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

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

Emerald Energy Plc


FOR IMMEDIATE RELEASE 24 May 2006


Operations Update - Syria


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


The Souedieh North well in Block 26, Syria has been drilled to a depth of 7,298
feet. While drilling, the well encountered a series of live oil and gas shows.
Wireline logs of the Tertiary reservoir section of the well indicate hydrocarbon
bearing zones.

The operator is currently preparing to obtain wireline log data over the
Cretaceous reservoir section in the well after setting an intermediate string of
casing over the Tertiary section to maintain wellbore stability.


Further results from the well should be forthcoming within the next few weeks.


Alastair Beardsall, Emerald's Chairman, said:

'Initial results of the Souedieh North No.1 well are very encouraging; further
logging and testing of the well is required to fully evaluate it.'


Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas
Ltd.


Enquiries: Helen Manning 020 7925 2440






This information is provided by RNS
The company news service from the London Stock Exchange

Emerald Energy Plc


FOR IMMEDIATE RELEASE 24 May 2006


Operations Update - Colombia


Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:


Exploration


The Las Acacias No.1 exploration well has been drilled to a total depth of
10,930 ft. The Las Acacias prospect is located to the south of the Vigia field.
Wireline logs identified a potential hydrocarbon zone, casing has been run and
cemented and the well is being prepared for production testing. Saxon Rig 223
will then be moved to drill Las Acacias No.2 and drilling should commence early
June 2006.


Centauro Sur No.1 exploration well continues to produce at approximately 250
bopd and a second well on the Centauro Sur field is being planned for later in
2006.


Production


Daily gross production for 1st quarter 2006 averaged 4,400 bopd. During April
and May production continued to be impaired by the failures of rented surface
hydraulic pumps at the Campo Rico and Vigia fields and, in addition, the failure
of downhole pumps in Vigia No.1 and Campo Rico No.1 wells. These wells during
1st quarter 2006 produced at an average rate of 954 bopd and 760 bopd
respectively and when removed from production had a significant impact. Average
production for May to date is 3,400 bopd.


The downhole pump in Campo Rico No.1 has been replaced and the well returned to
production. Vigia No.1 is being worked over and an electric submersible pump
installed to replace the downhole jet pump; it is expected that the well will be
returned to production by end of May. New surface hydraulic pumps have been
purchased for the Campo Rico and Vigia fields as planned and will be installed
during June 2006.


The Company is preparing to replace hydraulic jet pumps at Campo Rico No.1, 2
and 3 wells with electric submersible pumps to improve the reliability of
production levels.



Alastair Beardsall, Emerald's Chairman, said:

'We have started a programme to replace our production equipment, both at
surface and downhole, to reverse the recent decline in production and to improve
the reliability of our operations. This programme will take several weeks to
complete and will result in a better operation of Emeralds assets.'


Enquiries: Helen Manning 020 7925 2440


This information is provided by RNS
The company news service from the London Stock Exchange

Emerald Energy Plc


FOR IMMEDIATE RELEASE 24 May 2006


Operations Update - Colombia


Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:


Exploration


The Las Acacias No.1 exploration well has been drilled to a total depth of
10,930 ft. The Las Acacias prospect is located to the south of the Vigia field.
Wireline logs identified a potential hydrocarbon zone, casing has been run and
cemented and the well is being prepared for production testing. Saxon Rig 223
will then be moved to drill Las Acacias No.2 and drilling should commence early
June 2006.


Centauro Sur No.1 exploration well continues to produce at approximately 250
bopd and a second well on the Centauro Sur field is being planned for later in
2006.

Saxon Rig 223 will then be moved to drill Las Acacias No.2 and drilling should commence early June 2006.

Emeralds partener

Gulfsands Petroleum PLC
24 May 2006

24 May 2006


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


Preliminary Results from Souedieh North Well in Syria


Gulfsands Petroleum PLC (symbol GPX), the AIM listed oil and gas exploration,
development and production company with activities in the USA, Syria and Iraq,
is pleased to announce that the Company has drilled the Souedieh North well in
Block 26, Syria to a total depth of 7,298 feet. While drilling, the well
encountered a series of live oil and gas shows in both the primary and the
secondary reservoir objectives and wireline electric logs analysis indicates oil
bearing pay within this well. Gulfsands is the operator and 50% working
interest owner in Block 26.


Live oil and gas shows were encountered while drilling through the secondary
objective Tertiary-age reservoirs. Electric wireline logs have been run in the
Tertiary reservoir section of the well and independent log analysis indicates
some 61 feet of potential net oil pay over a gross interval of 142 feet.
Acquisition of additional information is required to determine the potential
significance of this zone.


Live oil and gas shows were also encountered while drilling through the primary
objective Cretaceous-age reservoirs. The Company is currently preparing to
obtain wireline log data over the Cretaceous reservoir section in the well after
setting an intermediate string of casing over the Tertiary section to maintain
wellbore stability.


Further results from the well should be forthcoming within the next few weeks.


Gulfsands' CEO, John Dorrier, said:


'Initial results of the Souedieh North-1 well are very encouraging. We expect
further electric logging and testing of the well during the next several weeks
to confirm the well is a commercial oil discovery.'

OIL strike at SN in Syria,great news,right on dfgo.

Emerald's Colombian ops daily gross output down due to pump failures in Apr, May
AFX


LONDON (AFX) - Emerald Energy PLC said daily gross production at its Colombian operations in the first quarter this year averaged 4,400 bopd while April and May production continued to be hit by pump failures.

In a statement, the company said average production for May to date fell to 3,400 bopd, hit by the pump failures at the Campo Rico and Vigia fields.

These wells produced an average 954 bopd and 760 respectively in the first quarter.

Chairman Alastair Beardsall said: 'We have started a programme to replace our production equipment, both at surface and downhole, to reverse the recent decline in production and to improve the reliability of our operations.

'This programme will take several weeks to complete and will result in a better operation of Emeralds assets.'

The company said wireline logs at the Las Acacias No 1 exploration well identified a potential hydrocarbon zone, and the well is being prepared for production testing.

A rig will then be moved to drill Las Acacias No.2 and drilling should commence early June 2006.

It said Centauro Sur No.1 exploration well continues to produce at about 250 bopd and a second well on the Centauro Sur field is being planned for later in 2006.

All in all a fabulous daty for EEN.
Syrian news is really exciting,as good as one could expect.
Columbian problems, annoying but thats all.Near future with upgraded equipment,
flow rates doubling is possible.
Off out to toast my only success.
Bring on IEC, production output expected.
cyril

rumour EEN merging with Gulfsands/taking over Gulfsands

From Oilbarrel
http://tinyurl.com/lxs5x



25.05.2006
Gulfsands And Emerald Boosted By Early Exploration Results From Syria
Shares in Gulfsands Petroleum added 9 pence, or 6 per cent, to 159 pence on Wednesday when preliminary well results appeared to indicate a promising oil strike in Syria amid rumours of a possible bid for the AIM-quoted firm. Its 50/50 partner in Syria, Emerald Energy, also gained, surging 24.25 pence to 289 pence as it released positive news from the Middle East and Colombia.

The Syrian project has long excited Gulfsands followers. The company holds producing assets in the US and can boast an MoU for a large gas monetization project in southern Iraq but it is the companys operatorship of Block 26 in Syria that has promised the near-term exploration excitement.

That promise started to look a little firmer yesterday when the company announced it had drilled the Souedieh North-1 well to a total depth of
7,298 ft, encountering a series of live oil and gas shows in the primary and secondary reservoir objectives on the way down.

The company has identified a shallow secondary Tertiary-age reservoir, with 61 feet of net oil pay over a gross interval of 142 feet. According to the companys brokers Teather & Greenwood, this reservoir is close to water-containing rocks and as such there is a chance there could be some degradation of the oil, which could have a low API and poor recoverability.

However, the Tertiary is a bonus because the real objective of drilling Souedieh North was always the deeper Cretaceous-age reservoirs. And this is where the news gets really good. Live oil and gas shows were encountered while drilling through this interval and two potential oil and gas zones have been identified. Teather & Greenwood report that this interval appears to be larger than expected: the well carried a pre-drill expectation of 100 million barrels of recoverable oil in the Cretaceous, which may now prove conservative, while there are additional reserves in the Tertiary.

Gulfsands chief executive John Dorrier said the results were very encouraging. We expect further electric logging and testing of the well during the next several weeks to confirm the well is a commercial oil discovery."

Those results will be eagerly anticipated by investors and, if positive, will go some way to de-risking some of the 31 other prospects identified on the 11,000 sq km block. The next well to spud on the acreage is the Tigris prospect, which underlies the Souedieh field.

Tigris was previously drilled by state oil firm SPC but the well ran into difficulties (it took 15 months to drill) and despite finding potential hydrocarbon-bearing zones was never tested. This is a large structure and could hold more than 500 million barrels of oil equivalent. The proof will, of course, lie with the drillbit and there isnt long to wait: the well is scheduled to spud in August.

Emerald Energy, in a departure from its strategy of focusing on Colombia, joined Gulfsands in Syria last year. Given yesterdays news, that move looks increasingly astute. The company is also making progress in the South American country: yesterday it announced Las Acacias-1 well had reached total depth of 10,930 ft, encountering a potential hydrocarbon zone on the way down. The well is now being prepared for production testing, after which the rig will sink the Las Acacias-2 appraisal. In the meantime the Centauro Sur-1 exploration well is producing around 250 barrels of oil per day and a second well is being planned for the structure later this year.

Less positive for Emerald investors, however, are the recent production numbers (although confirmation of a major oil strike in Syria will offset these niggles in Colombia). Output for the first quarter averaged 4,400 bpd but has since declined to around 3,400 bpd due to equipment failures on the Campo Rico and Vigia fields. A downhole pump on the Campo Rico-1 well has been replaced and the well returned to production. Vigia-1 is being worked over and should return to production by the end of the month. New surface hydraulic pumps have been purchased for the fields and will be installed during June. The company also intends to install electric submersible pumps downhole to improve the reliability of production levels. Even so, depending on the next set of well results, this could become something of sideshow to the main attraction in the Middle East.
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