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

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

28/3/06
Saxon Rig 223 is now moving to the Campo Rico block to drill the Las Acacias prospect located south west of the Vigia field.

EEN have an RNS out today, news of drilling rig contracts. The 1st to start
drilling early May, and the 2nd to drill the deeper well in August.
cyril

EEN+
Gulfsands Petroleum PLC
04 April 2006

4 April 2006

Gulfsands Petroleum PLC
('Gulfsands' or 'the Group')

Gulfsands Signs Rig Contracts for Block 26, Syria

First Exploration Well Expected to Spud by May 2006

Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
announced today that the Company has executed definitive agreements for the
drilling of three exploration wells with the option to drill a further two wells
within Block 26, Syria.

Gulfsands, the operator and 50% working interest owner in Block 26, has taken
assignment under an existing contract from another operator in Syria, for a
drilling rig owned and operated by Crosco, a drilling company based in Croatia.
Gulfsands will use this rig to drill and evaluate the Souedieh North well
commencing in late April or early May 2006 with the option to drill another well
within the block under this same agreement. Furthermore, the Company signed a
definitive agreement with MB Drilling Overseas Limited for the drilling of two
firm wells with a one well option. This rig will be used to drill to the deeper
Palaeozoic prospects identified in Block 26, such as the Tigris structure which
is scheduled for drilling in August 2006.

The Souedieh North well will be 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). Gulfsands has commenced site
preparations for the well, and expects a spud date on or about 1 May 2006. The
net cost to Gulfsands for drilling and evaluating this well is approximately
$800,000.

The Tigris well will also be located in the northeast region of the Block and is
expected to spud in August 2006. The net cost to Gulfsands for drilling and
evaluating this well is approximately $3.25 million. This vertical well will be
drilled to a total depth of nearly 15,000 feet with the primary objectives being
a series of Palaeozoic (Carboniferous and Devonian) sandstone reservoirs. The
Tigris structure is directly underlying the Souedieh oil field (the largest
known oil field in Syria), where oil is produced from the shallower Cretaceous
reservoirs. Wireline log evaluation of an existing well on the structure
drilled some years ago has identified pay zones within the objective reservoirs,
and the Tigris-1 well is designed to evaluate these reservoirs and appraise this
probable hydrocarbon accumulation. Gulfsands announced on 30 January 2006 the
results of a reserves study by Ryder Scott Company, L.P. (Ryder Scott), an
independent petroleum engineering firm, on the Tigris structure. Ryder Scott
developed two cases for this evaluation, an oil case and a gas case, as there
was not sufficient data available at the time to determine the expected
hydrocarbon fluid contained within the Tigris structure. This reserves study
as of 1 January 2006 classified recoverable Probable and Possible Reserves and
Prospective Resource as follows:

For primarily a natural gas accumulation, Ryder Scott has classified 442
BCFG as Probable Reserves, 442 BCFG as Possible Reserves, and a further 3447
BCFG as a Prospective Resource. In summary total reserves potential among
Probable, Possible and Prospective Resource is 4330 BCFG (722 MMBOE).

For primarily an oil accumulation, Ryder Scott has classified 104 million
barrels of oil and 64 BCFG as Possible Reserves and a further 408 MMBO and
245 BCFG as a Prospective Resource. In summary total reserves potential
among Possible and Prospective Resource is 512 MMBO and 308 BCFG (combined
563 MMBOE).

Gulfsands' CEO, John Dorrier, said:
'Gulfsands is constantly seeking ways of accelerating its schedules and
controlling the costs of exploration drilling. These drilling arrangements
represent an important achievement in the current market. The relatively
low-cost and high potential of these two drilling projects remains a very
attractive exploitation of the Company's significant inventory of drilling
opportunities.'

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1144202415&feed=oilbarrel_en


05.04.2006
Gulfsands Petroleum And Emerald Energy Within Weeks Of First Well In Syria
Less than one year after taking over operatorship of Block 26 in Syria and London-listed Gulfsands Petroleum is gearing up to spud its first exploration well on the block. Rig contracts are in place to drill three wells with the option for a further two with the first hole set to sink within weeks - not bad given available rig slots are like gold dust in the current booming natural resources market.

Gulfsands has identified some 31 leads and prospects on the 11,000 sq km block, which surrounds existing oilfields that are currently pumping some 85,000 barrels per day of 20-26-degree API oil crude. Importantly, the block partners (fellow London-listed oil firm Emerald Energy has a 50 per cent stake) have access rights to that nearby network of production infrastructure. The sulphurous crude is produced from Cretaceous limestone reservoirs but its thought the deeper Palaeozoic horizons also hold potential.

As yet the potential of Block 26 has yet to be proved through the drillbit. A number of wells have been sunk in the past but without commercial success. However, Houston-headquartered operator Gulfsands has plans to change this. It has subcontracted a Croatian rig from another operator in Syria and will use this to drill the Souedieh North prospect, with an option to follow-on with a second well. Site work is already underway and the well should spud in late April or early May.

Gulfsands has also signed an agreement with MB Drilling Overseas to drill two firm wells and one well option. This drilling unit will be used to probe deeper Palaeozoic prospects, such as the Tigris structure which is scheduled for drilling in August.

This promises to be an exciting run of months for followers of the companies and will mark Emerald Energys first project outside its core area of Colombia. Souedieh North lies in the northeast of the block and will be drilled to a depth of 7,216 ft to test Cretaceous-aged reservoirs similar to the producing Souedieh and Karachok oilfields. Gulfsands reckons the US$1.6 million well could tap into a structure with the potential to hold more than 100 million barrels of recoverable oil.

The Tigris prospect also lies in the northeast of the block and will be drilled to nearly 15,000 ft at an estimated cost of US$6.5 million. It will test a series of Palaeozoic sandstone reservoirs that lie directly underneath the Souedieh oilfield (the largest known oilfield in Syria), which produces from the shallower Cretaceous reservoirs.

This wont be the first well on the structure: an existing well identified pay zones within the objective reservoirs. According to independent petroleum engineering firm Ryder Scott, the Tigris structure, if gas prone, could hold a 442 bcf of probable reserves with a total prospective resource of 4.3 tcf. If the reservoirs are found to be oil charged, the total prospective resource base in 512 million barrels of oil and 308 bcf of gas. These numbers will remain theoretical, however, until proved by the drillbit - and happily for impatient investors the countdown to the first well is now well underway.
< back

copied from advfn
The announcement this week on Block 26 has been timed to coincide with the 5th Syrian International Oil and Gas Exhibition held in Damascus this week from 3rd April until 6th April. This exhibition is held every 2 years and is a major focus for the Mid-east O&G industry.

I would expect that the Gulfsands announcement would have been a major boost for the Government, Oil Ministry, and exhibitors as it comes in the face of US attempts to isolate the country and place a political and commercial squeeze on them. Much is made of the fact that Gulfsands and Emerald are US and UK companies operating in the country in spite of US sanctions. (Gulfsands is represented as being US on the basis that its headquarters are in Houston.)

http://www.syroil.com/

News:
◙ Oil Reserve in Syria is Rich, Gulfsands Petroleum Says
◙ Petro-Canada closes sale of its Syrian-producing assets
◙ Tanganyika Oil Company Provides Update On Egypt And Syria Operations
◙ Syria Receives Bids for Oil Exploration In Nine Announced Sectors
◙ Syria strikes deals with 14 Kuwaiti, foreign firms to develop oil fields
◙ Petroleum investments in Syria promising, CEO of APICORP says
◙ Russian oil company to establish a refinery in Syria
◙ Syria-Croatia sign gas agreement
◙ Syrian signs oil and gas exploration contract with Canada and Kuwait
◙ Oil exploration agreement in Palmyra
◙ Syria , Egypt to carry out 3rd step of Arab natural gas pipeline
◙ Syrian oil company comes first among Shell partners
◙ The ratification of TAT NAFT contract
◙ Dr. Ibrahim Haddad said " Syria has given the sector of gas a special interest
◙ Syria, Egypt hold talks on gas cooperation project
◙ The ratification of Dublin contract
◙ The ratification of HBS contract
◙ New contract approval

Oil Reserve in Syria is Rich, Gulfsands Petroleum Says

Deputy Executive Director of the American-British Gulfsands Petroleum Company Mehdi Sajjad said that the company is insisting to continue drilling in Syria, denying that it is exposed to any pressures regarding work in Syria .

In a phone call with al-Thawra daily published Wednesday, Sajjad added Syria has transparently announced that her reserve of petrol has decreased, but the report of the company assures that the discovered reserve is rich, particularly in the deep areas.

He pointed out that the company announced that oil "reserve in Dijla field at the 26 sector increased from 500 million to 700 million barrel of oil as well its gas equivalent".

Sajjad underlined that the study prepared by Ryder Scott Petroleum Company pointed out that the "possible reserve of Dijla field is 722 million barrel if it was basically natural gas accumulation and 563 million barrel if it was mainly oil reserve".

He continued that the Ryder Scott Company adopted the data of the seismological survey I its evaluations. The company discovered a hydro-carbon compounds in three of the six wells that were digged earlier.

He asserted that the company is using a very advanced technology in exploration actions in the deep areas, stressing that it will start digging next April.

He indicated that "Syria has attracted many world companies in spite of the difficult situation the region is passing through", pointing out that the company is looking for expanding its exploration in the Syrian fields and developing cooperation with the Syrian government.

Found this on website yesterday it was there 8.21 this morning
it as been removed now


This map shows the location of the 3 Vigia wells also the Centauro Sur and Las Acacias.

http://www.emeraldenergy.com/OnP-CampRico_Vigia.htm


Vigia Field

In February 2005 the Parker 222 drilling rig spudded exploration well Vigia #1 within the Campo Rico block about 11 km from the Campo Rico Field (see Location Map below). Total depth of 11,120 ft was reached in March and two zones successfully tested and produced 16 degrees API oil.

Rig 222 then moved and drilled 2 further wells on the Vigia structure. Vigia #2 was drilled to 11,680 ft and Vigia #3 to 11,070 ft.

Vigia #1, #2 and #3 have been completed with downhole jet pumps. In July 2005 Vigia #1 was put on production followed by Vigia #3 in November 2005 and Vigia#2 in February 2006.

Cumulative oil production from Vigia field at the end of 2005 was 0.11 million barrels of 16 degree API oil.

In December 2005 Ecopetrol has advised the Company that it has granted commercial status to the Campo Rico fields and exercised its right to back-in for 50% of the discovery. Under the terms of the Campo Rico Association Contract, Ecopetrol will now receive 50% of production after the deduction of 8% royalty oil and will reimburse Emerald for 50% of the cost.


Vigia, field and wells.

Map of Vigia showing the 3 Vigia wells also site of proposed Vigia4 also The Las Acacias prospect and The Centauro Sur prospect.

Exploration

In the second half of 2005, Emerald completed the processing and interpretation of the 3D survey that covers some 172 sq km of the Campo Rico block. In addition to appraising the development potential of the existing fields, the survey was designed to identify new prospects in the block. As a result of this programme, Emerald has identified two prospects for immediate drilling: Centauro Sur and Las Acacias.

The Centauro Sur prospect lies to the southwest of Campo Rico field. The Centauro Sur #1 exploration well was spud on 14 March 2006 and is drilling ahead.

The Las Acacias prospect lies to the southwest of Vigia field. The Acacias #1 exploration well will spud in late April 2006.