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

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

Thanks niceonecyril...keep up the good work !

AGM on Thursday 15th May at 11am, so their could be some news releases this week? By the AGM the KH-5 horizontal production well will have taken 51 days since spudding out of the 60 days expected, against 22 days of 30 days for KE-4.

cyril

http://www.investegate.co.uk/Article.aspx?id=20080513070100H8461
Just the news we've been waiting for.
cyril

New well planned immiently and production later in the year(10,000bopd?)
As the headline for this thread, "AMAZING NEWS". What the SP will do today is
depentent on how much was built in already, but for sure its not going down.
cyril

Not too surprised the SP has not moved, it seems to be the norm that the news
was well known, and built in. It of interest now as to whether we get any news
from Colombia prior to the AGM(thursday) which could give added value to the company? EEN has now become a very desirable company to hold in todays climate as its cash position is extremely good.
Since i started this thread back in January it has been possible to have bought at
under 2 which gives a profit of some 75% (with a lot more to come)and had a no brainer written all over it.
aimho
cyril

Ouch !, bubble burst....took me by surprise !,....most oilies down !

Yes it does seem a sector thing? Perhaps a great opportunity to get in or top up?
cyril

I decided to top up and i'm confident that come year end we'll get over 4's,might go a lot higher but i'd be happy with 4, which is 15% above the present SP.
And of course we have the AGM on Thursday which could give up some info on
the Colombian front (hoping for a RNS prior to the AGM),will add some more meat to the bone.l

http://www.investegate.co.uk/Article.aspx?id=20080514070000H8853
This is EEN's partner in Syria, it is also believed that theirs a buyer of EEN and
that the company are using company law to try and track down that party?
cyril

http://www.investegate.co.uk/Article.aspx?id=200805150700034811U
cyril

50,000 at 377.38p after hours.
cyril

This company is going from strength to strength.
http://www.investegate.co.uk/Article.aspx?id=200805190700047029U
cyril

Block 26 PSC Oil Revenue Distribution

The Block 26 Contractor Group (Gulfsands 50% and Emerald 50%) is entitled to

Based on US$105/barrel realised oil price and gross daily production 25,000 bbls/day
recovery of all SPC approved exploration, development and operating costs
Exploration and operating costs are fully recoverable within a calendar year
Development capital cost recovery is capped at 25% per year (i.e. 100% of capital costs recovered after 4 years)
For example, based on a US$105/barrel realised oil price, the Contractor Group will receive in ~US$62barrel of revenue per barrel of produced oil while costs are
being recovered
After costs have been recovered, Contractor Group revenue is ~$32 barrel of produced oil

niceonecyril

The May 08 PDF updated

http://www.gulfsands.net/i/pdf/CorpPres-May08.pdf

GO BABY GO, 371p.
cyril

going nicely - with two productive drills inn progess at opposite sides of the world to reach target depth in the next 1-2 months - looks good to sustain this growth for a while longer.

http://investing.thisismoney.co.uk/cgi-bin/digitalcorporate/thisismoney/broker_rec.cgi
Worth remembering, news from Colombia expected next week and Syria some
within 3 weeks?
cyril