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

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