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

.

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.