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

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.
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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.