential of the existing fields, the survey was designed to identify new prospects in the block.

The Las Acacias prospect lies to the southwest of Vigia field. The Acacias #1 exploration well was spud in late April 2006 and is drilling ahead.

EEN begining to make up recent losses,a rumour that they have struck oil?
On the face of it, sounds a bit fanciful but source has a good track record.
Looking back at the RNS on 26th April, which stated Souedieh North No1
Exploration Well has commenced (when exactly?), total depth of 2260mtrs
should be drilled and "logged" "within 30 days" of when (start)?.
Now we don't know the exact date of spudding of well, substitute within 30 days for less than? take away logging time and ???
So perhaps not so faniciful after all, only time will tell.
cyril

The Acacias #1 exploration well was spud in late April 2006 and is drilling ahead.

Thanks DFGO.
Thats great news.
cyril

08/05/2006 16:35 UKREG Operations Update Colombia


RNS Number:6272C
Emerald Energy PLC
08 May 2006


Emerald Energy Plc - 8 May 2006


Operations Update - Colombia



Emerald Energy Plc ("Emerald" or the "Company") would like to provide the
following update:

Further to the information provided in 2005 Annual Report and Accounts with
regard to the drilling of the Centauro Sur prospect in the Campo Rico block, the
Centauro Sur No. 1 well has been completed for the test production and is
currently producing about 250 barrels of oil per day.


Enquiries: Helen Manning 020 7925 2440

Emerald Energy says Colombia's Centauro Sur No 1 well producing 250 bpd

LONDON (AFX) - Emerald Energy PLC said the No 1 well in the Centauro Sur
prospect in Colombia's Campo Rico block has now been completed for test
production and is currently producing about 250 barrels of oil per day.
newsdesk@afxnews.com
hjp

DFGO, i.ve got to hand it to you, spot on your previous post.
Now my previous post about the Syrian rumour,was all my own thoughts,have since looked around the various boards and other posters are thinking along the same lines.
Now do you have any ideas on the above?
cyril

niceonecyril
as you know I pick it up on the Emerald energy website @ 15.18 and posted on ADVFN and here before the RNS released hope you pick up a few before RNS came out


Rumours on advfn GPX thread oil have been found in Syria read philip444 posts
he has been right every time so far I have no reason to disbelieve him now

well spudded on or before 26/04/2006 07:01 UKREG Spuds Syrian Exploration Well
It took Emerald 14 days to drill Centauro Sur#1 to 7,416ft, so Philip444 in right time span he also said still driling so possibly it was 1 of the upper zone before getting to total depth.

DFGO,
Thanks for your reply, its how i see it. Unfortuately all funds tied up,
but i have my shares tucked away in an ISA so definately long term,looking for
10+.
Once again great spotting.
cyril

niceonecyril

31 prospects in syria EVO say tigris prospect worth 1200p with out Colombia, no
price given for 'Souedieh North prospect,Souedieh North prospect has the potential to contain in excess of 100 million barrels of recoverable oil (Gulfsands' internal estimate of potential).
With 31 prospect what price if 10 contain oil /gas a lot more than 10+, And Gigante output could increase to 1,500bopd with the new ESP pump.

I have a figure in mind but you might think i'm ramping.

I do believe it will be 6+ by end may Early June if not earlier
My opinion only but as always DYOR

Spudded 1 day before RNS

The Souedieh North #1 exploration well was spud on 25 April 2006 and is drilling ahead
http://www.emeraldenergy.com/OnP-Syria.htm

DFGO,
I think we are in for a blue day, won't be surprised to see a all time high?
With about 2 weeks left before the completion of S/N Well, PI's will start to take
up positions t25'S followed by the t10's, so could be fruitful times ahead.
cyril

niceonecyril

copied from advfn

stevea171 - 9 May'06 - 10:49 - 13727 of 13728


Drill at Souedieh North #1 continuing. TD 7200 ft. It is interesting that the Ryder Scott estimate of 100 mbo recoverable makes it only the 8th largest potential deposit that has so far been identified in Syria Block 26 and subject to exploration by Gulfsands and Emerald. It is the largest of the higher level prospects and is adjacent to all the Souedieh infrastructure incl pipeline.

The list of 31 prospects includes the following:

Souedieh Tigris .... 550 pmbo
Hamzeh (Deep) ...... 210 pmbo
Haydar Deep ........ 110 pmbo
Maghlatja Deep...... 140 pmbo
Khirbir Deep ....... 120 pmbo
Nur Deep ........... 110 pmbo
Al Barde Deep ...... 100 pmbo
Souedieh North ..... 100 pmbo

Oil quality is expected to be medium gravity which should command a good price with light oil at $60-75 bo. If SN #1 is successful the rig is contracted for a possible second drill immediately following on. Rig availability is an issue world wide and this agreement will allow the possibility of drilling the first 3 wells in Block 26 in May, June, and Aug-Sept/Oct.

Within the next few years Gulfsands and Emerald could be involved in drilling dozens of wells into these structures if there is early success, and after a short time production would potentially pay for most of the development costs.
With major oil structures all around this is far from wildcatting. Industry stats of success of an av. 1 in 7 could be knocked into a cocked hat, like Emerald is experiencing with its current drilling in Colombia.

These companies have realistic chances of being BUR's, or CNE's within a short timescale as their 31 prospects have the following advantages;

Landbased
7,000 or 14,000 ft depth
Known geology (at shallow depth)
Close to existing infrastructure that has spare capacity
Close to European markets
Government support as Syrian total production is falling significantly

To give some idea of the scale and prospectivity of this area it is worth reviewing some of the details of Souedieh Tigris which is scheduled for spudding in late August:

The structure size is huge, potentially 75 sq km.
9 potentially productive zones
Evo place a share value to Emerald of 12 for Tigris alone, if successful

*******************************************************************************

Extract from Gulfsands RNS of 30/1/06:

The Tigris structure is of a significant size, potentially as large as some 75 square kilometres, and only one well bore currently exists on the structure.

It is difficult to assess the full reserve potential within Proved, Probable and Possible Reserves at this time. However, based on the data that are currently available, the Ryder Scott report concludes that there are nine potentially productive zones contained within Palaeozoic age reservoirs found in the existing well bore on the Tigris structure.

The report classifies 883 BCFG as Probable and Possible Reserves if the Tigris structure is primarily a natural gas accumulation. The report classifies 104 MMBO and 64 BCFG as Possible Reserves in these zones if the Tigris structure is primarily an oil accumulation.

The report further classifies an additional 3447 BCFG as an unrisked Prospective Resource within the gas case or 408 MMBO and 245 BCFG as an unrisked Prospective Resource in the oil case. The Prospective Resource was based on potential resources below the base of the hydrocarbon bearing zones encountered in the existing well bore, as a definitive water contact is not identified with the existing data.

In summary, the natural gas case equates to total reserves potential among Probable, Possible and Prospective Resource as 4330 BCFG (722 MMBOE), while the oil case equates to 512 MMBO and 308 BCFG (combined 563 MMBOE). Gulfsands' 50% working interest in Block 26 and the Tigris reserves are subject to the fiscal terms of this Production Sharing Contract.

Following this initial review, Ryder Scott will undertake a further review of the field development plan and costs, to quantify the economic value of the Probable and Possible Reserves and Prospective Resource.

John Dorrier, CEO of Gulfsands Petroleum, said:

"This independent study confirms our conclusion that Block 26 contains probable pay in Palaeozoic reservoirs and significantly increases the Company's overall reserves. The report further demonstrates the lower risk associated with finding large oil and gas reserves in Block 26 and increases the total Block potential significantly."

DFGO;
Had a quick look, it just gets betterer and betterer. One point if Tigris is worth 12 alone and represents 38% of total estimated reserves then a SP of 30's
would be in order.
cyril
ps; and of course Columbia

niceonecyril

Hope your still in.
8 days to AGM 26 May.

News on Syria should be good,if duster would have heard by now imo.
Colombia news due as well.

but as always dyor.

DFGO,
Had trouble with the PC, still holding. Keeping in my ISA, long term.
30 days from 25th(date of spudding) should get some news prior to the
AGM.
cyril

niceonecyril

most of mine in nominee a/c ,still in profit lost a load on paper over the last week
but holding tightly.

The fundamentals are good,oil still around $69 to $70 a barrel,Emeralds still pumping oil and making money.

nice bounce today up 18.7% from yesterday

only 3 days to AGM and hopefully news before then on Colombia and Syria

Emerald Energy Plc


FOR IMMEDIATE RELEASE 24 May 2006


Operations Update - Syria


Emerald Energy Plc ('Emerald' or the 'Company') would like to provide the
following update:


The Souedieh North well in Block 26, Syria has been drilled to a depth of 7,298
feet. While drilling, the well encountered a series of live oil and gas shows.
Wireline logs of the Tertiary reservoir section of the well indicate hydrocarbon
bearing zones.

The operator is currently preparing to obtain wireline log data over the
Cretaceous reservoir section in the well after setting an intermediate string of
casing over the Tertiary section to maintain wellbore stability.


Further results from the well should be forthcoming within the next few weeks.


Alastair Beardsall, Emerald's Chairman, said:

'Initial results of the Souedieh North No.1 well are very encouraging; further
logging and testing of the well is required to fully evaluate it.'


Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas
Ltd.


Enquiries: Helen Manning 020 7925 2440






This information is provided by RNS
The company news service from the London Stock Exchange

Emerald Energy Plc


FOR IMMEDIATE RELEASE 24 May 2006


Operations Update - Colombia


Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:


Exploration


The Las Acacias No.1 exploration well has been drilled to a total depth of
10,930 ft. The Las Acacias prospect is located to the south of the Vigia field.
Wireline logs identified a potential hydrocarbon zone, casing has been run and
cemented and the well is being prepared for production testing. Saxon Rig 223
will then be moved to drill Las Acacias No.2 and drilling should commence early
June 2006.


Centauro Sur No.1 exploration well continues to produce at approximately 250
bopd and a second well on the Centauro Sur field is being planned for later in
2006.


Production


Daily gross production for 1st quarter 2006 averaged 4,400 bopd. During April
and May production continued to be impaired by the failures of rented surface
hydraulic pumps at the Campo Rico and Vigia fields and, in addition, the failure
of downhole pumps in Vigia No.1 and Campo Rico No.1 wells. These wells during
1st quarter 2006 produced at an average rate of 954 bopd and 760 bopd
respectively and when removed from production had a significant impact. Average
production for May to date is 3,400 bopd.


The downhole pump in Campo Rico No.1 has been replaced and the well returned to
production. Vigia No.1 is being worked over and an electric submersible pump
installed to replace the downhole jet pump; it is expected that the well will be
returned to production by end of May. New surface hydraulic pumps have been
purchased for the Campo Rico and Vigia fields as planned and will be installed
during June 2006.


The Company is preparing to replace hydraulic jet pumps at Campo Rico No.1, 2
and 3 wells with electric submersible pumps to improve the reliability of
production levels.



Alastair Beardsall, Emerald's Chairman, said:

'We have started a programme to replace our production equipment, both at
surface and downhole, to reverse the recent decline in production and to improve
the reliability of our operations. This programme will take several weeks to
complete and will result in a better operation of Emeralds assets.'


Enquiries: Helen Manning 020 7925 2440


This information is provided by RNS
The company news service from the London Stock Exchange

Emerald Energy Plc


FOR IMMEDIATE RELEASE 24 May 2006


Operations Update - Colombia


Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:


Exploration


The Las Acacias No.1 exploration well has been drilled to a total depth of
10,930 ft. The Las Acacias prospect is located to the south of the Vigia field.
Wireline logs identified a potential hydrocarbon zone, casing has been run and
cemented and the well is being prepared for production testing. Saxon Rig 223
will then be moved to drill Las Acacias No.2 and drilling should commence early
June 2006.


Centauro Sur No.1 exploration well continues to produce at approximately 250
bopd and a second well on the Centauro Sur field is being planned for later in
2006.

Saxon Rig 223 will then be moved to drill Las Acacias No.2 and drilling should commence early June 2006.

Emeralds partener

Gulfsands Petroleum PLC
24 May 2006

24 May 2006


Gulfsands Petroleum PLC
('Gulfsands' or 'the Company')


Preliminary Results from Souedieh North Well in Syria


Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
is pleased to announce that the Company has drilled the Souedieh North well in
Block 26, Syria to a total depth of 7,298 feet. While drilling, the well
encountered a series of live oil and gas shows in both the primary and the
secondary reservoir objectives and wireline electric logs analysis indicates oil
bearing pay within this well. Gulfsands is the operator and 50% working
interest owner in Block 26.


Live oil and gas shows were encountered while drilling through the secondary
objective Tertiary-age reservoirs. Electric wireline logs have been run in the
Tertiary reservoir section of the well and independent log analysis indicates
some 61 feet of potential net oil pay over a gross interval of 142 feet.
Acquisition of additional information is required to determine the potential
significance of this zone.


Live oil and gas shows were also encountered while drilling through the primary
objective Cretaceous-age reservoirs. The Company is currently preparing to
obtain wireline log data over the Cretaceous reservoir section in the well after
setting an intermediate string of casing over the Tertiary section to maintain
wellbore stability.


Further results from the well should be forthcoming within the next few weeks.


Gulfsands' CEO, John Dorrier, said:


'Initial results of the Souedieh North-1 well are very encouraging. We expect
further electric logging and testing of the well during the next several weeks
to confirm the well is a commercial oil discovery.'

OIL strike at SN in Syria,great news,right on dfgo.

Emerald's Colombian ops daily gross output down due to pump failures in Apr, May
AFX


LONDON (AFX) - Emerald Energy PLC said daily gross production at its Colombian operations in the first quarter this year averaged 4,400 bopd while April and May production continued to be hit by pump failures.

In a statement, the company said average production for May to date fell to 3,400 bopd, hit by the pump failures at the Campo Rico and Vigia fields.

These wells produced an average 954 bopd and 760 respectively in the first quarter.

Chairman Alastair Beardsall said: 'We have started a programme to replace our production equipment, both at surface and downhole, to reverse the recent decline in production and to improve the reliability of our operations.

'This programme will take several weeks to complete and will result in a better operation of Emeralds assets.'

The company said wireline logs at the Las Acacias No 1 exploration well identified a potential hydrocarbon zone, and the well is being prepared for production testing.

A rig will then be moved to drill Las Acacias No.2 and drilling should commence early June 2006.

It said Centauro Sur No.1 exploration well continues to produce at about 250 bopd and a second well on the Centauro Sur field is being planned for later in 2006.

All in all a fabulous daty for EEN.
Syrian news is really exciting,as good as one could expect.
Columbian problems, annoying but thats all.Near future with upgraded equipment,
flow rates doubling is possible.
Off out to toast my only success.
Bring on IEC, production output expected.
cyril

rumour EEN merging with Gulfsands/taking over Gulfsands

From Oilbarrel
http://tinyurl.com/lxs5x



25.05.2006
Gulfsands And Emerald Boosted By Early Exploration Results From Syria
Shares in Gulfsands Petroleum added 9 pence, or 6 per cent, to 159 pence on Wednesday when preliminary well results appeared to indicate a promising oil strike in Syria amid rumours of a possible bid for the AIM-quoted firm. Its 50/50 partner in Syria, Emerald Energy, also gained, surging 24.25 pence to 289 pence as it released positive news from the Middle East and Colombia.

The Syrian project has long excited Gulfsands followers. The company holds producing assets in the US and can boast an MoU for a large gas monetization project in southern Iraq but it is the companys operatorship of Block 26 in Syria that has promised the near-term exploration excitement.

That promise started to look a little firmer yesterday when the company announced it had drilled the Souedieh North-1 well to a total depth of
7,298 ft, encountering a series of live oil and gas shows in the primary and secondary reservoir objectives on the way down.

The company has identified a shallow secondary Tertiary-age reservoir, with 61 feet of net oil pay over a gross interval of 142 feet. According to the companys brokers Teather & Greenwood, this reservoir is close to water-containing rocks and as such there is a chance there could be some degradation of the oil, which could have a low API and poor recoverability.

However, the Tertiary is a bonus because the real objective of drilling Souedieh North was always the deeper Cretaceous-age reservoirs. And this is where the news gets really good. Live oil and gas shows were encountered while drilling through this interval and two potential oil and gas zones have been identified. Teather & Greenwood report that this interval appears to be larger than expected: the well carried a pre-drill expectation of 100 million barrels of recoverable oil in the Cretaceous, which may now prove conservative, while there are additional reserves in the Tertiary.

Gulfsands chief executive John Dorrier said the results were very encouraging. We expect further electric logging and testing of the well during the next several weeks to confirm the well is a commercial oil discovery."

Those results will be eagerly anticipated by investors and, if positive, will go some way to de-risking some of the 31 other prospects identified on the 11,000 sq km block. The next well to spud on the acreage is the Tigris prospect, which underlies the Souedieh field.

Tigris was previously drilled by state oil firm SPC but the well ran into difficulties (it took 15 months to drill) and despite finding potential hydrocarbon-bearing zones was never tested. This is a large structure and could hold more than 500 million barrels of oil equivalent. The proof will, of course, lie with the drillbit and there isnt long to wait: the well is scheduled to spud in August.

Emerald Energy, in a departure from its strategy of focusing on Colombia, joined Gulfsands in Syria last year. Given yesterdays news, that move looks increasingly astute. The company is also making progress in the South American country: yesterday it announced Las Acacias-1 well had reached total depth of 10,930 ft, encountering a potential hydrocarbon zone on the way down. The well is now being prepared for production testing, after which the rig will sink the Las Acacias-2 appraisal. In the meantime the Centauro Sur-1 exploration well is producing around 250 barrels of oil per day and a second well is being planned for the structure later this year.

Less positive for Emerald investors, however, are the recent production numbers (although confirmation of a major oil strike in Syria will offset these niggles in Colombia). Output for the first quarter averaged 4,400 bpd but has since declined to around 3,400 bpd due to equipment failures on the Campo Rico and Vigia fields. A downhole pump on the Campo Rico-1 well has been replaced and the well returned to production. Vigia-1 is being worked over and should return to production by the end of the month. New surface hydraulic pumps have been purchased for the fields and will be installed during June. The company also intends to install electric submersible pumps downhole to improve the reliability of production levels. Even so, depending on the next set of well results, this could become something of sideshow to the main attraction in the Middle East.
< back

Should be a very interesting AGM tomorrow, so m many issues to clear up.
cyril

copied from advfn

stevea171 - 25 May'06 - 14:36 - 1945 of 1980


Sommet2. Some facts I published on Emerald board recently:

Just looking at a few metrics wrt Emerald and Gulfsands.

With Gulfsands reporting last Monday and both having a year end of 31/12, it is now possible to do the comparison on an up to date basis for the first time in a while:

..............................Emerald $m..................Gulfsands $m
........................2003.....2004......2005......2003.....2004.....2005
Sales................. 5.0......12.6.......32.1........6.9......33.1......45.0
Profit before tax...0.3...... 3.6........ 8.1........(2.1).....3.5.......1.5
Profit after tax..... 0.1...... 5.0........ 4.2........(2.1).....1.6......(3.9)
EPS................... 0.3c.....11.3c..... 8.2c...................2c......(5c)
Net cash.........................23.6.......20.7.................19.6......36.6
Shares in issue mil..........49.5m.....56.0m...........................93.5m
Share Price.................................270p.............................154p
Capitalization Stg.......................151m.............................144m
P/E Ratio.....................................57.................................NA
Reserves, ex Syria 2P.................14.5mbo.........................32bcf
Reserves, Tigris gas 2P...............221bcf...........................221bcf
PEP/ISAable............................... Yes.........................No



**********************************************************************************
stevea171 - 21 May'06 - 11:44 - 14397 of 14406 edit

Present valuation v's reserves.

In reaching valuations of O&G companies, reserves is the most important measure. We know that Emerald uses particularly conservative reserves estimates iso Gigante and CR block (Gigante in particular is a joke!). However let us just take the company figures at face value and see where that leads us.

Reserves, 2P Colombia: 14.5 mbo
Reserves, 2P Tigris: 221 bcf (@.1781 to 1mbo) = 39.5 mboe
Total Reserves: 54 mbo/mboe

Using a conservative valuation of $7.5/barrel oil in ground (valuations confirmed by actual oil asset sales are improving all the time due to the rising price of oil):

Valuation of reserves: 54 x $7.5 = $405 m = 217 million
Present Market Cap at 270p: 151 million

So ignoring Emerald's $20 m cash at 31/12, the present company valuation is 30% below a reasonable valuation of its current 2P reserves.

Share price corresponding to fair reserves valuation: 387p

If we now assume success at Souedieh North, where results could be announced at any time, in line with estimates of 100 mbo recoverable, 50 mbo to Emerald, then this would almost double the reserves to 104 mbo/mboe.

Fair corresponding sp for Emerald's 2P reserves, incl Souedieh North: 745p

Roll on drilling news in Block 26.

Re above arithmetic . . .

Deduct 20 cash from market cap to get 121m, which is 45% below resereves valuation.

Conversely, add 20m to reserves valuation = 237m, divided by 56m shares is 4.23 per share.

Plus Syrian values as well, of course.

Looking good to hold for the medium, if not long, term.

sd

Prospects for this Company look good. However as a possible investor I have two concerns.
1. The political risk for which there needs to be an acceptable risk premium.
2. All Directors have been awarded large generous stock options but apart from one small holding owned by one director the rest do not own any shares in the Company.

I guess we just await outcome off the following.

A detailed study of the drilling, wireline and sidewall core data from the well
is being undertaken with a review of the seismic data over the area. The well
will be suspended in order to complete these studies and determine if these
reservoirs may be suitable for a fracture stimulation, or similar, testing
program, or whether the well should be deepened. No production testing has been
performed on the well but may be considered as part of any future testing
program after these further analyses have been completed.




Drilling Report

RNS Number:9511D
Emerald Energy PLC
02 June 2006





Emerald Energy Plc


FOR IMMEDIATE RELEASE 2 June 2006

Operations Update - Syria - Souedieh North No.1 Well

Emerald Energy Plc ("Emerald" or the "Company") would like to provide the
following update:

The drilling of Souedieh North exploration well in Block 26 Syria has been
completed. While drilling a series of hydrocarbon shows were recorded and
analysis of the electric wireline logs in the Tertiary and Cretaceous reservoir
sections of the well indicate potential hydrocarbon zones. However, wireline
conveyed sampling tools did not recover any hydrocarbon fluids. Preliminary
analysis indicates that the hydrocarbon is low API gravity oil with a high
viscosity and the low porosity and permeability reservoirs may produce fluid
after mechanical or chemical stimulation.

A detailed study of the drilling, wireline and sidewall core data from the well
is being undertaken with a review of the seismic data over the area. The well
will be suspended in order to complete these studies and determine if these
reservoirs may be suitable for a fracture stimulation, or similar, testing
program, or whether the well should be deepened. No production testing has been
performed on the well but may be considered as part of any future testing
program after these further analyses have been completed.

Alastair Beardsall, Emerald's Chairman, said:

"It is frustrating to see shows while drilling, and record an apparent
hydrocarbon column on the wireline logs, yet not be able to recover any
hydrocarbon fluids. We shall study the results from the well and determine any
further work program accordingly. The evidence from the Souedieh North well is
encouraging and will help to evaluate the other Cretaceous leads on Block 26.
Our efforts and attention will now move to the drilling of Tigris No.1 that is
scheduled to start in August"

Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas
Ltd.

Enquiries: Helen Manning 020 7925 2440


Gulfsands Petroleum PLC
02 June 2006

2 June 2006



Gulfsands Petroleum PLC
('Gulfsands' or 'the Company')


Gulfsands Completes Drilling Operations on Souedieh North Well


Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
announces that the Company has concluded initial drilling operations and has
suspended the Souedieh North well in Block 26, Syria pending further analysis of
the well data.


As reported previously, the well encountered a series of live oil and gas shows
in both the primary and the secondary reservoir objectives while drilling.
Wireline electric logs were run within both the primary and secondary
objectives, Tertiary and Cretaceous reservoirs, which indicated oil-bearing pay
zones within both objectives. However, wireline fluid tests of these intervals
did not recover moveable oil. Preliminary analysis shows that the oil is low
API gravity/high viscosity in the Tertiary reservoirs, and that the lower
porosity and permeability Cretaceous reservoirs at this location may produce oil
after mechanical or chemical stimulation. Gulfsands is the operator and 50%
working interest owner in Block 26.


Independent log analysis of the electric wireline logs in both the Tertiary and
Cretaceous reservoir sections of the well indicated some 80 feet of potential
net oil pay. Although live oil was collected in the samples during drilling, no
oil was recovered during wireline tests of these zones. A full review of the
drilling, sample, wireline and sidewall core data is being undertaken, in
conjunction with a further review of the seismic data over the area. Due to the
apparent oil column seen in this well the Company has decided to suspend the
well in order to complete these studies and determine if these reservoirs are
candidates for fracture stimulation or a similar stimulation testing program, or
whether the well should be deepened. No production testing has been performed
on the well but will be considered as part of a future testing program after
these further analyses have been completed.



Gulfsands' CEO, John Dorrier, said:



'We are disappointed not to recover movable oil in this well after encountering
good oil shows while drilling and recording an apparent oil column on the
wireline logs. Further work on the information gathered in this well may
justify further testing, stimulation or deepening operations in the well, and
will certainly be very useful in evaluating the numerous other prospects seen on
the block. The geologic and operations data gathered during drilling Souedieh
North will certainly help in the drilling of the Tigris-1 well scheduled for
August this year.'




Enquiries:
Gulfsands Petroleum (Houston) 001-713-626-9564
David DeCort, Chief Financial Officer

College Hill (London) 020-7457-2020
Ben Brewerton
Nick Elwes

Teather & Greenwood (London) 020-7426-9000
James Maxwell (Corporate Finance)
Tanya Clarke (Specialist Sales)



NB: This release has been approved by Jason Oden, Gulfsands Exploration Manager
who has a Bachelor of Science degree in Geophysics with 22 years of experience
in petroleum exploration and management and is registered as a Professional
Geophysicist. Mr. Oden of Gulfsands and also Peter Hitchens on behalf of
Teather & Greenwood Limited, the Company's Nominated Advisor, have consented to
the inclusion of the material in the form and context in which it appears.

DFGO - 21 Jun'06 - 14:47 - 17082 of 17208 edit

chestnuts
Emerald produced 460,000BBL in 1st half 2005
1st Jan 2005 to 30 June 2005 = 181 producing days.
460,000 divide by 181 days = 2541bopd.

2541bopd averge 1st half 2005, minus CR#1 production 1750bopd [13/4/06 the last production figure shown for CR#1 prior to 03/6/05] = 791barrels minus Gigante#1 production 725bopd [13/4/06 the last production figure shown for
Gigante#1 prior to 03/6/05] = a combined 66bopd from CR#2#3 and V#1

1st Qtr 2006 Emerald average 4400bopd x 90days = 396,000bbl produced 1st Qtr Ref 24/5/06 RNS

In the following i have not allowed for any production from V#1 or CR#1
April 2006 4400bopd minus V#1 954bopd [due to pump problem] = average 3446bopd and minus CR#1 760bopd [due to pump problem]= average 2686bopd x 30 days = 80,580bbl produced for April

Emerald RNS 24/5/06 said Average for May to date 3400bopd.

Taking Emeralds 3400bopd x 61days [May and June]= 207,400bbl produced.


1st Qtr 396,000bbl + April 80,580bbl + May and June 207400 = 683,980bbl for Qtr against, 460,000 1st half 2005

and Silfide CS#1 LA#1 are not included.
And V#1 not included since end of March.

but as always dyor

edit CR#1 included in May and June

But as always dyor

DFGO,
Souedieh's failure to produce while having live oil shows is a bit of a worry for me.I seem to remember reading somewhere(can't find article)that the Syrians
drilled Tigris and found real problems, in fact if my memory serves me right it
took 6/9 months before abandoning their efforts.Just wondering if their's any
similarity with Souedieh's difficulties?
With Drilling Rig's being so scarce i believe holding onto a rig to sort out any
problems might be an issue? Wondering if you can put any light on my concerns?
I'm happy with EEN on Colombian output alone, but feel as much weight is placed
upon Tigris that any such problems would have quite a short term effect on the
SP.
cyril

Tigris is a dangerous venture!

niceonecyril
Imo

Emeralds share price includes nothing for syria at this price.

Another successful well in Colombia



Emerald Energy PLC
14 July 2006


Emerald Energy Plc - 14 July 2006

Drilling Report

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:

The Company has completed drilling of the Centauro Sur No. 2 appraisal well in
its Campo Rico block in Colombia. The well has been drilled to a total depth of
10,865 feet, completed for testing with an electrical submersible pump and in
the first 24 hours of steady test production produced in excess of 700 barrels
of oil.

Alastair Beardsall, Emerald's Chairman, said: 'We are pleased to have confirmed
the production potential of the Centauro Sur field, discovered earlier in the
year.'

Emerald Energy confirms production potential of Centauro well in Colombia
AFX


LONDON (AFX) - Emerald Energy PLC said its Centauro Sur No. 2 appraisal well in its Campo Rico block in Colombia produced over 700 barrels of oil in the first 24 hours of steady test production.

The well was drilled to a total depth of 10,865 feet.

Chairman Alastair Beardsall said: 'We are pleased to have confirmed the production potential of the Centauro Sur field, discovered earlier in the year.'

This is another new oil field for Emerald in Colombia

EEN still looks very weak and has done little to shake off the image they had a few years ago.

It looks to me to be heading lower still. Fair value around 50p?

Haystack - I disagree, looking at the chart. The SP has not breached the long-term uptrend from Jan 2004 and has moved since then within a fairly reliable upward channel bounded at the top by the twin peaks of April 2004 and 2006.

Not bad after a dry well in Syria and general market malaise since May. On the other hand, if you think Syria is totally dry, sell now.

sd

1stly Haystack is talking b******s and is undoubtably a deramper.

My concern is Syria, while most of the SP is down to Columbia, i feel any association with the above will have a negative effect.
Still a few question remain unanswered but i feel confident that EEN will
deliver.
cyril

I have been following EEN for many years and have owned their shares several times and they have never delivered, particularly in Columbia.

(I have no position in EEN and have not had one for years now).

so why deramp are you short then

you have been banned on advfn it about time moneyam banned you

I am not deramping EEN. I just have some comments which happen to be negative.

Do you only like to read positive views? That is a risky investment strategy.

I am neither short nor long on EEN and have no intention of being. EEN is a stock that I would avoid.

Haystack has never have any positive news on any shares...he is so pessimistic...can you name me one share that you are positive of, Haystack?

I have posted plenty of positive comments of stocks. That has not applied to EEN for years though.

Haystack

whats your opinion on EEN with the new pumps fitted, producing 10,000bopd from Colombia by year end

Haystack

whats your opinion on EEN with the new pumps fitted, producing 10,000bopd from Colombia by year end

Slight echo on this thread!

Still heading down

Still heading up!

I am inclined to say.

Still falling!

If charts were the only way of investing, it might make things a lot easier,
however that is not the case. Looking at the short term charts it does not look good for EEN,but as we all know what goes up, must come down and vise- versa.
A better guide is the long term chart which clearly shows a steady climb, with
each drop creating a lower bottom.
It is news,results and sentiment which drive the SP. Now anyone who has bothered to research EEN will understand some of the reasons for recent decline.
The ME conflict hasn't helped along with a poor result form the Souediieh North Well,but the main reason imho is the fall in production of oil from its Colombian
fields.This due intirely to rework of their wells, mostly new Electric Submersible Pump's and a new generator at Gigante( plus refurbishing of the downhole pipe) being fitted. These ESP's have replaced the old downhole pumps,which have been responsible for falling output. With production reduced from an average 4400bopd to a lowerly 3400bopd, already we can see a improvement in output via Gigante and with all the wells updated news of increased output is imminent and levels of perhaps 7000bopd will have be achieved.

So "What will the SP be then"? Or to repeat DFGO's question what price at years end when 10000bopd is reached, of which "i've yet to see an answer"?
cyril
P.S.Could be a great buying opportunity??

http://www.investegate.co.uk/Article.aspx?id=200605240701154806D

The above doesn't seem to be working, try
www.uk-wire.co.uk
cyril

DFGO - 4 Aug'06 - 12:37 - 18449 of 18466 edit


Mad,blueforce
all following as per company RNS.

2005 interim results Emerald Averaged 2,745bopd x 181 days = 496,845 barrels for half 1 2005.

1st qtr [Jan,Feb,Mar] 2006 Emerald average 4,400bopd x 90 days = 396,000 barrels.

April 2006 [4,400bopd minus 954bopd for Vigia#1 and 760bopd Campo Rico#1 ref 24/5/06 RNS = 2,686bopd x 30 days = 80,580 barrels for April.

May 2006 Ref 24/5/06 RNS average 3,400bopd including with CR#1 jet pump replaced x 31 days = 105,400 barrels.
Vigia#1 being worked over and ESP installed, V#1 expected to be in production by end of May.

June. no RNS to say Vigia#1 producing x amount so kept same as May nothing allowed for Vigia#1.
June 3,400bopd x 30 days 102,000 barrels.

1st qtr. 396,000 barrels.
April. 80,580 barrels.
May. 105,400 barrels.
June.102,000 barrels.
total 683,900 barrels minus 496,845 barrels 1st half 2005 = 187,055 barrels more than H1 2005 and not including production from Vigia#1 for June 2006.

@$50 a barrel = $9,352,750 more turnover than H1 2005

24/5/05 Colombia update rns
http://www.advfn.com/p.php?pid=nmona&cb=1154688293&article=15539777&symbol=LSE%3AEEN
2005 interims RNS
http://www.advfn.com/p.php?pid=nmona&cb=1154691033&article=12620250&symbol=LSE%3AEEN

blueforce - 4 Aug'06 - 15:03 - 18452 of 18466


DFGO - 4 Aug'06 - 12:37 - 18449 of 18451

Thanks for the figures, but is all that production attributable to een? Remember the Colombian national oil company have excercised their right to back into some of our production wells and may well do same for the likes of Gigante in the future

Felix
----------------------------------------------------------------------

DFGO - 4 Aug'06 - 15:33 - 18456 of 18466 edit


Blueforce

Emerald got 64% of production in 2005 for Camp Rico in 2006 Emerald get 69%
[75% before royalty] for Campo Rico so in fact Emerald are 5% better off than 2005

From 2005 final results page 12

2.b Entitlement production
Entitlement production is production to which Emerald is entitled in any
given period. Entitlement production excludes royalty petroleum and any
other production that belongs to Ecopetrol and other parties forming the
Associate under the terms of the association contracts.
In 2005, Emerald was entitled to 80% of production from the Gigante field (2004: 80%); 92% of production from the Vigia field (2004: no production) and to 64% of production from the Campo Rico field (2004: 92%).
On 28 December 2005,Ecopetrol granted the Campo Rico field the commerciality status.
Upon grant of the commerciality status, Emerald's entitlement to production from the Campo Rico field has changed to 69% (75% before royalty). This entitlement will continue until Emerald has recovered the allowable reimbursable costs,whereupon Emerald will become entitled to 46% (50% before royalty) of production from the Campo Rico field.

DFGO - 4 Aug'06 - 16:04 - 18459 of 18466 edit


bob
H2 2006 allowing 20% for ESP
Campo Rico#1#2##3 @ 800bopd each till year end 800bopd x 3 = 2,400bopd x 182 days = 436,800 barrels.
Vigia#1#2#3 @1,100bopd each - ditto -1,100 x 3 = 3,300 x 182 days = 600,000 barrels.
Gigante#1 1,000bopd x 182 days = 182,000 barrels
Centauro#1#2 1,000bopd combined output 1,000bopd x 182 days = 182,000 barrels

Campo Rico 436,800.
Vigia 600,000.
Gigante 182,000
Centauro 182,000
Total H2 1,400,800 barrels
plus total H1 684,580

2006 total for year 2,085,380 barrels against 2005 1.2million barrels

but as always dyor
------------------------------------------------------------


bobobob5 - 4 Aug'06 - 16:11 - 18462 of 18466


DFGO: I'd personally consider your H2 bopd assumptions (above) to be something like a 'low-end' forecast. But even so, the increase from H1 to H2 is strong, approximately 100% gain. bob

A nice steady rise in the SP of late, DFGO's posts give an insight to the true
potential. An RNS confirming the success of the recent work overs can't be
a very off, and what price then?
cyril

niceonecyril

not long to interims now 28/9 last year

DFGO, So about 6 weeks then, if thier past pattern of news flow is anything to go by, we could get an Operational update maybe coming with an announcement on
the spudding of Tigris? Looking for in excess of 6000bopd with perhaps the latest reserve position coming in the interims. Still no great time scale before we have
definate news, just a little more patience required.
cyril

Todays RNS of about 4100 bopd(from 8 wells)(6 wells in Nov were producing
4300bopd) is a great disappointment,not much short term regarding Colombia, The main hope must now be with Tigris which is expected to spud next month, although this is deep well, and will take several months to drill.
One consolation is of high oil prices which will help justify the SP
Not sure what interim results can add todays news? Perhaps an explanation of
the poor output figures, with Vigra producing only 650 bopd being the likely cause?
cyril

It looks like it might get to my 50p valuation sooner than I thought.

"it had to abandon a number of prospective wells after negative tests"

Haystock talking B*****ks again, 4100bopd is still not to be sneezed at.More
ESP's to be installed which probably means some wells are shut down short term?
Would be interested in your calculations which allows your of 50p?
cyril

Whilst I do agree that Haystack is blowing smoke, the RNS does say that all 6 CR and V wells are 'on production'. CS1 and Silfide are off, but there's still a 200+ bopd reduction in output of CR&V combined since May. Cyril what do your reckon is going on?

niceonecyril
cyril
bobobob5 on advfn found this on oil gas journal
http://www.ogj.com/display_article/266634/ARTCL/none/Colombia/

http://www.ogj.com/category/online_subcategory.cfm?p=7&cat=ExplD&maxrows=21

August 21, 2006 10:51 AM
Emerald Energy PLC, London, is designing a 40 sq km 3D seismic survey for the 1990s Gigante oil discovery in the Upper Magdalena Valley.

Colombia

By OGJ editors

HOUSTON, Aug. 21 -- Emerald Energy PLC, London, is designing a 40 sq km 3D seismic survey for the 1990s Gigante oil discovery in the Upper Magdalena Valley.

Drilling of Gigante-2, however, is not expected to start before the end of 2007 because a special rig and tubulars will be needed to drill to around 15,500 ft.

Emerald asked state Ecopetrol whether it intends to participate for its 50% working interest in the new well but may drill the well sole risk if Ecopetrol declines.

Gigante, on the Matambo Association Contract, has 60 million bbl of 30 gravity oil in fractured Cretaceous Tetuan at 13,000 ft and as much as 500 million bbl of oil in Cretaceous Caballos sandstone at 15,500 ft, Emerald said (OGJ, Sept. 13, 1999, p. 107).

It said the structure might extend onto an adjoining block.

60mbbl valued at $5 in the ground at $1.90/1.00 = 160m compared to 125m market cap.

Add in just 100mbbl from lower level makes this 420m.

Plus the other producing Colombian wells.

Oh, and maybe Syria will prove to worth a few bob one day.

Come on, Haystack, now show us your arithmetic.

sd

Operations Update - Syria

RNS Number:7388I
Emerald Energy PLC
11 September 2006


Emerald Energy Plc


FOR IMMEDIATE RELEASE 11 September 2006


Operations Update - Syria


Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce the
commencement of drilling on the Tigris prospect within Block 26, Syria.


The Tigris structure is located in the northeast region of Block 26 directly
underlying the Souedieh Field, the largest known oil field in Syria. The Tigris
No.1 exploration well is expected to take 90 to 120 days to drill and evaluate.
It will be a vertical well drilled to an approximate depth of 4,500 metres.


Tigris No.1 will be the second well to penetrate the Carboniferous and Devonian
aged reservoirs of the Tigris structure. The S1100 well, drilled in 1994 by the
Syrian Petroleum Company and located approximately 1 kilometre northeast of the
Tigris No.1 well, was the first well to intersect these reservoirs within this
structure. Independent interpretation of the wireline logs from the S1100 well
indicates a substantial hydrocarbon column.


Ryder Scott Company, L.P. completed a reserves study and valuation of the
potential Probable and Possible reserves (unrisked) for the Tigris structure in
Block 26, Syria; these reports can be viewed on Emeralds' website at
www.emeraldenergy.com.


Tigris No.1 is the second of four commitment wells to be drilled during the
initial exploration phase of the contract for Block 26 that ends in August 2007


Emeralds' Chairman, Alastair Beardsall, said:


"We believe the data from the S1100 well indicates Tigris contains hydrocarbons;
the drilling and testing of Tigris No.1 will determine if the mapped reservoirs
contain sufficient reserves that can be produced at commercial flow rates for
the Tigris structure to be developed. In addition to Tigris, a number of leads
and prospects are being evaluated, the best of which will be selected for our
future drilling program."



Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG
Overseas Ltd.



Enquiries: Helen Manning 020 7925 2440

Emerald Energy 50% partenters Gulfsands Drilling Report



RNS Number:7239I
Gulfsands Petroleum PLC
11 September 2006

11 September 2006


Gulfsands Petroleum plc
("Gulfsands" or "the Company")


Tigris-1 Well Commences in Block 26, Syria


Gulfsands Petroleum plc (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
is pleased to announce that the Company has commenced drilling the Tigris-1 well
within Block 26, Syria. The Tigris-1 represents the first of a series of wells
proposed to be drilled by the Company in Block 26 over the next 12 months.
Gulfsands is currently in final negotiations on an additional drilling rig to be
utilized within Block 26 for this continuous drilling program.

Gulfsands, the operator and 50% working interest owner in Block 26, has
commenced the drilling of the Tigris-1 confirmation well located in the
northeast region of Block 26. This vertical well will be drilled to an
approximate depth of 4,500 meters with the primary objective being Carboniferous
and Devonian aged reservoirs directly underlying the Souedieh Oil Field, the
largest known oil field in Syria. This well is scheduled to take 90 to 120 days
to drill and evaluate at an estimated cost of $7.3 million, or $3.65 million net
to Gulfsands.

The Tigris-1 well will be the second well to target the Carboniferous and
Devonian aged reservoirs within the overall Tigris structure. The S1100 well,
drilled in 1994 by the Syrian Petroleum Company and located approximately 1
kilometre northeast of the Tigris-1 well, was the first well to intersect these
reservoirs within this structure. Independent interpretation of the wireline
logs from the S1100 well indicates a substantial hydrocarbon column. The main
objective of the Tigirs-1 well is to confirm the presence of this hydrocarbon
column.

Tigris has been estimated by Ryder Scott Company, L.P. to have 442 BCFG of gross
probable reserves with a net present value discounted at 10% of $233 million net
to Gulfsands 50% working interest. Ryder Scott has estimated the gross
prospective resource size for Tigris as some 4.3 TCF of natural gas, or 562
million barrels of oil. The Ryder Scott reserve reports can be viewed on
Gulfsands' website at www.gulfsands.net.

Gulfsands' CEO, John Dorrier, said:

"The drilling program being undertaken in Block 26 holds great potential for the
Company. The Tigris well is the first in a series of wells planned to be
drilled on a near continuous basis over the next 12 months on the Block. The
Block 26 drilling program, in combination with the Company's development work on
the Misan Project in Iraq and the oil and gas production oriented programs in
the Gulf of Mexico uniquely position the Company for asset growth."



NB: This release has been approved by the Company's geological staff who include
Jason Oden, Gulfsands Exploration Manager who has a Bachelor of Science degree
in Geophysics with 22 years of experience in petroleum exploration and
management and is registered as a Professional Geophysicist, for the purpose of
the Guidance Note for Mining, Oil and Gas Companies issued by the London Stock
Exchange in respect of AIM companies, which outlines standards of disclosure for
mineral projects.


Note to Editors



* Syria

In Syria, Gulfsands owns a 50% working interest in Block 26 and is the operator.
The block covers 11,000 square kilometres and surrounds areas which currently
produce over 100,000 barrels of oil per day from existing fields. In January
2006 the Company completed the acquisition of 1,155 kilometres of 2D seismic and
anticipates drilling two wells during 2006. The first well, known as Souedieh
North, commenced drilling in late April 2006 and was temporarily suspended in
June for further analysis. The second well known as Tigris commenced drilling
in September of 2006 and has the potential to contain in excess of 500 MMBOE.
Gulfsands has identified 31 total exploitation and exploration prospects within
Block 26 with mean resources potential exceeding 1 billion barrels of
recoverable oil.

Ryder Scott completed a reserves study on the Tigris structure in 2006 and these
reserves were classified as either oil or gas bearing until such time as the
Company drills and tests the Tigris structure. As of 1 July 2006 Ryder Scott
determined that the Probable Reserves net to Gulfsands after applying the terms
of the Production Sharing Contract is 102 BCFG with a net present value
discounted at 10% of $233 million. For primarily a natural gas accumulation, an
additional 75 BCFG of possible reserves net to Gulfsands were estimated to have
a 10% discounted net present value of $261 million. Furthermore, the Company
completed its own economic evaluation on the Prospective Gas Resource and has
estimated that Prospective Gas Resource net to Gulfsands is 577 BCFG with a net
present value of approximately $1.06 billion. In summary total gas reserves
potential net to Gulfsands among Probable and Possible Reserves for the natural
gas case is 177 BCFG (30 MMBOE) with a net present value of $494 million and
when combined with the Prospective Gas Resource it totals 754 BCFG (126 MMBOE)
with a net present value of approximately $1.55 billion.

For primarily an oil accumulation, Ryder Scott determined the Possible Reserves
net to Gulfsands after applying the terms of the Production Sharing Contract are
19.4 million barrels of oil having a net present value discounted at 10% of $452
million. Furthermore, the Company completed its own economic evaluation on the
Prospective Oil Resource and has estimated that Prospective Oil Resource net to
Gulfsands is 50.9 MMBO with a net present value of approximately $1.51 billion.
In summary total oil reserves potential net to Gulfsands among Possible and
Prospective Oil Resource for the oil case is 70.3 MMBO with a net present value
of approximately $1.96 billion.

From 4th September 2006 RNS

Alastair Beardsall, Emerald's Chairman said of today's appointment,

"I am very pleased that Angus has agreed to join us. He brings his skills,
expertise and technical leadership to Emerald to further extend the growth that
the company has experienced over the past 3 years. Angus arrives as we commence the drilling of Tigris No.1, an exploration well in Syria,
and prepare for our winter drilling campaign in Colombia."


The following from my post 19602 on advfn

Imo Emerald will be busy in COLOMBIA during this WINTER

Angus arrives as we commence the drilling of Tigris No.1, an exploration well in Syria, and prepare for our winter drilling campaign in Colombia."

The drilling contract for Saxon's Rig 223,has been extended to January 2008 to ensure Emerald has drilling capacity available for its next drilling campaign.

Rig 223 is currently on loan to another operator to drill in the Middle Magdalena valley basin where Emerald's Fortuna Block is located.

Rig 223 will return to commence Emerald's next drilling campaign which is anticipated to start in November 2006.

The current schedule includes both exploration and development wells.

And is expected to commence with the drilling of Aureliano No.1 exploration well on the Fortuna block.
The Aureliano prospect lies adjacent to the Totumal oil field,also situated within the Fortuna block.
The Totumal field has produced more than0.8 mmbbl of oil from La Luna, a Cretaceous limestone formation, until late 1980s, when it was shut-in by Ecopetrol.
In addition to drilling Aureliano No.1,two of the existing Totumal wells are being evaluated as re-entry candidates to re-commence production from the Totumal field.

Emerald also looking for possible way to fracture Silfide#1.
Geological, reservoir and production data is being evaluated to determine if the well would respond to a hydraulic fracture treatment to enhance the production rate.


The following are on the Campo Rico block and might not be included in the winter campaign,most likely in spring next year,Rig 233 on contract till January 2008.

the following from
cfc posted 19077 20/8/06 on advfn
DFGO Further still I have just checked the ANH web site and there are now TWO NEW! well names listed for the Campo Rico block? Centauros-1 and Centauros-2 these are not the same as Centauro Sur-1 & 2 which are both listed separately

http://www.anh.gov.co/html/cache/gallery/GC-2/G-3/PerfoAgosto1406.pdf

Exploration Contract Award

RNS Number:0023J
Emerald Energy PLC
15 September 2006


Emerald Energy Plc


FOR IMMEDIATE RELEASE 15 September 2006


Exploration and Production Contract Award in Colombia


Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that it
has been awarded a new exploration and production contract ("Contract") in
Colombia. The Maranta Contract, in which Emerald has a 100% working interest,
covers an area of 365 sq. km and is located north-east of the producing oil
fields in the Putumayo Basin in south-west Colombia.


The initial phase of the exploration period will be 18 months and the minimum
work programme comprises the acquisition of 30 km of new 2D seismic data and the
re-processing of 40 km of existing 2D seismic data. If Emerald elects to enter
the second phase, the minimum work programme includes the drilling of 1 well to
an estimated depth of some 11,000 ft.


The Maranta Contract has been awarded by the National Hydrocarbon Agency of
Colombia ("ANH"), and a copy of the model contract terms can be found on the ANH
website (www.anh.gov.co).


Emeralds' Chairman, Alastair Beardsall, said:


"We are very pleased with the award of our first ANH E&P Contract in Colombia.
The addition of prospective acreage in a proven petroleum system offers further
potential to build on the successful development of the Campo Rico, Vigia and
Centauro Sur fields in recent years."



Enquiries: Helen Manning 020 7925 2440

Emerald Energy says awarded Colombia exploration and production contract



LONDON (AFX) - Emerald Energy PLC said it has been awarded a new exploration and production contract in Colombia.

The Maranta Contract, from the National Hydrocarbon Agency of Colombia, covers an area of 365 sq km to the north east of the producing oil fields in the Putumayo Basin in south west Colombia.

Emerald Energy said the initial phase of the exploration period will be 18 months and the minimum work programme comprises the acquisition of 30 km of new seismic data and the re-processing of 40 km of existing seismic data.

If Emerald elects to enter the second phase, the minimum work programme includes the drilling of one well to an estimated depth of some 3,350 metres.

Chairman Alastair Beardsall said: 'The addition of prospective acreage in a proven petroleum system offers further potential to build on the successful development of the Campo Rico, Vigia and Centauro Sur fields in recent years.'

Interim Results

RNS Number:1329J
Emerald Energy PLC
19 September 2006


19 September 2006

For immediate release


EMERALD ENERGY PLC ("EMERALD" OR THE "COMPANY")
ANNOUNCES INTERIM RESULTS FOR THE
SIX MONTHS ENDED 30 JUNE 2006


Highlights


* Average daily gross production for the period was 3,677 bopd, an increase
of 45% compared to the 6 month period to 30 June 2005;

* In Colombia, Emerald currently has ten production wells on 5 fields with
nine in operation producing total some 4,200 bopd;

* Since February 2006 Emerald has participated in the drilling of 5 wells, 3
exploration and 2 development wells, resulting in 1 new discovery and 2 new
wells on production;

* Drilling of the Tigris exploration well commenced on 10 September 2006 and
is currently drilling ahead at 522 metres;

* In September 2006 Emerald signed a new Exploration & Production Contract
with ANH for the Maranta block located in southwest Colombia.


Summary financial results

1H 2006 1H 2005
--------- ---------
mbbl mbbl
--------- ---------
Attributable gross production 665 460
Entitlement production 441 353
--------- ---------
$ '000 $ '000
--------- ---------
Revenue 21,290 12,386
Production costs (6,042) (3,888)
Adjusted EBITDA(*) 13,216 4,831
Profit before tax 5,413 3,265
--------- ---------
Cents Cents
--------- ---------
Earnings per share 3.83 3.15
------------------------------ --------- ---------


(*) Adjusted EBITDA is earnings before interest, tax, depletion, depreciation,
amortisation, exceptional items and non-cash charges relating to share based
compensation and cost recovery.


In the six months to 30 June 2006, the Group achieved average revenue of $48.28
per barrel of entitlement production, an increase of 38% when compared to $35.09
per barrel, achieved in the same period of last year. Emerald sells its
entitlement production to third parties in the proximity of its operations. The
sales price is based upon the benchmark price of West Texas Intermediate or
Vasconia Blend; it is subject to the customary oil quality price adjustment and
a discount to reflect the cost of transporting the oil to the international
markets. Production costs incurred in the reporting period reflect increases in
supplier costs influenced by the increased activity in the oil sector.


Of the 441,000 barrels of oil sold by Emerald, 142,000 barrels represent partial
recovery of reimbursable costs incurred by Emerald in the Campo Rico block in
Colombia. In accordance with the terms of the Campo Rico Association Contract,
158,000 barrels of oil produced in the Campo Rico and Vigia fields were
delivered to Ecopetrol as their share of production. Ecopetrol's share of
production costs in the Vigia field has been fully expensed by the Group and
will be recovered when the field is granted either commercial or sole risk
status by Ecopetrol.


In the reporting period, the increased level of production and the favourable
economic environment allowed Emerald to achieve profit before tax of $5,413,000
an increase of 66% when compared to $3,265,000 achieved for the corresponding
period in 2005.


Board Change


On 4 September 2006 Emerald appointed Angus MacAskill a director and its Chief
Operating Officer.


Commenting on the results, Chairman and Chief Executive, Alastair Beardsall,
said:


"These results show a strong improvement over the same reporting period last
year. In this period of higher oil prices, acquiring reserves and production is
expensive. We have continued to grow our reserves and increase our production
through exploration and development drilling, we remain focused on an
exploration driven strategy for delivering cost-effective growth.


The coming twelve months look very exciting for Emerald with the drilling of the
Tigris exploration well underway, the spudding of the Aureliano exploration well
in November 2006, and our plans to drill the Gigante No.2 well advancing,
hopefully, to a spud date before the end of 2007."



Operations review - Colombia


Campo Rico block


The Centauro Sur No.1 well, drilled in April 2006, on a prospect located to the
south of the Campo Rico field, discovered oil in the Mirador formation. A second
well on the Centauro Sur field was drilled in July 2006. Both wells are now on
production.


The Las Acacias No.1 well, drilled in May 2006, on a prospect located to the
south of the Vigia field, failed to recover hydrocarbons to surface. The well is
now being tested as a disposal well for water produced from the Vigia field.
Using Las Acacias No.1 as a water disposal well will reduce the ongoing cost of
disposing of the water produced in the Vigia field, will allow Emerald to
recover part of its cost from Ecopetrol's share of the Vigia oil production and
will save the cost of drilling a dedicated water disposal well that was part of
the original drilling programme.


The Vigia No.4 well was drilled in August 2006 as a step out appraisal well to
test a westward extension to the Vigia field, and was evaluated as
non-commercial. The well has been plugged and abandoned. A proportion of the
drilling costs will be recovered from Ecopetrol's share of Vigia's oil
production in line with the fiscal terms of the Campo Rico Association Contract.


Matambo block


A programme to acquire 40 square kilometres of 3D seismic to cover the Gigante
structure is being prepared and will assist in determining the location for
drilling the Gigante No.2 well. Discussions with Ecopetrol continue over their
participation in the drilling of the Gigante No.2 well. If the well is drilled
as a development well inside the joint operations area, previously known as the
sole risk area, Ecopetrol is entitled to participate and will pay 50% of the
drilling and operating costs and receive 50% of the production after royalties.
If Ecopetrol declines to participate in a development well, Emerald may drill
the well on a sole risk basis, with an entitlement to recover 200% of the well
cost from any future production. If the well is drilled outside of the joint
operations area as an exploration well, Emerald will pay 100% of the costs with
Ecopetrol retaining the right to participate in 50% of any future production,
subject to Emerald's right to recover 50% of the costs incurred prior to
Ecopetrol's back-in. Due to the long lead times required to source drilling
materials and a drilling rig with sufficient capacity to drill to the estimated
depth of 16,000 feet, the drilling of the Gigante No.2 well may not be started
before the fourth quarter of 2007.


Fortuna block


The Silfide No.1 well on the Fortuna block was produced for several weeks at an
average rate of 25 bopd. Geological, reservoir and production data is being
evaluated to determine if the well would respond to a hydraulic fracture
treatment to enhance the production rate.


El Algarrobo block


The Agueda No.1 exploration well (Emerald 50% working interest) was drilled in
March 2006 on a prospect located to the north of the producing Rancho Hermoso
field in the Llanos basin. The well was evaluated as non-commercial and plugged
and abandoned. The drilling of this well satisfied the work obligations under
the El Algarrobo Association Contract, which has now been relinquished.


Maranta block


In September 2006 the Company signed the Maranta Exploration & Production
Contract with the National Hydrocarbon Agency of Colombia (ANH). The Maranta
block, located in the southwest of Colombia and northeast of the producing
fields of the Putumayo basin, covers some 365 square kilometres. The initial
phase of the exploration period will be 18 months and the minimum work programme
comprises the acquisition of 30 kilometres of new 2D seismic data and the
re-processing of 40 kilometres of the existing 2D seismic data. If Emerald
elects to enter the second phase, the minimum work programme will also include
the drilling of one well to an estimated depth of some 11,000 feet.


Technical Evaluation Agreements (TEAs)


The Group completed the evaluation of the Cachama and Las Brisas areas under the
terms of TEAs with the ANH. The TEAs have now expired and Emerald is progressing
applications with the ANH for exploration rights over certain areas.


Future drilling programme


The drilling contract for Saxon's Rig 223 has been extended to January 2008 to
ensure Emerald has drilling capacity available for its next drilling campaign.
Rig 223 is currently on loan to another operator to drill in the Middle
Magdalena valley basin where Emerald's Fortuna Block is located. Emerald's next
drilling campaign will include both exploration and development wells and is
expected to commence with the drilling of the Aureliano No.1 exploration well in
November 2006. The Aureliano prospect, adjacent to the Totumal oil field, is
situated within the Fortuna block. The Totumal field produced more than 800,000
barrels of oil from La Luna, a Cretaceous limestone formation, until late 1993
when it was shut-in by Ecopetrol. In addition to drilling the Aureliano No.1,
two of the existing Totumal wells are being evaluated as re-entry candidates to
re-commence production from the Totumal field.


Production


Daily gross production for the first six months of 2006 averaged 3,677 bopd,
compared to 2,542 bopd and 4,053 bopd achieved in the first and the second
halves of 2005, respectively. Emerald currently has ten production wells with
nine on production currently lifting about 4,200 bopd in total. In the six
months to the end of June 2006, in addition to the natural decline in oil
production from individual wells, production was impaired by the failures of
rented surface and downhole hydraulic pumping systems. The fields benefit from
active aquifers which assist overall field recovery but result, in the absence
of other factors such as changing well completion configurations, in decreasing
oil production rates and increasing water production rates from individual wells
over time.


The switch to electrical submersible pumps (ESPs) was accelerated due to the
inability of suppliers to deliver suitable hydraulic pumps on time. Currently,
including both replacement and new installations, Emerald operates six wells
with ESPs, which offer greater variability of pump output and better overall
reliability. Emerald plans to replace three more of the hydraulic pumps with
ESPs by the year end.


The Campo Rico field has three wells on production at an aggregate rate of about
1,560 bopd. The Vigia field has three wells on production at an aggregate rate
of about 640 bopd. The Centauro Sur field is currently being produced with two
wells at about 1,100 bopd. As these fields are settling into long term flow
regimes, the initial production rates are now stabilising. The Gigante No.1A
well has undergone a scheduled chemical treatment and is on production at
approximately 900 bopd. The Silfide No.1 well is shut-in pending a decision to
fracture the productive horizon.


The Gigante 1A well and the Campo Rico field are now operated as joint
operations with Ecopetrol with both production and costs shared between the
parties in accordance with the relevant Association Contracts. Emerald has
applied for the commerciality status of the Vigia, Silfide and Centauro Sur
fields and is awaiting Ecopetrol's decision.


Operations review - Syria


North Souedieh exploration well was drilled during the second quarter of 2006.
Gas shows were recorded while drilling and interpretation of the electric
wireline logs identified potential hydrocarbon zones. However, no hydrocarbons
were recovered when tested using a wireline conveyed testing tool. The well has
been suspended while the acquired data is reviewed and alternative testing
operations are considered.


The Tigris exploration well was spud on 10 September 2006. The well is expected
to take between 90 and 120 days to drill to its targeted depth of 4,500 metres
and will test the Tigris prospect located beneath the large Souedieh field. The
Souedieh field, owned and operated by Syrian Petroleum Company (SPC), currently
produces approximately 85,000 bopd. The S1100 well drilled more than a decade
ago by SPC penetrated the Tigris prospect and encountered gas in several zones,
some of which, when flow tested, produced gas to surface. The potential
hydrocarbon layers within the Tigris prospect have been mapped using the 3D
seismic data, previously acquired by SPC over the Souedieh field. Using the
existing dataset, Ryder Scott LP, independent reserve engineers, completed a
study of the Tigris structure to determine its potential to contain either gas
or oil.


The Ryder Scott study has concluded that, if the Tigris structure contains gas,
then the potential gross Probable and Possible reserves are 884 bcf of gas
(equivalent to 145 mmboe) and, if the Tigris structure is an oil accumulation,
then the potential gross Possible reserves are 104 mmbbl of oil and 64 bcf of
gas (equivalent to 114 mmboe). Ryder Scott has valued Emerald's share at $494
million in the event that Tigris is a gas accumulation and at $452 million in
the event that Tigris is an oil accumulation. Emerald holds a 50% working
interest in the contract to explore, develop and produce hydrocarbons from Block
26. Copies of the Ryder Scott reserves and evaluation reports may be found on
the Group's web site.


Outlook


Over the next twelve months, the Group is planning to drill at least four
exploration wells and a number of development wells. The thrust for operations
will be to establish early production from the successful new wells and to
maintain steady production from existing wells in the currently producing
fields.



Alastair Beardsall, Chairman and Chief Executive

19 September 2006

Emerald Energy raises H1 pretax

LONDON (AFX) - Emerald Energy PLC raised pretax profit in the first half of
2006 to 5.4 mln usd from 3.3 mln.
Average daily gross production for the period was 3,677 bopd, an increase of
45 pct compared to the same period a year earlier.
Revenue for the half year was 21.3 mln usd, up from 12.4 mln. Average
revenue of 48.28 usd per barrel of entitlement production was achieved in the
half, an increase of 38 pct when compared to 35.09 usd per barrel, achieved in
the same period of last year.
Emerald sells its entitlement production to third parties in the proximity
of its operations.
Chairman and chief executive Alastair Beardsall said the coming twelve
months look very exciting for Emerald with the drilling of the Tigris
exploration well underway, the spudding of the Aureliano exploration well in
November 2006, and plans to drill the Gigante No.2 well advancing, hopefully, to
a spud date before the end of 2007.
Over the next twelve months, the Group is planning to drill at least four
exploration wells and a number of development wells. The thrust for operations
will be to establish early production from the successful new wells and to
maintain steady production from existing wells in the currently producing
fields.

Gulfsands production sharing contract gives it - and 50/50 partner Emerald Energy - the rights to the deep (Palaeozoic) reservoirs under existing fields and rights to all reservoirs outside the existing fields.


http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1159843589&feed=oilbarrel_en


03.10.2006

Gulfsands Petroleum Back On Track In The US Gulf But Syria Is The Real Buzz In The Portfolio

Although all its production and revenue comes from the US, investors in Gulfsands Petroleum are currently watching not the waters of the Gulf of Mexico but the desert sands of Syria.

The AIM-quoted companys US production stream, back up to 2,800 barrels of oil equivalent per day following the hurricane disruption of 2005, is very nice to have, generating net income of US$874,000 on revenues of just over US$12 million for the first six months of the year. But Syria is home to the real excitement in the Gulfsands portfolio.

The company is currently drilling ahead with the high impact Tigris-1 exploration well, its second well on Block 26. This 11,000 sq km tranche of acreage, equivalent in size to 50 North Sea blocks, lies in a proven oil and gas province: the block is home to fields that are producing over 120,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Co. There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous reservoirs, totalling some 3 billion barrels of recoverable oil. Gulfsands production sharing contract gives it - and 50/50 partner Emerald Energy - the rights to the deep (Palaeozoic) reservoirs under existing fields and rights to all reservoirs outside the existing fields.

The partners first well on the block, Souedieh North-1, drilled in the second quarter, was something of a disappointment, failing to recover moveable hydrocarbons during wireline testing. The well has been suspended for further analysis to determine whether to stimulate the well through chemical or mechanical stimulation or to deepen it (or abandon it).

This has no bearing on the prospectivity of the Tigris structure, which has the potential to hold more than 4 trillion cubic feet of gas. The well will go down to 4,500 metres to target the Carboniferous and Devonian-aged reservoirs that lie directly under the Souedieh field, the largest known oilfield in Syria.

This is not the first well to target these deep reservoirs. In 1994 SPC drilled the S1100 well, about 1 km to the northeast of Gulfsands wellsite. Although the state oil company struggled with the deep well, wireline logs indicated the presence of a substantial hydrocarbon column. This, however, needs to be proven by the drillbit: investors have another month or so until the well hits target depth.

This isnt high risk wildcatting - the well is surrounded by producing fields - but as the results from Souedieh North-1 show, nothing is certain until the drillbit goes down. Gulfsands does have plenty of opportunity to hit pay dirt, however: it has identified 31 prospects within the block, with mean resources potential of more than 1 billion barrels of recoverable oil. It is these kinds of numbers that mean the companys production streams from the US, although very welcome, are something of a sideshow for investors

Getting closer to my 50p price level all the time.

what a ??????

from website

Aureliano #1 exploration well

Emerald has identified a potentially prospective fault block adjacent to Totumal and intends to drill an exploration well into the fault block before the end of 2006. Aureliano #1 exploration well will be a medium angle deviated well targeting the natural fault planes of the fractured carbonate formation at 90 degrees.

In addition to the drilling of Aureliano, Emerald is considering the technical issues and commercial viability of re-entering the currently suspended Totumal #3 and #4 wells in an attempt to re-start production from them. If feasible, the re-entries may take place early 2007.

http://www.emeraldenergy.com/OnP-Fortuna.htm

Emerald have found some potential prospects in the Cachama and Las Brisas areas
TEAs.

COLOMBIA: EXPLORATION & NEW VENTURES
Emerald's strategy for its exploration programme in Colombia is to focus on areas where low cost, low risk drilling potential are available. This strategy will enable the Group to participate in a large number of prospects and thus increase the potential to add further oil production to the Group's portfolio in the medium term, building on the success already achieved at Campo Rico.

Emerald completed the evaluation of the Cachama and Las Brisas areas under the terms of TEAs with the ANH. The TEAs have now expired and Emerald is progressing applications with the ANH for the exploration rights over certain areas.

http://www.emeraldenergy.com/OnP-ExplorationStrategy.htm

NEW GIGANTE2 INVESTOR PRESENTATION ON SITE.

http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf

30 October 2006


Emerald Energy Plc


FOR IMMEDIATE RELEASE 30 October 2006


3D Seismic Acquisition over Gigante Field


Emerald Energy Plc ('Emerald' or the 'Company') is pleased to announce that it
has awarded the contract for the acquisition of 3D seismic at the Gigante field
in the Upper Magdalene Valley in Colombia to Compania Geofisica Latinoamericana
('CGL'). Under the contract, 58 square kilometres of full fold 3D seismic will
be acquired over the Gigante field. The acquisition will commence shortly and is
planned to take approximately 2 months, with processing taking up to a further 4
months.


The 3D acquisition is planned to confirm Emerald's structural interpretation of
the field and to assess the potential for further development, including the
drilling of Gigante #2. In particular, the 3D seismic interpretation is
anticipated to reduce the risk in locating any future development wells.


The Gigante field has produced 2.2 million barrels of oil from a single
producing well, Gigante 1A, since commencing production in 1999.


A presentation entitled '58km2 3D seismic programme, Gigante field' may be found
on the Company's website at
www.emeraldenergy.com



Emeralds' Chairman, Alastair Beardsall, said:


'The acquisition of 3D seismic over the Gigante field is a significant step
forward, allowing us to better image the reservoir, reduce mapping uncertainty
of the structure, and plan the best way to realise the potential of this field.'



Enquiries: Helen Manning 020 7925 2440



This information is provided by RNS
The company news service from the London Stock Exchange

From oilbarrel
02.11.2006
Emerald Energy To Shoot 3D Seismic Ahead Of Drilling The Long-Awaited Gigante-2 Well In Q4 2007
This weeks news that Emerald Energy has awarded a contract for the acquisition of 3D seismic over the Gigante field in Colombia marks a return to a project that has played a key role in the companys history.

The Gigante field lies in the Upper Magdalene Valley and produces from a single well, Gigante-1A, at a rate of 900 barrels per day. The field has produced some 2.2 million barrels of oil since starting production back in 1999 and independent consultants reckon theres plenty more to play for, with proved, probable and possible reserves of 18 million barrels.

But this potential was difficult to see back in 2000 when a devastating well blowout destroyed the companys sole source of production and mired the company in debt and legal wrangles. A rescue rights issue and board clear-out in August 2003 got the company back on a firmer financial footing and the Gigante-1A well was rehabilitated and production stabilized, gradually climbing to 900 barrels per day of 32-degree API Oil.

Now the company, which today pumps more than 4,000 barrels per day from five fields in Colombia and is a 50/50 partner in a possible company-making exploration project in Syria, is moving ahead to exploit the untapped potential of the Gigante field. Seismic firm Compania Geofisica Latinoamericana is set to get to work on a 58 sq km 3D shoot, which should take around two months with processing taking a further four months. The data will be used to confirm Emeralds model of the field and help define a drilling location for the planned Gigante-2 well.

This well has been on the cards for more than six years. It was part of the companys original plans for the Gigante field but got shelved during the fall-out from the blowout. More recently, industry-wide equipment shortages have delayed work on Gigante-2, which will require a rig capable of drilling down to 16,000 feet. Emerald now anticipates drilling the well in the fourth quarter of 2007 at the earliest.

This allows plenty of time to complete discussions with state oil firm Ecopetrol, which has the right to participate in the well with a 50 per cent interest if the well is drilled as a development well inside the joint operations area. If Ecopetrol decides not to participate, then Emerald will proceed alone and will have the right to recover 200 per cent of the well costs from any future production. If the well is drilled outside the joint operations area as an exploration well, Emerald will pay 100 per cent of the costs, with Ecopetrol retaining the right to participate in 50 per cent of any future production and Emerald retaining the right to recover 50 per cent of its costs.

Emerald has been a long time player in Colombia, a country that has overcome fears about security issues and fiscal terms to become something of an E&P starter package for oil juniors. Emeralds investments have been followed by the likes of AIM-quoted Black Rock Oil & Gas, Chaco Resources and Global Energy Development. These companies are hoping to follow Emeralds lead (albeit without the production hiatus and financial mess of the Gigante saga) and gain low-cost entry to near-term development projects and low cost exploration, in order to get some all-important barrels on the balance sheet.

It has, at last, paid off for Emerald. Its Colombian business produced 3,677 bpd over the first six months on this year, up 45 per cent on the prior year period, with pre-tax profits up 66 per cent at US$5.4 million. Production is now running at 4,200 bpd from nine wells on five fields.

Despite now turning its attention to high impact drilling in Syria, where field sizes dwarf those on its Colombian acreage, there is still plenty to keep Emerald interested in this vast and relatively under-explored country. Later this month the company will drill the Aureliano-1 exploration well. The prospect lies next door to the Totumal oil field, which produced 800,000 barrels of oil from a Cretaceous limestone formation until it was shut-in by Ecopetrol in 1993. Emerald is mulling a possible re-entry of two of the existing Totumal wells to restart production from the field. And in September the company signed up to explore the 365 sq km Maranta block, which lies in the southwest


http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1162432833&feed=oilbarrel_en

Aureliano #1 exploration well spud by end of November

Emerald has identified a potentially prospective fault block adjacent to Totumal and intends to drill an exploration well into the fault block before the end of 2006. Aureliano #1 exploration well will be a medium angle deviated well targeting the natural fault planes of the fractured carbonate formation at 90 degrees.

In addition to the drilling of Aureliano, Emerald is considering the technical issues and commercial viability of re-entering the currently suspended Totumal #3 and #4 wells in an attempt to re-start production from them. If feasible, the re-entries may take place early 2007.

http://www.emeraldenergy.com/OnP-Fortuna.htm

copied from advfn een thread



efagie - 29 Nov'06 - 00:15 - 21372 of 21379


for those that went to the egm. any mention of.

In addition, the ANH signed three contracts of exploration and production with the company Emerald Energy. First of these contracts it is for the Marantblock, in the river basin of the Putumayo, that has 36,608 hectares and its program of activities in first stage requires of investments by 816 thousand dollars.

To the same company the Agency adjudged to him, also in Putumayo, the block Helen with an area of 21,256 hectares and a plan of investment that reachs the 888 thousand dollars in his first stage.

The third contract is for the Ombblock, located in the region of the Cagu - Vaup, that has 29,900 hectares and an exploratory plan of 11 months in first stage with investments by 1 million 203 thousand dollars


from.-http://translate.google.com/translate?hl=en&sl=es&u=http://www.presidencia.gov.co/prensa_new/sne/2006/noviembre/17/03172006.htm&sa=X&oi=translate&resnum=7&ct=result&prev=/search%3Fq%3DGeoadinpro%26hl%3Den%26lr%3D%26sa%3DG

Emerald Energy Appointment of CEO

RNS Number:0390N
Emerald Energy PLC
01 December 2006


Emerald Energy Plc

1 December 2006

Appointment of Chief Executive Officer

Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce the
appointment of Angus MacAskill as Chief Executive Officer. Alastair Beardsall
remains as Chairman and Executive Director on a part-time basis. These changes
will take place with immediate effect.


Emerald's Chairman, Alastair Beardsall, said:

"We are pleased to have reached the stage in the company's growth and
development at which we recognise the potential value in separating the roles of
Chairman and Chief Executive Officer. Angus's appointment will allow us to
concentrate simultaneously on both the management of the existing portfolio and
the next stage of growth"


Angus MacAskill, Emerald's Chief Executive Officer said:

"I am delighted to be taking on this challenging and exciting role and look
forward to building on excellent progress that has been made over the last three
years."




Enquiries: Helen Manning 020 7925 2440



This information is provided by RNS
The company news service from the London Stock Exchange

END

Emerald Energy Drilling Report


RNS Number:4198N
Emerald Energy PLC
07 December 2006


Emerald Energy Plc


7 December 2006


Operations Update - Syria


Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide an update
on activities within Block 26, Syria, following the release of this information
by the Operator.


The Tigris No.1 exploration well is currently at a depth of 3,546 metres, having
recently set nine and five-eighths inch casing at 3,435 metres. The well has
penetrated the top of the Palaeozoic geologic section below which the Company
holds contractual rights. Tigris No.1 was spud on 10 September 2006, has a
planned total depth of approximately 4,500 metres and is estimated to take a
further 45 days to drill and evaluate with wireline logs.


Tigris No.1 is the second of four commitment wells to be drilled during the
initial exploration phase of the contract for Block 26 that ends in August 2007.


The previously announced programme to acquire 266 kilometres of 2D seismic in
Block 26 has been completed and is currently being processed in preparation for
interpretation.



Emeralds' Chief Executive Officer, Angus MacAskill, said:


"We are pleased to be making continued progress with the Tigris No.1 well and
with the completion of the acquisition of further seismic to optimise the
remaining work programme"



Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG
Overseas Ltd.



Enquiries: Helen Manning 020 7925 2440

Emerald Energy Drilling Report


RNS Number:7512N
Emerald Energy PLC
12 December 2006


Emerald Energy Plc


13 December 2006


Colombia - Aureliano Well Spudded


Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that the
Aureliano 1 exploration well has been spud. The Aureliano prospect is in the
Fortuna Association Contract area in the Middle Magdalena Valley in Colombia.

The Aureliano 1 well is targeting a fractured limestone prospect in the same La
Luna formation, but across a fault from the Totumal field which produced 800,000
barrels from three vertical wells until the field was shut-in in the mid 1990's.
The well is planned to reach a measured depth of 8,600 feet and take
approximately 35 days to drill.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

"This is a significant step in the exploration of the Fortuna area. The
prospect, if successful, has the potential for a number of additional
development wells."



Enquiries: Helen Manning 020 7925 2440

am I the only one here

http://www.oilbarrel.com:80/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1166061608&feed=oilbarrel_en

14.12.2006
Gulfsands Going For An Exploration Step Up With Its Tigris-1 Well In Syria
Gulfsands Petroleum, the London AIM quoted company, has a profile which investors in small and mid cap companies like to see. There is production in the US and some potentially big exploration upside in Syria. There has been news on both fronts. We reported a few weeks ago that the US production stream was back up to 2,800 barrels of oil equivalent a day, following the hurricane disruption of 2005. We now understand that it has strengthened and is growing satisfactorily. This provides respectable amounts of cash flow on gross revenues of just over US$12 million for the first six months of the year.

But the real excitement is in Syria with the possibility of a significant step up through exploration. Gulfsands has reported that on the drilling of the Tigris-1 well in Block 26, in Syria, it has set 9 5/8 casing at a depth of 3,435 metres on Tigris. At this depth the well bore has entered into the Palaeozoic aged geological section to which the company owns the contractual rights in the Tigris structure.

Block 26 is an 11,000 sq kms tranche of acreage, equivalent in size to 50 North Sea blocks. It lies in a proven oil and gas province: the block is home to fields that are producing over 110,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Company (SPC). There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous and Triassic reservoirs, which are thought to total 3 billion barrels of recoverable oil. Gulfsands Production Sharing Agreement (PSA) gives it - and its 50/50 partner Emerald Energy - rights to the deep Palaeozoic reservoirs under the existing shallower fields.

What the companys latest statement means, in laymans terms, is that with the new casing, Gulfsands is now drilling in its own rocks, as they say. The partners first well on the Souedieh North-1 block, drilled in the second quarter of this year, was something of a disappointment, failing to recover moveable hydrocarbons during wire-line testing. Drilling was suspended for further analysis to decide whether to carry out chemical or mechanical stimulation on the well, or to deepen (or abandon) it.

This has no bearing on the prospectivity of the Tigris structure. The Tigris-1 well will go down to 4,500 metres to target the Carboniferous and Devonian- aged reservoirs that lie directly under the Souedieh field, the largest field in Syria.

This is not the first well to be drilled into these deep structures. The S1100 well, sunk by the SPC about one kilometre northeast of Gulfsands well site in 1994, indicated a substantial hydrocarbon column. So, strictly speaking this is not a wildcat well. The main objective of Tigris-1 is to confirm the presence of this hydrocarbon column.

The Tigris structure has been estimated by independent reservoir surveyors, the Ryder Scott Company, to have probable reserves of 442 bcf of gas, which combined with possible and prospective resources, totals a potential resource of 4.3 tcf of natural gas or 562 million barrels of oil.

But as the Souedieh North-1 well showed, only the drill bit will tell how much oil or gas there is, if any. The well should take another 35 days or so to reach target depth.
< back

I'm here, went Long yesterday, for first time since the May crash and SN#1 debacle.

Way too neglected by the market, expecially considering that Tigris alone could be worth over 10 a share to Emerald, and also that the Aureliano drill target has the potentail to almost double the current share price.

Interesting times, in fact during the Christmas lull, there probably isn't a more exciting stock to be in.

AndyH78

Ive been in EEN since 1999 and added since monday also bought GPX this week

Tigris target depth getting ever closer

Another Exploration & Production contract Emerald Energy

Emerald Energy PLC
21 December 2006

Emerald Energy Plc

21 December 2006

Ombu Exploration and Production Contract Award in Colombia

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to announce that it
has been awarded a new exploration & production contract (the 'Contract') in
Colombia. The Ombu Contract, in which Emerald has a 100% working interest,
covers an area of 300 sq. km and is located in the Caguan Basin, to the
south-west of the Llanos Basin, in Colombia.

The initial phase of the exploration period is 11 months and the minimum work
programme comprises the acquisition of 61 km of new 2D seismic data and the
re-processing of 60 km of existing 2D seismic data. If Emerald elects to enter
the second phase, the minimum work programme includes the drilling of 1 well to
an estimated depth of 5,000 ft.

The Ombu Contract has been awarded by the ANH, the National Hydrocarbon Agency
of Colombia, and a copy of the model contract terms can be found on the ANH
website (www.anh.gov.co).

Emeralds' Chief Executive Officer, Angus MacAskill, said:

'We are very pleased with the award of our second ANH E&P Contract in Colombia.
The award of this prospective acreage with a petroleum system, proven by
historic wells, contributes to the building of an exciting portfolio of
exploration opportunities for future growth.'

More good news, with two high impact drills both much less than a month from completion I'm surprised this is so unloved by the market.

Certainly a case of once bitten twice shy for those that lost out after the Soudieh North result.

Emerald Energy wins Colombia exploration & production contract
AFX


LONDON (AFX) - Emerald Energy PLC said it has won the Ombu exploration and production contract from ANH, the National Hydrocarbon Agency of Colombia.

Financial details of the contract were not disclosed.

The Ombu contract, in which the company has a 100 pct working interest and covers an area of 300 square kilometres, is in the Caguan Basin, to the south-west of the Llanos Basin, in Colombia.

'The award of this prospective acreage with a petroleum system, proven by historic wells, contributes to the building of an exciting portfolio of exploration opportunities for future growth,' chief executive Angus MacAskill said.

newsdesk@afxnews.com

EEN up 7.5p

Auction 5020 2.10 1p above buying price on advfn

Emeralds partener Gulfsands very close to target depth now with Tigris well.

copied this post from advfn GPX bb

PapalPower - 3 Jan'07 - 02:21 - 383 of 406


A nice little pre-spud summary of what the hopes are for the Tigris drill :


1. Emerald Energy is talking up the potential of its Tigris structure onshore Syria, where drilling of the Tigris-1 well is expected to commence in September. The company highlighted new information released by operator Gulfsands Petroleum, the operator of Block 26 , following an economic valuation by Ryder Scott Company, L.P. The latter has completed an economic valuation of the probable and possible reserves (unrisked) on Tigris, which can be viewed on Emerald's website ( www.emeraldenergy.com ). On 30 January 2006, Ryder Scott completed a reserves study on the Tigris structure in which two cases were considered as there was insufficient data available at that time to determine with certainty the hydrocarbon fluid contained within the structure. This reserves study classified probable and possible reserves and prospective resource as follows: If Tigris is a natural gas accumulation, Ryder Scott has classified 442 Bcf of gas as probable reserves, a further 442 Bcf of gas as possible reserves, and a further 3.447 Tcf of gas as a prospective resource. In summary, total estimated hydrocarbon potential for probable and possible reserves and prospective resource in this case is 4.33 Tcf of gas, equivalent to 722 million boe. If Tigris is an oil accumulation, Ryder Scott has classified 104 million bbl of oil and 64 Bcf of gas as possible reserves and a further 408 million bbl of oil and 245 Bcf of gas as prospective resource. In summary, total estimated hydrocarbon potential for possible reserve and prospective resource in this case is 512 million bbl of oil and 308 Bcf of gas, equivalent to 563 million boe. If Tigris is a natural gas accumulation, Ryder Scott determined the probable reserves net to Emerald after applying the fiscal terms of the production sharing contract are 102 Bcf of gas having a net present value, discounted at 10%, of $233 million. In addition, the accumulation rates 75 Bcf of gas of possible reserves net to Emerald having a net present value, discounted at 10%, of $261 million. In summary total estimated probable and possible reserves for the natural gas case is 177 Bcf of gas (30 million boe) with a net present value of $494 million. If Tigris is an oil accumulation, Ryder Scott determined the possible reserves net to Emerald after applying the terms of the production sharing contract is 19.4 million bbl of oil having a net present value, discounted at 10%, of $452 million. Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas Ltd.

Emerald also spud Aureliano#1 in Colombia on 13 December with approx drill of 35 days also getting close now with approx 14 days to go



RNS Number:7512N
Emerald Energy PLC
12 December 2006


Emerald Energy Plc


13 December 2006


Colombia - Aureliano Well Spudded


Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that the
Aureliano 1 exploration well has been spud. The Aureliano prospect is in the
Fortuna Association Contract area in the Middle Magdalena Valley in Colombia.

The Aureliano 1 well is targeting a fractured limestone prospect in the same La
Luna formation, but across a fault from the Totumal field which produced 800,000
barrels from three vertical wells until the field was shut-in in the mid 1990's.
The well is planned to reach a measured depth of 8,600 feet and take
approximately 35 days to drill.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

"This is a significant step in the exploration of the Fortuna area. The
prospect, if successful, has the potential for a number of additional
development wells."

By my calcs we should be due an update on Aureliano in about two week, and Tigris the week after.
A wet Aureliano would certainly add steam to any Tigris run-up.

Your search string matches are marked in orange

from oil Barrel in news search

02.11.2006
Emerald Energy To Shoot 3D Seismic Ahead Of Drilling The Long-Awaited Gigante-2 Well In Q4 2007
This weeks news that Emerald Energy has awarded a contract for the acquisition of 3D seismic over the Gigante field in Colombia marks a return to a project that has played a key role in the companys history.

The Gigante field lies in the Upper Magdalene Valley and produces from a single well, Gigante-1A, at a rate of 900 barrels per day. The field has produced some 2.2 million barrels of oil since starting production back in 1999 and independent consultants reckon theres plenty more to play for, with proved, probable and possible reserves of 18 million barrels.

But this potential was difficult to see back in 2000 when a devastating well blowout destroyed the companys sole source of production and mired the company in debt and legal wrangles. A rescue rights issue and board clear-out in August 2003 got the company back on a firmer financial footing and the Gigante-1A well was rehabilitated and production stabilized, gradually climbing to 900 barrels per day of 32-degree API Oil.

Now the company, which today pumps more than 4,000 barrels per day from five fields in Colombia and is a 50/50 partner in a possible company-making exploration project in Syria, is moving ahead to exploit the untapped potential of the Gigante field. Seismic firm Compania Geofisica Latinoamericana is set to get to work on a 58 sq km 3D shoot, which should take around two months with processing taking a further four months. The data will be used to confirm Emeralds model of the field and help define a drilling location for the planned Gigante-2 well.

This well has been on the cards for more than six years. It was part of the companys original plans for the Gigante field but got shelved during the fall-out from the blowout. More recently, industry-wide equipment shortages have delayed work on Gigante-2, which will require a rig capable of drilling down to 16,000 feet. Emerald now anticipates drilling the well in the fourth quarter of 2007 at the earliest.

This allows plenty of time to complete discussions with state oil firm Ecopetrol, which has the right to participate in the well with a 50 per cent interest if the well is drilled as a development well inside the joint operations area. If Ecopetrol decides not to participate, then Emerald will proceed alone and will have the right to recover 200 per cent of the well costs from any future production. If the well is drilled outside the joint operations area as an exploration well, Emerald will pay 100 per cent of the costs, with Ecopetrol retaining the right to participate in 50 per cent of any future production and Emerald retaining the right to recover 50 per cent of its costs.

Emerald has been a long time player in Colombia, a country that has overcome fears about security issues and fiscal terms to become something of an E&P starter package for oil juniors. Emeralds investments have been followed by the likes of AIM-quoted Black Rock Oil & Gas, Chaco Resources and Global Energy Development. These companies are hoping to follow Emeralds lead (albeit without the production hiatus and financial mess of the Gigante saga) and gain low-cost entry to near-term development projects and low cost exploration, in order to get some all-important barrels on the balance sheet.

It has, at last, paid off for Emerald. Its Colombian business produced 3,677 bpd over the first six months on this year, up 45 per cent on the prior year period, with pre-tax profits up 66 per cent at US$5.4 million. Production is now running at 4,200 bpd from nine wells on five fields.

Despite now turning its attention to high impact drilling in Syria, where field sizes dwarf those on its Colombian acreage, there is still plenty to keep Emerald interested in this vast and relatively under-explored country. Later this month the company will drill the Aureliano-1 exploration well. The prospect lies next door to the Totumal oil field, which produced 800,000 barrels of oil from a Cretaceous limestone formation until it was shut-in by Ecopetrol in 1993. Emerald is mulling a possible re-entry of two of the existing Totumal wells to restart production from the field. And in September the company signed up to explore the 365 sq km Maranta block, which lies in the southwest of the country and to the northeast of the producing fields of the Putumayo basin.
< back
http://www.oilbarrel.com/home.html

TIGRIS
on the 7th December Tigris drill depth was 3435mtrs,and estimated the remaining
1065mtrs would take a further 45 days to drill and evaluate with wireline logs,
If the estimated days are correct the 45 days are up on Sunday 21st January,
So we are 9 days away from an announcement provide they are on schedule,But
there could be announcement during next week if they are ahead of the schedule.

Or a month later if they need time to collect/analyse the results. It seems highly likely they will be core sampling/wireline logging or what have you as they retreat from the total depth - this is a time consuming process. I'm not holding my breath until I see the RNS.

AURELIANO
On the 13 December Aureliano was spuded and estimated to take approximately 35 days to drill to the planned measured depth of 8,600 feet,Emerald have not mentioned evaluate and wireline log,the work period for evaluating wirelog may have to be added, The 35 days are up on monday 22nd January,So we are about 10 days approx away from news provide they are on schedule

October 2006
EMERALD ENERGY Plc

58 km 3D seismic program over Gigante field IN PROGRESS




------------------------------------------------------------------------------

Page 2
Colombia Gigante field background

History of well Gigante #1A

G#1A was drilled in 1998 and discovered oil in Tetuan reservoir

Well suffered a blowout in May 2000 and sustained damage to the near well bore during the well kill operations

Gigante #1A has produced over 2.2 million bbl of 31% API oil since 1999

Reserves* (gross 100%) and Reserve Life

Proven & Probable (2P) 7.6 mmbbl 33 years

Proven, Probable & Possible (3P) 17.8 mmbbl 78 years

*Reserves = Emerald estimate as at 30/06/2006, based on RPS reserves report adjusted for production **Reserve Life = reserves/annual production


-------------------------------------------------------------------------------
Page 3

Colombia - Potential of Gigante field

Opportunity of Tetuan formation

Current average production of G#1A is 800-900 bbl/day of 31% API oil from 23 ft net thickness of reservoir.

Initial production rates for G#1A after fracture stimulation in 1999/2000 (i.e. preblowout) of up to 4,000 bopd

Additional wells will increase field production rate and overall recovery of reserves during term of Matambo Association Contract

Exploration Upside of Caballos formation
Re-test deeper Caballos reservoir - 3 bbl of oil was recovered during DST (1998)
Potential of up to 180 ft of reservoir thickness

Emeralds estimate of resources are

P90 estimate - 11 mmbbl

P50 estimate - 15 mmbbl

P10 estimate - 22 mmbbl


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Page 4

Colombia Gigante #2 relative to Gigante #1A


-------------------------------------------------------------------------------
Page 5

Colombia Gigante #1A electric wireline logs Tetuan (current producing zone) Caballos

DST 1

203 bbl water

DST 2

58 bbl water 3 bbl oil

DST 3

2,260 bopd oil


-------------------------------------------------------------------------------
Page 6

The 3D seismic dataset will be used to:

1. improve structural interpretation of Gigante field

2. selection of drilling locations for future development wells

Colombia Gigante 58km 3D seismic program


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Page 7

Colombia Proposed activities for Gigante #2

2006 Activities

Acquire 58km 3D seismic Q4 2006 (in progress)

2007 Activities

Process & interpret 3D seismic select drilling location

Decision milestone based on 3D interpretation, rig availability and funding (see page 11)

Order long lead time items (casing, well head, etc)

Contract suitable drilling rig

Mobilise rig

Spud well, commence drilling to 16,000ft Production Facilities

Put Gigante #2 on production using facilities at Gigante #1A


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Page 8

Colombia - Gigante #1A well and field processing facilities


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Page 9

Colombia - Gigante field loading facilities


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Page10

Colombia Commercial terms of Matambo Association Contract

Emerald will pay 100% of the drilling costs for Gigante #2

If, after drilling Gigante #2, Ecopetrol declares commercial status

Ecopetrol backs in for 50% working interest in the discovery

Ecopetrol receives 50% of the production after royalties and pays 50% of all
future costs

Emerald entitled to recover Ecopetrols 50% share of exploration costs, including 3D seismic costs

Reimbursement of 50% of Emeralds drilling costs of Gigante #2 will be available to fund future development drilling of Gigante field.


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Page 11

Colombia Drilling Gigante #2

Investment case Gigante #2 has potential to:

Substantially increase production from Gigante field

Produce more 31 % API oil with higher sales value

Recover 4 mmbbl from Tetuan, equivalent to buying producing reserves at $6/bbl

Discover new reserves in the lower Caballos with finding costs of between $1 to $2 per bbl

Financing options for Gigante #2, estimated cost of up to $25m

Raise additional funds through issue of new shares

Seek farmin partner to finance all or part of drilling costs

Debt

All options being explored by management

http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf

The reserves in the PDF refers to drainage area of oil Giante#1a in contact with.
http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf


from 1998 RNS see link bottom of post
Giante#1a estimated drainage area of 2.6 square kilometres,Emerald have calculated that assuming uniform reservoir characteristics within the Tetuan Formation this would give between 400 million and 580 million barrels of oil in place within the estimated 30 square kilometres of the Gigante structure

From website
The Gigante field has been defined as an area around Gigante #1A well with a radius of 733m
http://www.emeraldenergy.com/OnP-Matambo_Gigante.htm


The field now believed to be a lot larger than the 30kilometers square the old Management believed the Gigante structure to be, hence the 58kilometers 3D seismic program Emerald have in progress,and the 3D seismic almost twice the size of the 30kilometers the old management said,so how many million barrels
far far far more than the P90,P50, P10,Emerald showing in the PDF


for the following see link at bottom of post

GIGANTE POTENTIAL DOUBLES Emerald Energy Plc, the UK based oil exploration company, with the bulk of its exploration activities in South America, announces that independent consulting engineers, Blackwatch Petroleum Services Limited have advised the Company that, based on their analysis of the latest pressure and production data from the Gigante 1A well in the Upper Magdalena Valley in Colombia, that this well alone is in contact with between 35 million and 50 million barrels of oil in an estimated drainage area of 2.6 square kilometres.
http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf

Emerald have calculated that assuming uniform reservoir characteristics within the Tetuan Formation this would give between 400 million and 580 million barrels of oil in place within the estimated 30 square kilometres of the Gigante structure. This represents a significant increase over the Company's earlier estimate in August, of 200 million barrels of oil in place.
http://www.advfn.com/p.php?pid=nmona&cb=1168784899&article=992694&symbol=L%5EEEN

Re Aureliano, I may not be a mathematical genius, but I make the 35 days up tomorrow (Wednesday).

I also make Tigris target date Sunday, so possible announcement Monday, the RNS said that the 45 days would include testing and analysis.

AndyH78

sorry I allowed Dec24,25,26, 31, Jan1 OFF for Colombia but did not explain in post
and straight through for Syria but Syria now early Feb as per Jan 07 presentation PDF on GPX website.

Thanks DFGO, no access to the "other board" at work, so only get chance to catch up at the weekend, but there's a lot of posts......

Any reason stated for the delay at Syria?

Andyh78
sorry for delay,been out today so only posted on advfn this mornning.

All following on Gulfsands PDf,no RNS issued
Exploration and Apprisal in Syria

Additional Potential Syria, EOR projects in large existing fields.

Tigris drilling to be complete in Febuary,no reason given [possibly due xmas/new year break]

Two further wells in 2007

Next well to spud in March 2007 "Khurbet East Heart Land Trend" Syria


http://www.gulfsands.net/i/pdf/Gulfsands-Corporate-Presentation-Jan07.pdf

some history about Giante#1a field.
A new well Giante#2 to spud towards end 2007 most likely Qtr4

All taken from Company RNS.



DFGO - 19 Jan'07 - 19:26 - 22462 of 22468 edit


bob,et al
In the following from 1997 interims results the Matambo block covers 15.7sq km
and the 1992 Giante1 well was drilled to 13,419ft oil was produced from a higher secondary target at around 13,000ft.

Schlumberger Geoquest estimated, using reasonable assumptions for reservoir parameters, that the Gigante structure could contain 920 mbls of oil in place.

I take the Schlumberger Geoquest are refering to the 15.7sq km not the block as we know now.

Although show it as The Matambo Block south of Neiva in the Upper Magdalena Valley covers 15.7 sq km they are refering to Giante field.

2/9/97
GIGANTE WELL TARGET AT 15,500FT

The Matambo Block south of Neiva in the Upper Magdalena Valley covers 15.7 sq km and is 40km south-west of the main pipeline terminus at the Yaguara oilfield. Emerald says the original well location will be used to side-track from the existing Gigante 1 well in order to test the primary target at about 15,500ft.

Gigante 1 was drilled on the crest of the structure to a depth of 13,419ft in 1992. Oil was produced higher up from a secondary target at around 13,000ft.

Schlumberger Geoquest estimated, using reasonable assumptions for reservoir parameters, that the Gigante structure could contain 920 mbls of oil in place.

http://www.advfn.com/p.php?pid=nmona&cb=1169222583&article=669111&symbol=L%5EEEN
---------------------------------------------------------------------------
In the following Directors estimate that the area of the Tetuan structure lies between 15.7 square kilometres and 31.0 square kilometres.

So it would appear that the Schlumberger Geoquest estimated, using reasonable assumptions for reservoir parameters, that the Gigante structure could contain 920 mbls of oil in place,Refered to in the 15.7sq km.

The uncertainty of 15.7 square kilometres and 31.0 square kilometres,being due to the relatively low seismic coverage on the block at present.

And no where near the 50sq km we know the field to be now.

Emerald Energy PLC - Placing & Open Offer
RNS No 9049f EMERALD ENERGY PLC 1st February 1999
Using information gathered from the test programme, independent consulting engineers calculate that there are 6.64 million barrels of oil in place per square kilometre for the tested interval in the Tetuan Formation.
The Directors estimate that the area of the Tetuan structure lies between 15.7 square kilometres and 31.0 square kilometres, the uncertainty being due to the relatively low seismic coverage on the block at present.
Using a recovery factor of 30 per cent, this gives indicative reserves in the range 31 to 62 million barrels of oil.
There is the potential for substantially more reserves within the block should the structure be proven by new seismic data to extend into a large structure in the adjoining Gaitanas block.
In addition, if the underlying Caballos reservoir flows oil, then the estimated overall reserves in the field could increase several times over.

http://www.advfn.com/p.php?pid=nmona&cb=1169229929&article=878278&symbol=L%5EEEN
--------------------------------------------------------------------
Emerald Energy PLC Final Results
RNS Number:0493C Emerald Energy PLC 12 April 2001

We acquired 145kms of new seismic across the Gigante field.
The Block has been remapped and the area under closure within the block determined at approximately 50 square kilometres compared with our initial estimate of 30 square kilometres

The Directors consider that the Upper Caballos could contain 350 million barrels of oil in place attributable to Emerald within the Gigante structure.

The potential reservoir in the Lower Caballos is approximately three times as thick as the zone currently producing in the Upper Caballos and therefore provides an exciting target.



http://www.advfn.com/p.php?pid=nmona&cb=1169232822&article=637256&symbol=L%5EEEN

And figure of 930 million barells including 700million in the Lower Caballos.
not got time to find RNS at the moment because my dinner ready but will post
it tomorrow
-------------------------------------------------------------------------------------------------
Edit
The following from above 12/4/01
We acquired 145kms of new seismic across the Gigante field.

The Block has been remapped and the area under closure within the block determined at approximately 50 square kilometres compared with our initial estimate of 30 square kilometres

And the following is the result of 145kms of new seismic across the Gigante field
and remapping .

The Giante Field increased in size to 50sq km from 30sq km

And It is currently estimated that the field has 'oil in place' of around 930 million barrels, 230 million barrels in the formation that is currently producing, the Tetuan/Upper Caballos, and 700 million barrels in the deeper Middle Caballos

Of major interest to shareholders will be the progress of the Iskana #1 exploration well currently being drilled on the adjacent block by TotalFinaElf

There may be structural connection between Iskana and Gigante and success in the former might suggest increased reserves in our field.

RNS Number:8629K Emerald Energy PLC
28 September 2001

In preparing the information for the data room we have been once again reminded of the scale of our discovery at Gigante.

It is currently estimated that the field has 'oil in place' of around 930 million barrels, 230 million barrels in the formation that is currently producing,

the Tetuan/Upper Caballos, and 700 million barrels in the deeper Middle Caballos. Assuming the drilling of some eight development wells and at least three water injection wells.

A 30% recovery factor would give proven and probable reserves of around 280 million barrels, of which approximately 80 million barrels would be attributable to Emerald after Ecopetrol back-in and payment of a 20% government royalty.

Of major interest to shareholders will be the progress of the Iskana #1 exploration well currently being drilled on the adjacent block by TotalFinaElf.

This well, which in many ways can be regarded as a step-out well from Gigante #1A, is some 8 kilometres to the east.

We have agreed with Ecopetrol that, given the importance of the results from Iskana to the future development of the Gigante field, the location of Gigante #2 will not be finalised until after we have had the opportunity to incorporate the new data later this year.

There may be structural connection between Iskana and Gigante and success in the former might suggest increased reserves in our field.
http://www.advfn.com/p.php?pid=nmona&cb=1169258940&article=1722560&symbol=L%5EEEN

Emerald showing 230 million barrels in the formation that is currently producing, the Tetuan/Upper Caballos, and 700 million barrels in the deeper Middle Caballos,
and Lower Caballos not Mentioned

In 12/4/01 RNS The potential reservoir in the Lower Caballos is approximately three times as thick as the zone currently producing in the Upper Caballos and therefore provides an exciting target.

Are there 3 Caballos Upper,Middle,and Lower? and is this where Schlumberger Geoquest estimated, using reasonable assumptions for reservoir parameters, that the Gigante structure could contain 920 mbls of oil in place for the15.7sq km?




DFGO - 20 Jan'07 - 13:51 - 22467 of 22468 edit


cfc,bob et al
1.Giante depth 15,790 ft,Giante2 Target depth 16,000ft
RNS No 3354v EMERALD ENERGY PLC
23rd September 1998
EMERALD ENERGY COMPLETES LOGGING AT GIGANTE 1A WELL IN COLOMBIA AND PREPARES FOR TESTING Oil & Gas Shows Recorded Over More Than 350ft Of Gross Pay

Emerald Energy announces today that its Gigante 1a exploration well in the Upper Magdalena Valley of Colombia has reached a total depth of 15,790ft within the top of the basement. The well has been logged and is being prepared for a programme of tests.
cfchttp://www.advfn.com/p.php?pid=nmona&cb=1169292025&article=825036&symbol=L%5EEEN

----------------------------------------------------------------------
2.RNS No 3749p EMERALD ENERGY PLC
9th November 1998
The tests were conducted over a gross hydrocarbon column of 365ft identified by the logs, encompassing the entire Tetuan (180ft) and underlying Caballos (185ft) formations.
The objective was to evaluate the hydrocarbon shows encountered during drilling, subsequently confirmed by logging; good porosity, permeability and oil saturations were indicated.

The DST-3 shows depth Tetuan 58ft[58ft Tetuan depth shown due to mud damage see
4 below]

Emerald only showing depth of Tetuan 23ft in the Oct 27th 2006 PDF
http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf


DST-3 (15,372-15,430ft) tested the uppermost Tetuan fractured limestones and sandstones over an interval of 58ft, and flowed at a stabilised rate of 2,250BOPD of good quality 33.1 API oil through a 80/64-inch choke, with 950,000SCFD gas.
http://www.advfn.com/p.php?pid=nmona&cb=1169294556&article=845491&symbol=L%5EEEN

-------------------------------------------------------------------------
3.Also showing 58ft

cfc, A lot of info in this RNS whats your opinion about.

If this study has a positive outcome, the Company would hope to prove significant additional reserves both in Gigante and the Matambo block as a whole.

Are they iyo still refering to Schlumberger Geoquest figure for Giante ref the 15.7sq-31.1 sq km or all the Matambo Block.?

RNS No 9049f EMERALD ENERGY PLC
1st February 1999
OPERATIONS IN COLOMBIA - MATAMBO ASSOCIATION CONTRACT In November 1998 the Company completed the drilling and testing of the Gigante #1A well on the Matambo block. On test the well flowed 2,250 barrels per day of good quality (33.1 API) oil together with 950 thousand cubic feet of gas from a 58 ft interval in the Tetuan Formation, one of the two targeted reservoirs.
http://www.advfn.com/p.php?pid=nmona&cb=1169294804&article=878278&symbol=L%5EEEN

-----------------------------------------------------------------
4.The reason 58ft Tetuan depth shown due to mud damage.[Tetuan depth 180ft]

RNS No 3858d EMERALD ENERGY PLC
23 August 1999
The establishment of commercial production from the Tetuan Formation, which also had high levels of mud damage
http://www.advfn.com/p.php?pid=nmona&cb=1169293948&article=980482&symbol=L%5EEEN

sorry links not working

I need your help, guys - from one of the more knowledgeable oil threads around.

I have 10% of my portfolio in oils spread across 4 shares - half the normal 5% I allocate to each of my stocks before going overweight.

I now realise I don't know very much about oil stocks and am being drawn towards more trading stocks like ASC, COH, DGT, MYH, RCG which I find I do understand and can do my own analysis (on margin, ROCE, EPS, PE, PEG etc) pretty competently. Whereas I fins oils a mixture of prosaic trading and pure speculation. Much as I like a flutter, it's not a reliable way of building my pot for me. So I'm contemplating reducing/extinguishing my exposure to oils.

Of the four stocks I hold, CHP, EEN, FOGL and SEY (all of which appear to be on the brink of the "big break through" - well, maybe FOGL has a yeaer of two longer to wait than the others) in what order would you advise me to dispose of each in turn - leaving the best prospect till last, of course?

Perhaps I know what the answer from this thread will be, but nonetheless TIA!

www.oilbarrel.com

The Tigris prospect is on Block 26 in Syria. This is an 11,000 tranche of acreage, equivalent in size to 50 North Sea blocks. It lies in a proven oil and gas province - the block is home to fields that are producing over 110,000 barrels of oil per day for the state firm, the Syrian Petroleum company (SPC). There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous and Triassic reservoirs which are thought to total 3 billion barrels of recoverable oil.

However Gulfsands Production Sharing Agreement (PSA) gives it - and its 50/50 partner Emerald Energy - rights to the deep Palaeozoic reservoirs under the existing shallower fields.

These deeper prospects have been drilled before; the S1100 well was sunk by the SPC in 1994 but ran into technical problems after having identified potential hydrocarbon bearing zones with wireline logs. These were not tested because of mechanical difficulties and the well was abandoned.

The partners Tigris-1 well was spudded on September 26. This well will go down to 4,500 metres to target the carboniferous and Devonian-aged reservoirs that lay directly under the Soudieh field, the largest field in Syria.

The company last reported progress on the well in the middle of December. At that point Gulfsands said it had set 9/5/8 casing at a depth of 3,435 metres. At this depth, therefore, the well had entered the Palaeozoic aged section, or the groups own rocks. It also said that the well should reach target depth within a further 35 days. This is about now so we are into holding our breath territory. Independent reservoir engineers, the Ryder Scott Company, estimates the structure could have probable reserves of 442 bcf of gas which combined with possible and prospective resources, total a potential resource of 4.3 tcf of natural gas or 562 million barrels of oil. Watch this space.

keep a eye on Emerald waiting on Aureliano#1 Exploration well in Fortuna Block
Colombia,And Tigris#1 block 26 Syria, drill results.

RNS Number:1924Q
Emerald Energy PLC
26 January 2007


Emerald Energy Plc


26 January 2007


Helen Exploration and Production Contract Award in Colombia


Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that it
has been awarded a new exploration & production contract (the "Contract") in
Colombia and has entered into an agreement with a co-venturer to jointly explore
the contract area.


The Helen Contract, awarded by the National Hydrocarbon Agency of Colombia
("ANH") is located in the Putumayo Basin in south-west Colombia and covers an
area of 213 sq. km. The initial phase of the exploration period is up to 16
months and the minimum work programme comprises the acquisition of 30 km of new
2D seismic data and the re-processing of 120 km of existing 2D seismic data. If
the second phase is entered, the minimum work programme includes the drilling of
1 well to an estimated depth of 10,000 ft.


Emerald has entered into an agreement with Vetra Energy Group LLC ("Vetra"),
subject to approval by the ANH, under which Vetra will undertake 100% of the
cost of the initial phase of exploration and will be assigned an 85% interest
in, and operatorship of the Contract. Emerald will retain a 15% interest in the
Contract and will be fully carried through the initial phase of exploration.


Emeralds' Chief Executive Officer, Angus MacAskill, said:


"We are very pleased with the award of our third ANH E&P Contract in Colombia.
The new contract builds our position in the Putumayo Basin and the deal with
Vetra minimises our capital exposure while retaining a material interest. We
look forward to working with our new partners in this area."

Seems a rather lowly 15% interest. Do they have back-in rights?

Any oileraks out there know how good a block this is? Any previous drilling on it?

TIA

I'm sure Bob will provide some good info on "the other board"

A well timed announcement, the chart was beginning to look rather dodgy.

Emerald Energy awarded new contract in Colombia, to explore it in JV with Vetra


LONDON (AFX) - Emerald Energy said that it has been awarded its third
exploration & production contract in Colombia and has entered into a joint
venture with Vetra Energy Group to explore the area.
The Helen Contract, awarded by the National Hydrocarbon Agency of Colombia,
is located in the Putumayo Basin in south-west Colombia and covers an area of
213 square km, said Emerald.
The firm said the initial phase of exploration is up to 16 months and the
minimum work programme comprises the acquisition of 30 km of new 2D seismic data
and the re-processing of 120 km of existing 2D seismic data.
If the second phase is entered, the minimum work programme includes the
drilling of one well to an estimated depth of 10,000 ft.
Vetra, a private company created by Venezuelan state oil company executives,
will undertake 100 pct of the cost of the initial exploration and will have an
85 pct interest in, and operatorship of, the contract, while Emerald will retain
a 15 pct interest.
Emerald's chief executive Angus MacAskill said: "The new contract builds our
position in the Putumayo Basin and the deal with Vetra minimises our capital
exposure while retaining a material interest."
newsdesk@afxnews.com
ro

stockdog,AndyH78
Emerald will retain a 15% interest in the Contract and will be fully carried through the initial phase of exploration.

A good deal really 15% for doing nothing in initial phase of exploration.
Vetra will pay for seimics, which be several hundred thousand dollars.
Emerald can use cash they would have paid for seimics and also time involved elsewhere.

A ANH contract,only 12.5 tax to pay on production,No back in involved.
Emerald will retain a 15% interest in the Contract and will be fully carried through the initial phase of exploration.
The initial phase of exploration would be the minimum work programme comprises the acquisition of 30 km of new 2D seismic data and the re-processing of 120 km of existing 2D seismic data,.
Emerald paid $888,000 for Helen block see my following post fro advfn.


DFGO - 23 Jan'07 - 16:29 - 22519 of 22612 edit


vav
your asking bob for the link ANH CONTRACTS Emerald have Announced Maranta Bloc, And Ombu Block.

Emerald have not ANNOUNCED HELEN BLOCK YET

In addition, the ANH signed three contracts of exploration and production with the company Emerald Energy. First of these contracts it is for the Marantblock, in the river basin of the Putumayo, that has 36,608 hectares and its program of activities in first stage requires of investments by 816 thousand dollars.

To the same company the Agency adjudged to him, also in Putumayo, the block Helen with an area of 21,256 hectares and a plan of investment that reachs the 888 thousand dollars in his first stage.

The third contract is for the Ombblock, located in the region of the Cagu - Vaup, that has 29,900 hectares and an exploratory plan of 11 months in first stage with investments by 1 million 203 thousand dollars

Emerald Energy PLC
29 January 2007


Emerald Energy Plc

29 January 2007


Aureliano No.1 Well Update


Emerald Energy Plc ('Emerald' or the 'Company') would like to provide the
following update on the status of the Aureliano No.1 exploration well in the
Fortuna Association Contract area in the Middle Magdalena Valley in Colombia.
Emerald has a 90 percent interest in this contract.


The well has been drilled to a total measured depth of 8,745 feet with a maximum
deviation through the target formations of 45 degrees. The target La Luna
limestone formations were encountered as forecast, hydrocarbon shows were
recorded while drilling the La Luna sections and analysis of the electric
wireline logs indicates the presence of potential hydrocarbon-bearing zones.


The well has been prepared for production testing to determine the productivity
of the reservoirs encountered. The programme includes the use of natural flow,
artificial lifting, and stimulation to establish well flow rates. The programme
has commenced and is anticipated to take up to 2 months to complete.


A detailed study of all the data acquired during the drilling and testing of the
well will be undertaken to determine both the production potential of the well
and the potential for further development drilling of the Aureliano
accumulation.


With the drilling phase completed, the drilling rig, Saxon 223, is being
de-mobilised from the location. This rig will now go on loan to another operator
to drill one well prior to returning to Emerald in April to continue with
Emerald's 2007 drilling programme.


Emeralds' Chief Executive Officer, Angus MacAskill, said:

'We are very encouraged that the results of the well, to date, are consistent
with the pre-drill prognosis and we look forward to the outcome of this next
critical phase of production testing. If successful, there is potential for
further development in this area.'


Enquiries: Helen Manning 020 7925 2440

What 2 pieces of news within a week, we are being spoilt.Seriously todays
news is most encouraging for us long termers, if the expected news regarding Tigris is as positive as todays then we'll have some real vertical?
cyril

niceonecyril

hopefully it's a producer they have encountered reservoirs and there must be a good chance of flowing oil.

Good update for me, slightly disapointing second half production but current production well above 7,000 bopd.

A little more detail on the progress of Tigris would have been nice though.

But good to see further Colombian contracts added.

AndyH78

Giante#1A 1050bopd
Campo Rico #1#2#3 combine 1,300bopd
Vigia#1#2#3 combine 550bopd
Centauro#1#2 combine 700bopd

second half of 2006 total 3,600bopd

Aha, misread the RNS, thats what you get for trying to access MoneyAm on your mobile, I double the counted the 3,600.

Thats why the share price hasn't done anything then.........

niceonecyril,AndyH78

Saxon Rig223 will not be returning to Fortuna Block

Emerald will source local RIG at Aureliano if determined to be COMMERCIAL

In Colombia the Company is evaluating the Aureliano structure and if determined
to be commercial will source a local drilling rig to commence an appraisal and
development drilling programme.

The Saxon Rig 223 will proceed with Emerald's exploration and development drilling schedule.

The Saxon Rig 223 will return to Emerald's Llanos operations in the second quarter of 2007 and will resume drilling in the Campo Rico Block.

The Saxon Rig 223 will proceed with Emerald's exploration and development drilling schedule.

The Saxon Rig 223 is now on loan,And is expected return to Emerald in the second quarter of the year and proceed with Emerald's exploration and development drilling schedule,which includes the drilling of Campo Rico No. 4 well in the Campo Rico field.

Emerald Energy says H2 daily gross production 3,663 bopd vs 3,677 bopd in H1
AFX


LONDON (AFX) - Emerald Energy said that its daily gross production in the second half of 2006 was 3,663 barrels of oil per day, down from 3,677 bopd in the first half.

In an operations update, the firm said production in the second half had been affected by the failure of an electric submersible pump in the Gigante No1A well and a subsequent two week shut-in.

Looking ahead at its Colombia ops, the company said it is evaluating the Aureliano structure and, if determined to be commercial, will source a drilling rig to begin an appraisal.

The Saxon Rig 223 is due to return to Emerald's Llanos operations in the second quarter of 2007 and will resume drilling in the Campo Rico Block, while seismic acquired over the Gigante structure is being processed and will be used to finalise the drilling plans for the Gigante No2 development well, it said.

Emerald added that it continues to identify prospective acreage in Colombia to be explored, as well as 'growth opportunities' in other geographical areas.

In Syria, meanwhile, the company said it is committed to drilling at least two more exploration wells before August 2007, when the initial exploration phase for Block 26 ends.

Angus MacAskill, Emerald's chief executive, said: '2007 will be an exciting year for Emerald starting with the results of Tigris and Aureliano exploration wells expected in the first quarter, development activities in Campo Rico and Gigante in Colombia, two further exploration wells in Syria and the advancing of exploration activity in Colombia.'

Andyh78

yes

but good news that Giante#1 now producing 1,050bopd @ $50 = $52,500 a day.

Current production even lower at 3,600 bopd - what do you mean good news about Gigante?!?!

Terrible RNS saying nothing that gives any comfort as to why production is worse than stagnant, nothing new has gone into production for god knows how long, and very ambivolent use of the word "exciting" about two wells that should have been drilled and tested by now enough to say whether there is oil there or not.


Heaven save us from the bad news, DFGO, when it comes.

DFGO;
Tend to agree with stockdog,so many promises regarding production,with
no increase leaves us vunerable to any bad news. A positive result from Tigris, is
a must now.
With about 100 mtrs to go it can't be long now.
cyril

Better news today on Syria update with drilling of Khurbet East mid Feb

Yep the third and fourth wells to be drilled within a few month.
Even if Tigris is dry, the odds are they'll hit a fairly big one before long.
SP should be substantially higher by end of the year.

stockdog
In 2005 giante average 676bopd.

The good news about Giante.

1.Giante produces 32 degree API oil.

2.And gets WTI price per barrel

3.The Giante average 627bopd in first six months of 2006, Althrough being shut down for workover, and fitting new casing,ESP,etc.

4. The first 6 months = 181 days x daily average 627bopd = 113,487barrells @ $50 x = $5,674,350

5.End Sept 2006 Giante daily average of 891bopd a 24.13% increase over 2005 and
a 30.37% over 1st half 2006

6.9 month production = 273 days x daily average of 891bopd = 243,243 @ $50 =
$12,162,150

I have done workings @ $50 but WTI oil price not been that low this year,And in H1
a lot higher.

Still looking for 50p - getting closer all the time.

Still over-vauled

Was expecting to hear your 50p haystack - too predictable! No reasonings and no useful comments.

I have held Emerald Energy a number of times over the last ten years or so. I ended up with a small loss overall but only by luck. They seem to be able to find bad exploration sites time and time again.

Emerald Energy PLC
19 February 2007


Emerald Energy Plc


Drilling Update: Khurbet East No.1, Block 26, Syria


Emerald Energy Plc ('Emerald' or the 'Company') would like to provide the
following update on activities in Block 26, Syria.


The Khurbet East No.1 exploration well has been spud by the Crosco 602 rig. The
Khurbet East prospect is a fault-bound structural culmination, with closure
mapped at several potential reservoir levels including Cretaceous, Triassic and
Palaeozoic ages. The Block 26 partners have exploration rights in all reservoir
levels in this prospect.


The Khurbet East prospect is located approximately 12 kilometres southwest of
the Souedieh Oil Field and 12 kilometres south of the Roumelan Oil Field.


The total drilling depth of the Khurbet East No.1 well is expected to be 3,700
meters and will require approximately 100 days to drill and evaluate.


The fourth commitment well in the block is planned to be drilled by the MB3
drilling rig when it returns from drilling wells for the rig-share partner. The
rig is expected to return around July 2007.



Emeralds' Chief Executive Officer, Angus MacAskill, said:


'We are pleased to be progressing with the exploration activity in Block 26 and
look forward to the outcome of the Khurbet East No.1 exploration well.'



Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG
Overseas Ltd.



Enquiries: Helen Manning 020 7925 2440


19 February 2007

Gulfsands Petroleum PLC
19 February 2007

Khurbet East Well Commences in Syria



London, 19th February, 2007: Gulfsands Petroleum plc (AIM: GPX), the oil and
gas production, exploration and development company with activities in the
U.S.A., Syria and Iraq is pleased to announce that the Company has commenced
drilling the Khurbet East ('KHE 1') exploration well within Block 26, Syria.



Gulfsands, the operator and 50% working interest owner in Block 26, Syria, has
commenced the drilling of the KHE 1 exploration well located in the northeast
region of Block 26. The KHE 1 prospect is a fault-bound structural culmination,
with closure mapped at multiple potential reservoir levels. These include
reservoirs of Cretaceous, Triassic and Palaeozoic age. The well is located
approximately 12 kilometers southwest of the Souedieh Oil Field and 12
kilometers south of the Roumelan Oil Field. The total drilling depth of the KHE
1 well is expected to be approximately 3,700 metres and will require
approximately 100 days to drill and evaluate at an estimated cost of $7.2
million, or $3.6 million net to Gulfsands.



After drilling the KHE 1 well, the Company is planning to drill its fourth '
commitment well' on Block 26 following the return to Gulfsands of the high
powered rig used for drilling the Tigris-1 well, which is anticipated to occur
around July 2007.





Gulfsands' CEO, John Dorrier, said:



'The Company's PSC conveys rights to all depths in the Khurbet East area, so the
prospect has potential in multiple zones including the proven productive
reservoirs of Cretaceous and Triassic age in the fields just north and east of
the prospect location, as well as potential reservoirs in the Palaeozoic. In
the event of an oil or gas discovery at Khurbet East, commercialisation would be
relatively straightforward through production infrastructure located only 12
kilometers away near Roumelan Field.'

Emerald Energy Update


RNS Number:9052R
Emerald Energy PLC
27 February 2007


Emerald Energy Plc


27 February 2007


Centauro Sur Reserves


Emerald Energy Plc ("Emerald" or the "Company") would like to provide the
following update on the Centauro Sur field in the Campo Rico Association
Contract area in the Llanos basin in Colombia.

RPS Energy has completed an independent reserves evaluation of the Centauro Sur
field using standard petroleum engineering techniques combining geological and
production data with reservoir fluid characteristics and pressure information.
Their reserve and resource estimates are based on the joint reserve definitions
of the Society of Petroleum Engineers, the World Petroleum Congress and the
American Association of Petroleum Geologists, which are widely used in the
petroleum industry.

The Proved plus Probable ultimate oil recovery of the field has been estimated
at 694 thousand barrels. The Proved plus Probable plus Possible ultimate oil
recovery of the field has been estimated at 964 thousand barrels.

The Centauro Sur field was discovered in April 2006 with the Centauro Sur No.1
well, which was put on production by the end of April 2006. A second well,
Centauro Sur No.2, was drilled and commenced production in July 2006. The two
wells currently have a combined oil production rate of about 700 bopd.

A flow line has been installed between the Centauro Sur field and the Campo Rico
field production facilities so that the fluids may be gathered and processed
cost-effectively using the existing facilities.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

"We are very pleased to have been able to use our experience in the Campo Rico
block to discover additional reserves and develop them effectively using the
existing production facilities. The Centauro Sur field is our third field
discovery in this block and we are continuing to identify additional
opportunities within the block."

Three oil fields that have produced from the Lisama sands lie just to the south of the Fortuna block.
The first Lisama prospect.
Silfide #1, has been drilled and discovered hydrocarbons in the Umir formation. On initial testing 38 bbls of 16.2 degrees API oil was recovered during swabbing operations. Analysis of seismic.
drilling and logging data indicates that Silfide #1 has penetrated a secondary target and not the primary main Lisama sands.
Silfide #1 well is currently shut-in while a hydraulic fracture stimulation operation is being prepared.
Emerald has applied to Ecopetrol for commercial status for development of the Silfide field; a decision is expected after the hydraulic fracture stimulation operation
Edit
Silfide #1 produced over 2000 barrels of oil since being drilled in 2005 and waiting decision on the fracture stimulation.
dyor

The Aureliano No.1 well was drilled to its total depth of 8,745 ft in January 2007. The well is currently being flow tested to determine the potential of the Aureliano structure as a commercial development.
The initial testing is expected to be completed before the end of the first quarter 2007

Following drilling, the well is being production tested to determine the productivity of the reservoirs encountered.
The programme includes the use of natural flow, artificial lifting and stimulation to establish well flow rates.
In Colombia the Company is evaluating the Aureliano structure and if determined to be commercial will source a local drilling rig to commence an appraisal and development drilling programme.
The Saxon Rig 223 will return to Emeralds Llanos operations in the second quarter of 2007 and will resume drilling in the Campo Rico Block.
dyor

Emerald Energy PLC
19 March 2007


Emerald Energy Plc

19 March 2007

Jacaranda Exploration and Production Contract Award in Colombia

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to announce that it
has been awarded a new exploration & production contract in Colombia. The
Jacaranda Contract, in which Emerald has a 100% working interest, covers an area
of 235 sq. km and is located in foreland of the Llanos Basin, in Colombia, 130
km to the southwest of the Company's Campo Rico operations.

The initial phase of the exploration period is 12 months and the minimum work
programme comprises the acquisition of 40 km of new 2D seismic data, seismic
attribute processing of 25 km, and the re-processing of 25 km of existing 2D
seismic data. If Emerald elects to enter the second phase, the minimum work
programme includes the drilling of 1 well to an estimated depth of 6,000 ft.

The Jacaranda Contract has been awarded by the ANH, the National Hydrocarbon
Agency of Colombia, and a copy of the model contract terms can be found on the
ANH website (
www.anh.gov.co
).

Emeralds' Chief Executive Officer, Angus MacAskill, said:

'We are very pleased with the award of our fourth ANH E&P Contract in Colombia.
Over the next year we will acquire and interpret data in these new areas to
define a portfolio of drillable prospects for future growth.'


Enquiries: Helen Manning 020 7925 2440

Emerald Energy PLC
28 March 2007


Emerald Energy Plc


28 March 2007


Drilling Update: Khurbet East No.1, Block 26, Syria


Emerald Energy Plc ('Emerald' or the 'Company') would like to provide the
following update on activities in Block 26, Syria.


The Khurbet East No.1 exploration well is drilling ahead at a depth 2,450
metres. The Khurbet East prospect is a fault-bound structural culmination, with
closure mapped at several potential reservoir levels including Cretaceous,
Triassic and Palaeozoic ages.


Hydrocarbon shows were encountered while drilling the Tertiary Chilou and
Cretaceous Massive formations. A core was cut in the Chilou formation and
wireline logs were run over both sections. The wireline logs indicated a gross
hydrocarbon interval of 31 metres and a net hydrocarbon interval of
approximately 22.5 metres in the Massive formation with some additional
potential in the Chilou formation that requires further evaluation. The presence
of hydrocarbon in the Massive formation was confirmed by a wireline formation
pressure sampler which recorded a hydrocarbon gradient over the interval and
retrieved a sample of 21 degree API gravity oil to surface. The wireline
formation pressure sampler was not run in the Chilou formation as the tools
available were not suitable for large diameter well bores.


Drilling is now planned to continue to the total drilling depth of approximately
3,700 metres to evaluate the other prospective intervals.



Emeralds' Chief Executive Officer, Angus MacAskill, said:


'We are very pleased to have encountered hydrocarbon in the shallow prospective
section of the Khurbet East No.1 exploration well and look forward to a full
evaluation of the well after drilling to the Triassic and Palaeozoic prospective
sections.'



Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG
Overseas Ltd.



Enquiries: Helen Manning 020 7925 2440