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

DFGO managed to get the update to work.
cyril

DFGO managed to get the update to work.
cyril

niceonecyril

thanks you

hyloe,maggiebt4
you should do your research

I have held Emerald since 1999
bought @ 20p [0.2 before 100 to 1 consolidation] and have added

Emeralds 1H 2008 Results : Comparatives
on production from Colombia only
Colombia average gross production of 2,901 bopd
Emerald net entitlement of 1,621 bopd 2008 .
........................1H 2008.. 1H 2007 .....1H 2008 ...FY 2007
.........................$ '000 .....$ '000 ..vs ..1H 2007... $ '000
Revenue ............29,592... 20,687.......... 43% .....44,357
Operating Profit ..19,385..... 7,709 ..........151% .....8,337
Adjusted EBITDA..20,066 ..14,424........... 39% ....30,092
Profit before tax..18,962... 8,289 ............129%.... 8,589
Period profit ......12,444.................................... 4,105

$48mil cash in bank

Since end of June Emerald have added 1,850bopd in Colombia with Vigia#5 and
Vigia#6, Emerald get 100% of production Vigia -8% royalty
Vigiast4 production well currently being drilled

Since September Emerald are getting 5,750bopd from Syria @ $64.50 during cost
recovery and $33 per barrel after cost recovery net to emerald all tax paid

During cost recovery
5,750bopd brent @ $105 Emerald get $63.50 = $365.125per day = $10,953,750 per
30 days net to Emerald.

After cost recovery
5,750bopd brent @ $105 Emerald get $32 = $184.000per day = $5,520,000 per
30 days net to Emerald.

From January Emerald Syria share 9,000bopd

DFGO think I mislead you with last post I'm long on these have held for some time.
Read another post from Hyleo that was predicting another O&G stock was tanking that he was shorting so thought I'd point that out. Not successfully it seems.
Think these have great potential.

360p...was 380p yesterday.

Which O&G was I wrong, Maggie? I don't think so myself

hlyeo

can you exspand on why Emerald are to expensive

Emerald are LSE listed not AIM

Didn't say you were wrong merely said you were shorting other O&G, DGO if memory is right and if it is, in DGO's case you are right so far.

maggiebt4

Your right EEN have a long way to go yet

possibly 40.000bopd from syria next year 20,000bopd EEN share

Good chance Gigante #2 drill early next year

as always dyor

October 07, 2008
Drilling Commences on Yousefieh-1 Exploration Well

--------------------------------------------------------------------------------

London, 7th October 2008: Gulfsands Petroleum plc ("Gulfsands", the "Group" or the "Company" - AIM: GPX), the oil and gas production, exploration and development company with activities in Syria, Iraq, and the U.S.A., is pleased to announce that drilling operations have commenced on the Yousefieh-1 exploration well in Block 26.

The Yousefieh-1 well is planned to be drilled to a total vertical depth of approximately 2300 meters, and will target Cretaceous aged reservoirs identified within a structure located immediately adjacent to the Khurbet East Oil Field. The well is designed to evaluate the potential of a newly identified play type within the Cretaceous reservoir system.

The Yousefieh-1 well is located very close to existing infrastructure, with the surface location of the well lying within 3 kilometers of the Khurbet East Early Production Facility (EPF).

The Company expects that drilling operations will be completed within 45 days.





http://www.gulfsands.net/s/NewsReleases.asp?ReportID=321790

This is a great little oil company...but the market is running against oil companies at the moment.....many small companies have discovered oil or gas (ex> : RIFT, AEX, HAWK, PTR, MRS, etc...to name but a few); but all of them have had their sp knocked down !.... . The question is : Whether to stay put (if you are still in or to bail out or even to buy ?), myself, I'm praying for an oil price recovery !.I still think EEN's sp will start to go up again sooner or later !.

Drilling Commences on Yousefieh-1 Exploration Well (Emerald Energy)




RNS Number : 1234F
Emerald Energy PLC
06 October 2008

Emerald Energy Plc

6 October 2008

Yousefieh No.1 Exploration Well, Block 26, Syria

Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update
on activities in Block 26, Syria.

Drilling operations have commenced on the Yousefieh No.1 exploration well in Block 26.

The Yousefieh No.1 well is designed to evaluate the potential of a new exploration play
identified from the 3D seismic survey acquired
last year over the Khurbet East field and nearby areas. The well is planned to target
Cretaceous aged formations within a structure located
to the east of the Khurbet East field and the surface location of the well will be
approximately 3 kilometres from the processing facilities
in the field.

The Yousefieh No.1 well is expected to have a total drilling depth of approximately 2,300
metres and take approximately 45 days to drill
and evaluate.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

"We are pleased with the continued progress in evaluating the exploration potential of
this large block and look forward to the results
of this exploration well."

Rebounding nicely....long may it continue.....if oil were to recover, this would rocket !, one of my favourite shares, I have to say !.

Good news, this means inflation will soon come down ...


Oil prices drop below 74$

LONDON (AFP) Oil prices fell below 74 dollars a barrel on Wednesday as fears of recession raised concerns about an extended drop in energy demand, traders said.

Brent North Sea crude for November delivery dropped 79 cents to 73.74 dollars a barrel, adding to a slide of 2.93 dollars recorded on Tuesday in London.

New York's main contract, light sweet crude for November, shed 80 cents to 77.83 dollars after slumping by 2.56 dollars on Tuesday.

At Wednesday's price level Brent crude was half its record high of 147.50 dollars reached in July, owing to lingering worries about falls in energy demand.

A top US central banker, Janet Yellen, said Tuesday that the United States "appears to be in a recession." There are also growing fears Japan and Europe are heading for a spell of economic stagnation or recession.

The German economy is heading for a slowdown, but the downturn will not be a long-lasting one, Chancellor Angela Merkel said Wednesday.

Markets were meanwhile awaiting the latest weekly snapshot of US energy inventories due Thursday, which is set to reveal the nature of current demand for oil in the world's biggest consumer of crude.

The Department of Energy's latest data on inventories has been delayed a day owing to a public holiday in the United States earlier this week.

http://www.investegate.co.uk/Article.aspx?id=200810200700081598G

Looking strong for the future upturn?
cyril

Good update, but many a time this stock will shoot up only to come down again ! it will come right sooner or later......I can see this stock being north of 5 at some stage !, it might take 2 years but I'm in no hurry ; I'm in for the long haul !.

Yousefieh No.1 Exploration Well Update, Block 26, Syria

Emerald Energy Plc ('Emerald' or the 'Company') provides the following update on progress in the Yousefieh No.1 exploration well in Block 26, Syria, following notification from the Operator.

The commencement of drilling operations on the Yousefieh No.1 exploration well, with an expected total drilling depth of 2,300 metres, was announced on 6th October 2008.

Oil shows were observed while drilling a target Cretaceous formation at approximately 1,940 metres. Coring operations were conducted and the recovered cores indicated the presence of oil in the formation.

The remaining programme, which will include drilling to the expected total drilling depth of 2,300 metres, wireline logging and possibly production testing, is expected to take up to two weeks to complete.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

'While encouraging, the results to date are not sufficient to determine at this point either the size or commercial potential of an oil accumulation. We look forward to the results of the complete data acquisition programme in this well.'


Positive without being conclusive i would say,but at least theirs oil to test so feeling quietly confident. So looking forward to the well completing to total depth,
its main target and then testing?
cyril

Good news....even if this well is not commercial.....their knowledge of the nearby geology will have been greatly enhanced probably enough to allow a second well to be perforated close by if necessary......so in the short term at least, the sp will rise !.

I've altered the above RNS to the corrected date of 6th October (not Sept)
cyril

niceonecyril
The Gulfsands RNS gives a lot more information about Khurbet East Field than the
Emerald Energy RNS

A re-evaluation of the Khurbet East Field reserves will
be undertaken by RPS Group Plc as of year-end 2008, with results
expected in Q1 2009.

Immediate Release 5 November 2008


GULFSANDS PETROLEUM PLC
YOUSEFIEH-1, BLOCK 26, SYRIA.
OPERATIONS UPDATE
Gulfsands Petroleum plc ("Gulfsands", the "Group" or the "Company" -
AIM: GPX), the oil and gas production, exploration and development
company with activities in Syria, Iraq, and the U.S.A., is pleased to
provide the following update on the drilling of the Yousefieh-1 well
in Block 26, Syria, where Gulfsands is operator and an update on
production from the Khurbet East Field (the "Khurbet East Field" or
the "Field") and our Gulf of Mexico operations:

YOUSEFIEH 1 WELL, BLOCK 26, SYRIA:

The Yousefieh-1 well has encountered the target Cretaceous formation
at approximately 1940 metres vertical depth. The formation was
encountered at a slightly shallower depth than was projected prior to
the commencement of drilling.

Core sampling operations over this reservoir section were
successfully completed and together with oil recovered during
drilling operations, have indicated the presence of oil.

The recovered cores will be further evaluated and analysed by the
Company's consultants in Egypt.
Following completion of these activities the Company will resume
drilling to the original target depth of approximately 2300 meters.
The Company intends to run a complete logging programme on the well
once drilled to target depth and expects drilling and testing
operations will be completed within two weeks.
The Yousefieh-1 well is targeting Cretaceous aged reservoirs
identified within a structure located immediately adjacent to the
Khurbet East Field and was designed to evaluate the potential of a
newly identified play type within the Cretaceous reservoir system.
The well is located very close to existing infrastructure, with the
surface location of the well lying within 3 kilometers of the Khurbet
East Early Production Facility (EPF).

KHURBET EAST FIELD, BLOCK 26, SYRIA:
During October, the results of the pressure monitoring survey
conducted in September on the Khurbet East field have been further
evaluated. When taken in conjunction with the production performance
of the Field, these suggest that the Massive reservoir parameters may
be better than was estimated at the time of development approval last
February. This, combined with the negligible amount of produced
water in the Field thus far, indicates that the Field reserves may be
understated.
A re-evaluation of the Khurbet East Field reserves will
be undertaken by RPS Group Plc as of year-end 2008, with results
expected in Q1 2009.
During the month of October, additional pressure monitoring work was
carried out to further assess the performance of the Field's
reservoir which involved the shutting in of each of the producing
wells. During uninterrupted production, the Field continued to
average in excess of 11,000 bopd from 5 wells (2 horizontal and 3
vertical producers) with only trace amounts of water.
To 31st October 2008 over 840,000 barrels of oil have been produced
from the Field. Gulfsands invoices for oil produced and delivered to
the oil processing facilities of the Syrian Petroleum Company on a
monthly basis and Gulfsands has received payment for all invoiced oil
on a timely basis following marketing of the oil by the Government of
Syria in accordance with the provisions of the contract for the
Exploration and Development and Production of Petroleum (the
"Contract") under which Gulfsands is operating in Syria. Oil sales
have been achieved at prices in line with historic pricing of Syrian
Souedieh blend which historically has averaged a discount of
approximately 11 per cent to the price of Brent crude