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

Third day in a row this share has been heading down,but i suppose it will bounce back.

Must be a knock on from Bolivia - concern over S.American resources being nationalised.

from website
http://www.emeraldenergy.com/OnP-CampRico_Vigia.htm
Centauro Sur Field

The Centauro Sur field lies to the southwest of Campo Rico field. The Centauro Sur #1 exploration well was drilled to a total depth of 11,265ft and is currently producing 250 bopd.


Edit why no RNS



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.

The Las Acacias prospect lies to the southwest of Vigia field. The Acacias #1 exploration well was spud in late April 2006 and is drilling ahead.

EEN begining to make up recent losses,a rumour that they have struck oil?
On the face of it, sounds a bit fanciful but source has a good track record.
Looking back at the RNS on 26th April, which stated Souedieh North No1
Exploration Well has commenced (when exactly?), total depth of 2260mtrs
should be drilled and "logged" "within 30 days" of when (start)?.
Now we don't know the exact date of spudding of well, substitute within 30 days for less than? take away logging time and ???
So perhaps not so faniciful after all, only time will tell.
cyril

The Acacias #1 exploration well was spud in late April 2006 and is drilling ahead.

Thanks DFGO.
Thats great news.
cyril

08/05/2006 16:35 UKREG Operations Update Colombia


RNS Number:6272C
Emerald Energy PLC
08 May 2006


Emerald Energy Plc - 8 May 2006


Operations Update - Colombia



Emerald Energy Plc ("Emerald" or the "Company") would like to provide the
following update:

Further to the information provided in 2005 Annual Report and Accounts with
regard to the drilling of the Centauro Sur prospect in the Campo Rico block, the
Centauro Sur No. 1 well has been completed for the test production and is
currently producing about 250 barrels of oil per day.


Enquiries: Helen Manning 020 7925 2440

Emerald Energy says Colombia's Centauro Sur No 1 well producing 250 bpd

LONDON (AFX) - Emerald Energy PLC said the No 1 well in the Centauro Sur
prospect in Colombia's Campo Rico block has now been completed for test
production and is currently producing about 250 barrels of oil per day.
newsdesk@afxnews.com
hjp

DFGO, i.ve got to hand it to you, spot on your previous post.
Now my previous post about the Syrian rumour,was all my own thoughts,have since looked around the various boards and other posters are thinking along the same lines.
Now do you have any ideas on the above?
cyril

niceonecyril
as you know I pick it up on the Emerald energy website @ 15.18 and posted on ADVFN and here before the RNS released hope you pick up a few before RNS came out


Rumours on advfn GPX thread oil have been found in Syria read philip444 posts
he has been right every time so far I have no reason to disbelieve him now

well spudded on or before 26/04/2006 07:01 UKREG Spuds Syrian Exploration Well
It took Emerald 14 days to drill Centauro Sur#1 to 7,416ft, so Philip444 in right time span he also said still driling so possibly it was 1 of the upper zone before getting to total depth.

DFGO,
Thanks for your reply, its how i see it. Unfortuately all funds tied up,
but i have my shares tucked away in an ISA so definately long term,looking for
10+.
Once again great spotting.
cyril

niceonecyril

31 prospects in syria EVO say tigris prospect worth 1200p with out Colombia, no
price given for 'Souedieh North prospect,Souedieh North prospect has the potential to contain in excess of 100 million barrels of recoverable oil (Gulfsands' internal estimate of potential).
With 31 prospect what price if 10 contain oil /gas a lot more than 10+, And Gigante output could increase to 1,500bopd with the new ESP pump.

I have a figure in mind but you might think i'm ramping.

I do believe it will be 6+ by end may Early June if not earlier
My opinion only but as always DYOR

Spudded 1 day before RNS

The Souedieh North #1 exploration well was spud on 25 April 2006 and is drilling ahead
http://www.emeraldenergy.com/OnP-Syria.htm

DFGO,
I think we are in for a blue day, won't be surprised to see a all time high?
With about 2 weeks left before the completion of S/N Well, PI's will start to take
up positions t25'S followed by the t10's, so could be fruitful times ahead.
cyril

niceonecyril

copied from advfn

stevea171 - 9 May'06 - 10:49 - 13727 of 13728


Drill at Souedieh North #1 continuing. TD 7200 ft. It is interesting that the Ryder Scott estimate of 100 mbo recoverable makes it only the 8th largest potential deposit that has so far been identified in Syria Block 26 and subject to exploration by Gulfsands and Emerald. It is the largest of the higher level prospects and is adjacent to all the Souedieh infrastructure incl pipeline.

The list of 31 prospects includes the following:

Souedieh Tigris .... 550 pmbo
Hamzeh (Deep) ...... 210 pmbo
Haydar Deep ........ 110 pmbo
Maghlatja Deep...... 140 pmbo
Khirbir Deep ....... 120 pmbo
Nur Deep ........... 110 pmbo
Al Barde Deep ...... 100 pmbo
Souedieh North ..... 100 pmbo

Oil quality is expected to be medium gravity which should command a good price with light oil at $60-75 bo. If SN #1 is successful the rig is contracted for a possible second drill immediately following on. Rig availability is an issue world wide and this agreement will allow the possibility of drilling the first 3 wells in Block 26 in May, June, and Aug-Sept/Oct.

Within the next few years Gulfsands and Emerald could be involved in drilling dozens of wells into these structures if there is early success, and after a short time production would potentially pay for most of the development costs.
With major oil structures all around this is far from wildcatting. Industry stats of success of an av. 1 in 7 could be knocked into a cocked hat, like Emerald is experiencing with its current drilling in Colombia.

These companies have realistic chances of being BUR's, or CNE's within a short timescale as their 31 prospects have the following advantages;

Landbased
7,000 or 14,000 ft depth
Known geology (at shallow depth)
Close to existing infrastructure that has spare capacity
Close to European markets
Government support as Syrian total production is falling significantly

To give some idea of the scale and prospectivity of this area it is worth reviewing some of the details of Souedieh Tigris which is scheduled for spudding in late August:

The structure size is huge, potentially 75 sq km.
9 potentially productive zones
Evo place a share value to Emerald of 12 for Tigris alone, if successful

*******************************************************************************

Extract from Gulfsands RNS of 30/1/06:

The Tigris structure is of a significant size, potentially as large as some 75 square kilometres, and only one well bore currently exists on the structure.

It is difficult to assess the full reserve potential within Proved, Probable and Possible Reserves at this time. However, based on the data that are currently available, the Ryder Scott report concludes that there are nine potentially productive zones contained within Palaeozoic age reservoirs found in the existing well bore on the Tigris structure.

The report classifies 883 BCFG as Probable and Possible Reserves if the Tigris structure is primarily a natural gas accumulation. The report classifies 104 MMBO and 64 BCFG as Possible Reserves in these zones if the Tigris structure is primarily an oil accumulation.

The report further classifies an additional 3447 BCFG as an unrisked Prospective Resource within the gas case or 408 MMBO and 245 BCFG as an unrisked Prospective Resource in the oil case. The Prospective Resource was based on potential resources below the base of the hydrocarbon bearing zones encountered in the existing well bore, as a definitive water contact is not identified with the existing data.

In summary, the natural gas case equates to total reserves potential among Probable, Possible and Prospective Resource as 4330 BCFG (722 MMBOE), while the oil case equates to 512 MMBO and 308 BCFG (combined 563 MMBOE). Gulfsands' 50% working interest in Block 26 and the Tigris reserves are subject to the fiscal terms of this Production Sharing Contract.

Following this initial review, Ryder Scott will undertake a further review of the field development plan and costs, to quantify the economic value of the Probable and Possible Reserves and Prospective Resource.

John Dorrier, CEO of Gulfsands Petroleum, said:

"This independent study confirms our conclusion that Block 26 contains probable pay in Palaeozoic reservoirs and significantly increases the Company's overall reserves. The report further demonstrates the lower risk associated with finding large oil and gas reserves in Block 26 and increases the total Block potential significantly."

DFGO;
Had a quick look, it just gets betterer and betterer. One point if Tigris is worth 12 alone and represents 38% of total estimated reserves then a SP of 30's
would be in order.
cyril
ps; and of course Columbia

niceonecyril

Hope your still in.
8 days to AGM 26 May.

News on Syria should be good,if duster would have heard by now imo.
Colombia news due as well.

but as always dyor.

DFGO,
Had trouble with the PC, still holding. Keeping in my ISA, long term.
30 days from 25th(date of spudding) should get some news prior to the
AGM.
cyril

niceonecyril

most of mine in nominee a/c ,still in profit lost a load on paper over the last week
but holding tightly.

The fundamentals are good,oil still around $69 to $70 a barrel,Emeralds still pumping oil and making money.

nice bounce today up 18.7% from yesterday

only 3 days to AGM and hopefully news before then on Colombia and Syria