http://emerald-energy-een.blogspot.com/


I decided to start this thread due to the lack of interest via the other thread?
Today EEN with its partner GPX released what can only be described as outstanding news, a 3rd appraisal well in a field couple of kms across flowed 3420bo on a small choke, unaided and they still have not found the limits of this field. Reserves will released in the next 3 weeks and could go as high as 100mbo(speculative).
The market has yet to digest this latest news and imo the SP is still in the bargain range?

http://www.emeraldenergy.com
http://www.investegate.co.uk/Article.aspx?id=200812220700095529K
http://www.investegate.co.uk/Article.aspx?id=200901260700092060M
http://www.emeraldenergy.com/documents/20090126EENInvestorPresentation.pdf/
http://www.investegate.co.uk/Article.aspx?id=200902110700131142N
http://www.emeraldenergy.com/documents/EEN2008Results.pdf
http://www.investegate.co.uk/Article.aspx?id=200905060700127309R
http://www.emeraldenergy.com/documents/EENInvestorPrentation/May2009.pdf

cyril

Emerald Energy PLC
07 April 2008


Emerald Energy Plc
7 April 2008

Agerato 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
Agerato Contract, in which Emerald has a 100% working interest, covers an area
of 170 sq. km and is located in the Putumayo Basin in south-west Colombia,
approximately 75 km to the south-east of the Company's Maranta exploration &
production contract area.

The initial phase of the exploration period is 12 months and the minimum work
programme comprises the acquisition of 35 km of new 2D seismic data and the
re-processing of 40 km of existing 2D seismic data. Emerald expects the
prospective depths to be relatively shallow, at approximately 7,000 ft. The
second phase of exploration, if entered, would include the drilling of a well.

The Agerato 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 this new contract, building our position
in the prospective Putumayo Basin and increasing our activities under the ANH E&
P Contracts. During the first phase we will acquire and interpret data to
determine the potential for exploration drilling in the area.'

niceonecyril

thanks

I could not understand why my links never work here

We are now approaching the 3 peak now ...difficult hurdle to overcome...unknown mountain territory beyond !

RF, EEN hit 360p on announcement of interest in Block 26, Syria a couple of years ago. This time next month i believe things will get very exciting as we will be
close to results from the horizontal(KE5) presently being drilled, a postive flow rate
from this "production well" will imo see 350/400p quite easily?
cyril

Hope so niceonecyril...if EEN hit 350/400p, I will be over the moon ! cheers !

Through the 300p barrier....!, the climbing expedition is a triumph !

Possible breakout above the 3 barrier....the rest of the market doesn't look so good though...let's hope it stays there !

Very bullish upward spikes on this now...

Nice to see it above the 3,though not so sure its a spike, more to do with the oil
section up in general?
cyril

Brief spike up to 315p and then down,....overall, climbing steadily !

Breakout from the 3 area....

Something of interest,
http://www.iii.co.uk/investment/detail?display=discussion&code=cotn:EEN.L&it=le
Takeover fever?
cyril

Drilling in Colombia about to start ?

If you use the iii's link in post 126 you'll get the EVO update, which states
results from KE 5 expected early May and a target price of 420p.
cyril

Fantastic increase since the new year...long may it continue !

RF. yes and its no coincidense thats when i started this thread. To read the lead post says it all,and since we broke the 225p resistance its been on a steady upward trend. With KE 5 come Tuesday will be 42 days into its estimated 60 day
(conservative, KE 4 took 22 of the 30 day estimate), so any day now we should recieve news of this horizontal "production well"?
So what can we expect upon news is open to conjecture, for my part possibly
5000bopd to add to the earlier results making the 10,000bopd mentioned for
year end a very real target. As to the effect on the SP, well short term i feel 360p before settling down and once production commences (Q3) we should see a rise to approaching the 4 and maybe a whole lot more, well worth a punt both short and medium term?
aimo
cyril

Go with the flow?
http://quote.barchart.com/texpert.asp?sym=EEN.LS&code=BEQM
cyril

As i said, go with the flow, now at 340p. News of the production well KE-5 just
days away,could be this week, but my thoughts are next week?
cyril

No stopping this at the moment....or some of the other oil stocks as well...long may it continue !.

The result of the KE-5 horizontal production well is getting closer and closer, and
the SP is responding so i don't see a great reaction to the expected positive result(unless its outstanding),but this steady rise, will give a much more stable feel to the company,something imo which should be welcome.
cyril