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

An independent resource and reserve evaluation of the Capella structure was conducted by Netherland, Sewell & Associates, Inc ('NSAI') using SPE guidelines. In evaluating the oil in place, NSAI considered two cases; the low (P90) case considered the area of approximately 3,500 acres investigated by the first five wells drilled, and the high (P10) case considered the area of the full structure of approximately 22,000 acres. For these cases, NSAI estimated gross stock tank oil initially in place to be 245 and 1,111 million barrels respectively. NSAI estimated the gross recoverable resource, consisting of reserves plus contingent resources, to be 26.5 million barrels in the low (P90) case and 122.5 million barrels in the high (P10) case. NSAI used a lognormal distribution, commonly used in geological estimation, in determining the P50 gross resource estimate to be 57 million barrels.

UPDATE 1-Emerald Energy posts six-fold rise in '08 profit

Market News
Fear still in focus after strong rally
Equities up for 5th session in row on econ hope
Oil drops over 3 percent after OPEC keeps output steady
More Business & Investing News... * Full-year revenue $86 mln vs $44.4 mln year-ago
http://www.reuters.com/article/rbssEnergyNews/idUSBNG46574920090316
* Says strong balance sheet supports 2009 business plan (Adds details)

March 16 (Reuters) - Oil and gas explorer Emerald Energy Plc (EMEN.L) reported a six-fold jump in full-year profit as revenue nearly doubled, and said it expected material increase in production in Colombia and Syria before the end of 2009.

Business plan for 2009 is supported by strong balance sheet and cash flow generation from producing assets in those countries, the South America and Middle East-focused company said on Monday.

"The volatility of the oil price seen in 2008 has now moderated but we now face the uncertainty of the impact from the slowing global economy," Emerald said.

However, these events, whilst unsettling for many in the short term, will not affect its short-term or longer-term plans, it added.

For the year ended Dec. 31, 2008, Emerald posted a pretax profit of $52.45 million, compared with $8.58 million a year ago, as revenue nearly doubled to $86 million.

The company said it had cash and cash equivalents of $74 million as at Dec. 31, versus $40 million in 2007.

Emerald Energy shares closed at 397 pence on Friday. (Reporting by Balachander Surianarayanan in Bangalore; Editing by Gopakumar Warrier)

required field

lot of new stuff here the 22,000acres would require 360 to 370 wells

slide22

Colombia : Capella Discovery (Ombu Block)

Highly material discovery
Structure ~22,000 acre (89 km2)
Hydrocarbon in two Mirador zones
Shallow reservoir < 4,000 ft
Heavy oil 9 - 11 APIo Low viscosity and high sulphur (~2.5%)

Large area of structure to appraise
Current environmental permit ~8,000 acres
(32 km2)
Structure extends to north and south of
existing environmental permit area

Leaders in the area
First exploration activity since 1970s
Awarded Durillo contract to south-west
o Potential field extension

slide 23
Colombia : Capella Appraisal Results to Date and Plans
Appraisal Strategy
Wells to prove up reserves
Production to demonstrate reservoir performance
Sales to develop transport routes and markets

Results
5 wells drilled, all found 2 reservoirs
o Upper Mirador, 8 23 feet net sand thickness
o Lower Mirador, 115 275 feet gross thickness, fractured conglomorate
Well cold flow tests of 100 - 345 bopd
o Excellent reservoir permeabilities
Extended production testing started
400 bopd, water cut 6%


Forward plans
Continue extended production testing
Total 7 wells in south (2 to drill)
Design of surface facilities
Technology application
o High angle / horizontal wells, thermal recovery,
upgrading.
Delineate northern area
o after environmental permit

slide 24
Colombia : Capella Oil-Initially-in-Place and Resource (Gross)

Netherland, Sewell & Associates, Inc.
Two cases of oil-initially-in-place and
resources evaluated:
Low (P90) :
o 3,500 acre (14 km2) area around existing
wells
yellow area on map
~16% of structure
High (P10)
o 22,000 acre (89 km2)
o Structure using lowest know oil from DST
yellow + green areas on map

slide25
Colombia : Capella Resources and Reserves (Gross)

Resource best estimate (P50) calculated using
LogNormal distribution of P90 and P10 cases

Reserves estimate
Considers range of recovery from area around
existing wells (approx 4,000 acres, 16 km2
Proved = direct offset (1 well spacing)
o Probable = 1 offset removed (2 well spacing)
o Possible = 2 offset removed (3 well spacing)
60 acre well spacing (approx 500m apart)
Approx 350,000 bbl per well recovery
Approx 260 bopd initial rate
Difference between total resource and reserves
classified as contingent resource
Pending obtaining additional data to better understand
reservoir uncertainties away from existing well control

slide 26
Colombia : Capella Transportation & Marketing
Initial
Trucking direct to local markets
o e.g. Bogota, Medellin, Cali
Initial market for crude
o Allows production for reservoir appraisal
o Demonstrates quality of oil and
sustainability of volumes needed to
access pipeline network
Intermediate
Cali
Bogota
Medellin
Vasconia
Pipeline access
o Neiva and Vasconia are potential access
points
o Blending with lighter crude
Longer term
Potential for upgrading in the field, then
direct delivery to pipelines


http://www.emeraldenergy.com/documents/EEN2008Results.pdf

RNS Number : 3495P
Emerald Energy PLC
24 March 2009

Emerald Energy Plc

24 March 2009

Result of Drilling Operations in the Jacaranda Block, Colombia


Emerald Energy Plc ('Emerald' or the 'Company') provides the following update on operations in Colombia.


The Jacinto No.1 exploration well in the Jacaranda block, designed to evaluate the potential of a stratigraphic exploration target in the Tertiary aged Carbonera formation, has been drilled to a total depth of 6,460 feet.


Hydrocarbon shows and a well developed sand channel were encountered while drilling through the Carbonera formation but wire-line log evaluation indicates the sand channel to be water bearing. Following this result, the well has been plugged and abandoned.



Emerald's Chief Executive Officer, Angus MacAskill, said:



The Jacinto prospect was always recognised as being a higher risk stratigraphic exploration play but attractive to drill for its high potential reward and low drilling cost. While encouraged to encounter a thick sand channel necessary for the play, we are disappointed to find the channel water filled. We now look forward to the remaining exploration wells to be drilled in 2009.



Enquiries: Lisa Hibberd 020 7925 2440


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

END

Thanks DFGO for all the info....still in and a lot more to come with oil prices on the up !.

as i said on the FOGL thread, truly fantastic performance ..... little comparative chart for you below over the last year

EEN = Red
TLW = Green
PMO = Black
HOIL = Dark Blue
FOGL = Gold (should be poo-brown!)

Very nice comparisons cynic!

they don't really have much to do with each other, except i get told by that prick Markymar that i am a liar and just ramping HOIL, PMO and TLW ..... mind you, he can/will never try to support his arguments with logic, but what can you expect from someone who thinks RKH is the best thing since sliced bread!

confess i know bugger all about EEN except that they operate in colombia ..... clearly worth further investigation

Syria as well.....producing double the amount over there !.

very small free float so assuredly pretty illiquid, so care needed

Oil is mainly on a rising trend.....so it's a big influence.....this one can pull back very suddenly 30p or so and then take a week or so to recover rising above the previous high.

just sold my shares 550 of them,had these for 8 long years!!! and is the only stock ive made money on!! thank you EEN :))))))

Pullback due, with one their usual spikes with sharp drops to follow.......and oil is dropping with not much news due and a failed well......back to 420 p or so ?.

Nice move by Emerald today

Took profits, far too soon by the look of things !.

Taking a profit is never a bad thing (turning paper into money)especially e/y tax.
Just understand that you can't buy these for 30days, or its considered no sale.
Great to see 5 broken and held,augers well for the future and confirms the faith that was shown during the recent market turmoil.
DFGO i need to update the header,the problem is its getting a bit heavy. I'd be interested in any suggestions ie what in and out?
cyril
ps Have looked at AFR?

Emeralds 10% partener in Ombu Block, Capella Heavy Oil Discovery in Colombia



Canacol Energy Ltd. Announces Update of Drilling Program at Its Capella Heavy Oil Discovery in Colombia


April 6, 2009 11:41 AM EDT


CALGARY, ALBERTA--(Marketwire - April 6, 2009) - Canacol Energy Ltd. (TSX VENTURE: CNE) ("Canacol" or the "Corporation") is pleased to provide an update of its exploration and appraisal drilling program to date on its 300 square kilometer Ombu E&P contract in the Caguan Putumayo Basin in Colombia. On July 9, 2008, the Corporation entered into a farm-out agreement with Emerald Energy Plc. ("Emerald"), the operator of the contract, earning a 10% working interest, subject to the approval of the ANH, by paying 100% of the cost of the drilling and testing of the Capella 1 well.

To date, 5 wells have been drilled and 1 further well, Capella 6,is being drilled and completed, covering an area of approximately 30 square kilometres within the southern part of the Capella discovery. Using the oil column height information obtained from the wells, and the structural interpretation derived from the existing 2D seismic, the accumulation has a mapped area of approximately 89 square kilometres (22,000 acres). Following the environmental permitting of the northern half of the structure later in 2009, the operator plans further delineation drilling.

Charle Gamba, President and CEO of Canacol, stated "We are pleased with the positive drilling and production test results obtained to date from the Capella discovery. The large areal extent of the structure represents a significant accumulation of heavy oil at Capella. We are looking forward to completion of the drilling program in the southern part of the field shortly, and the future appraisal of the northern part of the field later this year."

The Capella 1 vertical exploration well was drilled to a total depth of 3,802 feet on July 30, 2008, encountering oil of approximately 10 degrees API gravity in two sandstone reservoirs of the Eocene Mirador formation with a combined 189 feet of potential hydrocarbon bearing interval. Both reservoirs were tested using a progressive cavity pump, and flowed at a stabilized combined rate of 240 barrels of oil per day ("bopd"). The Capella 2 vertical well, located approximately 1.3 km southwest of Capella 1, was drilled to a total depth of 3,550 feet on 19th October, encountering approximately 163 feet of potential hydrocarbon pay within the same two reservoirs in the Mirador. Both reservoirs flow tested at a combined stabilized oil rate of 345 bopd. The Capella 3 well, the first deviated well drilled in the block, was drilled from a surface location adjacent to the Capella 1, penetrating the Mirador approximately 340 meters away, and reaching a total depth of 3,850 feet on November 26, 2008. The well encountered both reservoirs within the Mirador with net hydrocarbon intervals similar to those encountered in the other wells. The lower Mirador reservoir was flow tested at a rate of approximately 135 bopd of oil with a water cut of approximately 8%. The upper Mirador reservoir was encountered with similar thickness and petrophysical properties as in the previous wells but was not flow tested.

The Capella 4 vertical well was drilled approximately 1.6 kilometres to the southwest of the Capella 1 location, reaching a total depth of 3,545 feet on December 24, 2008. Both of the Mirador reservoirs were encountered with the upper reservoir in this well being thinner than in previous wells, with excellent oil and gas shows while drilling. Poor cementing within the well bore resulted in neither of the Mirador reservoirs being effectively flow tested. The operator is evaluating options with respect to remediating the well at some point in the future. The Capella 5 vertical well, located some 3.4 kilometres to the northeast of Capella 1, was drilled to a total depth of 3,314 feet on February 8, 2009, encountering both reservoirs within the Mirador with net hydrocarbon intervals similar to those encountered in the other wells. The lower Mirador reservoir was flow tested at an average rate of approximately 82 bopd with a water cut of approximately 52% and the upper Mirador reservoir was flow tested at an average rate of approximately 26 bopd with a water cut of approximately 4%.

The Capella 6 vertical well, located some 3.6 kilometres to the south of Capella 1, is currently being drilled and completed. The operator plans to drill 1 additional well after testing of the Capella 6 well has been completed.

The 5 wells tested to date have flowed heavy oil in the range of 9 to 11 degrees API gravity at individual well rates of up to 345 bopd under cold flow conditions from predominantly vertical wells. Extended production testing of the Capella 1, 2, and 3 wells in February yielded stable production rates of 400 bopd, with the water cut for the field steadily reducing to a level of approximately 6%. The operator plans to complete extended production testing of all the wells as part of the appraisal of the southern part of the Capella structure. The field production rate is currently constrained by oil trucking and sales capacity, with the crude being sold to local markets. The operator is also planning to commence a cyclic steam injection pilot in one of the vertical wells this year in order to investigate the effects of thermal methods on increasing rate and recovery efficiency.

The Corporation has been made aware that Emerald has announced its updated reserve disclosure in relation to the Capella Field under its reporting requirements in accordance with UK laws, namely on pages 10 and 11 of Emerald's 2008 Annual Report and Accounts, which may be accessed via the Emerald Energy Plc. website. Readers are cautioned that these figures released by Emerald are prepared in accordance with Society of Petroleum Engineering Guidelines and are not in accordance with the Canadian requirements under National Instrument 51-101- Standards Of Disclosure For Oil And Gas Activities and therefore cannot be relied upon by the Corporation for disclosure. The Corporation has not at this time received its reserve update on the Capella Field from its reserve evaluator in accordance with National Instrument 51-101- Standards Of Disclosure For Oil And Gas Activities and therefore cannot release any reserve data. The Corporation anticipates release of such Capella Field reserve data in the near future.

Canacol is a Canadian based international oil and gas corporation with operations in Colombia, Brazil, Guyana, and Northern Ireland. Canacol is publicly traded on TSX Venture Exchange (TSX VENTURE: CNE). The Corporation's public filings may be found at www.sedar.com.

This press release may contain statements within the meaning of safe harbour provisions as defined under Securities Laws and Regulations. The above statements are based on the current expectations and beliefs of Canacol's management and are subject to a number of risks and uncertainties that may cause the actual results to differ materially from those described above. Canacol does not undertake any responsibility with regard to the accuracy of this press release nor the obligation to update the abovementioned information.

This press release contains certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation cannot assure that actual results will be consistent with these forward looking statements. They are made as of the date hereof and are subject to change and the Corporation assumes no obligation to revise or update them to reflect new circumstances, except as required by law. Prospective investors should not place undue reliance on forward looking statements. These factors include the inherent risks involved in the exploration for and development of crude oil and natural gas properties, the uncertainties involved in interpreting drilling results and other geological and geophysical data, fluctuating energy prices, the possibility of cost overruns or unanticipated costs or delays and other uncertainties associated with the oil and gas industry. Other risk factors could include risks associated with negotiating with foreign governments as well as country risk associated with conducting international activities, and other factors, many of which are beyond the control of the Corporation. A barrel of oil equivalent (boe) is derived by converting gas to oil in the ratio of six thousand cubic feet of gas to oil and may be misleading, particularly if used in isolation. A boe conversion is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead, especially in various international jurisdictions.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FOR FURTHER INFORMATION PLEASE CONTACT:
Canacol Energy Ltd.
Mr. Brian Hearst
CFO
(403) 237-9925
Email: bhearst@canacolenergy.com

Source: Canacol Energy Ltd.

http://www.istockanalyst.com/article/viewiStockNews/articleid/3178946

cyril
please keep the following in header

http://www.emeraldenergy.com

http://www.investegate.co.uk/Article.aspx?id=200812220700095529K

http://www.investegate.co.uk/Article.aspx?id=200901260700092060M

http://www.investegate.co.uk/Article.aspx?id=200902110700131142N

http://www.emeraldenergy.com/documents/20090126EENInvestorPresentation.pdf/

http://www.emeraldenergy.com/documents/EEN2008Results.pdf

cyril
Emerald Energy plans a cyclic steam injection pilot in one well this year.


Large Caguan basin find shapes up in Colombia

By OGJ editors
HOUSTON, Apr. 6 -- Emerald Energy PLC and Canacol Energy Ltd., Calgary, are delineating what appears to be a large heavy oil discovery in Colombia's Caguan basin 200 miles south of Bogota.

Five wells have been drilled, a sixth is drilling, and a seventh is planned in the southern part of Capella, an accumulation of 9-11 gravity oil in the Eocene Mirador formation that appears from 2D seismic to cover 22,000 acres on the Ombu E&P contract area.

Delineation drilling is planned on the northern half of the structure later in 2009 after environmental permitting.

Emerald Energy said gross proved and probable reserves are 14.8 million bbl from estimated initial oil in place of 245 million to 1.1 billion bbl. The six existing wells are on the southern 7,400 acres of the structure. The first five wells found oil in both intervals.

Emerald Energy and Canacol hold 90% and 10% interest, respectively, in the 74,130-acre Ombu contract area, and Emerald Energy holds 100% working interest in the 27,181-acre Durillo contract area adjacent to and southwest of Ombu. Emerald Energy said Durillo may have potential in the same exploration play as Capella.

The vertical Capella-1 went to a total depth of 3,802 ft in mid-2008 and found 189 ft of potential hydrocarbon-bearing interval in two Mirador sandstones. The two tested at a combined 240 b/d oil progressive cavity pumps.

Emerald Energy plans a cyclic steam injection pilot in one well this year. The field production rate is constrained by oil trucking and sales capacity. The individual intervals tested at initial rates of 26-240 b/d of oil and stabilized at as much as 400 b/d on extended tests with water cut steadily declining to 6%.

http://www.ogj.com/display_article/358525/120/ARTCL/none/ExplD/1/Large-Caguan-basin-find-shapes-up-in-Colombia/

RNS Number : 6272Q
Emerald Energy PLC
15 April 2009

FOR IMMEDIATE RELEASE

15 April 2009

CONVERSION OF CONVERTIBLE BONDS

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

The Company and Credit Suisse Securities (Europe) Limited ('Credit Suisse') have reached an agreement for the conversion of the entire outstanding principal amount of the Series B US$15,000,000 4.875 per cent. senior unsecured convertible bonds due 2013 (the 'Series B Bonds') into the Company's ordinary shares (the 'Ordinary Shares'). The Series B bonds which were issued in July 2007 are convertible into Ordinary Shares at a price of 270 pence per Ordinary Share at a fixed US dollar/sterling exchange rate of 2.0171.

Credit Suisse has agreed to exercise its right to convert all of the outstanding principal amount of the Series B Bonds into the Ordinary Shares, in consideration of which the Company has agreed to pay Credit Suisse an amount of US$914,062.50, equal to the interest payable on Series B Bonds for the period from and including 31 March 2009 to but excluding 30 June 2010.

The total number of Ordinary Shares issued to Credit Suisse on 15 April 2009 pursuant to conversion of the Series B bonds is 2,754,229. These Ordinary Shares are expected to be listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange no later than 22 April 2009. Following this transaction, the issued share capital of the Company will be 62,440,373 Ordinary Shares.

The Series A US$15,000,000 5.875 per cent. senior unsecured convertible bonds due 2012 that were also issued in July 2007 remain in place.

Enquiries:

Emerald Energy Plc - Lisa Hibberd 020 7925 2440