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 - 21 Jun'06 - 14:47 - 17082 of 17208 edit

chestnuts
Emerald produced 460,000BBL in 1st half 2005
1st Jan 2005 to 30 June 2005 = 181 producing days.
460,000 divide by 181 days = 2541bopd.

2541bopd averge 1st half 2005, minus CR#1 production 1750bopd [13/4/06 the last production figure shown for CR#1 prior to 03/6/05] = 791barrels minus Gigante#1 production 725bopd [13/4/06 the last production figure shown for
Gigante#1 prior to 03/6/05] = a combined 66bopd from CR#2#3 and V#1

1st Qtr 2006 Emerald average 4400bopd x 90days = 396,000bbl produced 1st Qtr Ref 24/5/06 RNS

In the following i have not allowed for any production from V#1 or CR#1
April 2006 4400bopd minus V#1 954bopd [due to pump problem] = average 3446bopd and minus CR#1 760bopd [due to pump problem]= average 2686bopd x 30 days = 80,580bbl produced for April

Emerald RNS 24/5/06 said Average for May to date 3400bopd.

Taking Emeralds 3400bopd x 61days [May and June]= 207,400bbl produced.


1st Qtr 396,000bbl + April 80,580bbl + May and June 207400 = 683,980bbl for Qtr against, 460,000 1st half 2005

and Silfide CS#1 LA#1 are not included.
And V#1 not included since end of March.

but as always dyor

edit CR#1 included in May and June

But as always dyor

DFGO,
Souedieh's failure to produce while having live oil shows is a bit of a worry for me.I seem to remember reading somewhere(can't find article)that the Syrians
drilled Tigris and found real problems, in fact if my memory serves me right it
took 6/9 months before abandoning their efforts.Just wondering if their's any
similarity with Souedieh's difficulties?
With Drilling Rig's being so scarce i believe holding onto a rig to sort out any
problems might be an issue? Wondering if you can put any light on my concerns?
I'm happy with EEN on Colombian output alone, but feel as much weight is placed
upon Tigris that any such problems would have quite a short term effect on the
SP.
cyril

Tigris is a dangerous venture!

niceonecyril
Imo

Emeralds share price includes nothing for syria at this price.

Another successful well in Colombia



Emerald Energy PLC
14 July 2006


Emerald Energy Plc - 14 July 2006

Drilling Report

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

The Company has completed drilling of the Centauro Sur No. 2 appraisal well in
its Campo Rico block in Colombia. The well has been drilled to a total depth of
10,865 feet, completed for testing with an electrical submersible pump and in
the first 24 hours of steady test production produced in excess of 700 barrels
of oil.

Alastair Beardsall, Emerald's Chairman, said: 'We are pleased to have confirmed
the production potential of the Centauro Sur field, discovered earlier in the
year.'

Emerald Energy confirms production potential of Centauro well in Colombia
AFX


LONDON (AFX) - Emerald Energy PLC said its Centauro Sur No. 2 appraisal well in its Campo Rico block in Colombia produced over 700 barrels of oil in the first 24 hours of steady test production.

The well was drilled to a total depth of 10,865 feet.

Chairman Alastair Beardsall said: 'We are pleased to have confirmed the production potential of the Centauro Sur field, discovered earlier in the year.'

This is another new oil field for Emerald in Colombia

EEN still looks very weak and has done little to shake off the image they had a few years ago.

It looks to me to be heading lower still. Fair value around 50p?

Haystack - I disagree, looking at the chart. The SP has not breached the long-term uptrend from Jan 2004 and has moved since then within a fairly reliable upward channel bounded at the top by the twin peaks of April 2004 and 2006.

Not bad after a dry well in Syria and general market malaise since May. On the other hand, if you think Syria is totally dry, sell now.

sd

1stly Haystack is talking b******s and is undoubtably a deramper.

My concern is Syria, while most of the SP is down to Columbia, i feel any association with the above will have a negative effect.
Still a few question remain unanswered but i feel confident that EEN will
deliver.
cyril

I have been following EEN for many years and have owned their shares several times and they have never delivered, particularly in Columbia.

(I have no position in EEN and have not had one for years now).

so why deramp are you short then

you have been banned on advfn it about time moneyam banned you

I am not deramping EEN. I just have some comments which happen to be negative.

Do you only like to read positive views? That is a risky investment strategy.

I am neither short nor long on EEN and have no intention of being. EEN is a stock that I would avoid.

Haystack has never have any positive news on any shares...he is so pessimistic...can you name me one share that you are positive of, Haystack?

I have posted plenty of positive comments of stocks. That has not applied to EEN for years though.

Haystack

whats your opinion on EEN with the new pumps fitted, producing 10,000bopd from Colombia by year end

Haystack

whats your opinion on EEN with the new pumps fitted, producing 10,000bopd from Colombia by year end

Slight echo on this thread!

Still heading down

Still heading up!