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

Gogante 2 should be getting close to total depth?
cyril

Operations Update - Syria, Block 26

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the following update on operations in Block 26, Syria.

Khurbet East No.10 Development Well

Drilling operations have commenced at the Khurbet East No.10 well, the second of three development wells being drilled in the central area of the field to support the expansion of the Khurbet East early production facility. The well is planned as a horizontal production well with a surface location adjacent to the recently completed Khurbet East No.9 development well and entering the Cretaceous Massive reservoir approximately 700 metres to the northwest.

Khurbet East Field Oil Production


Gross oil production from the Khurbet East field has recently averaged approximately 10,800 barrels per day and has reached a cumulative total of 3 million barrels. The field continues to perform above expectation with strong pressure support, high productivity from producing wells, and minimal field water production of less than 1%.

The expansion of the capacity of the early production facility to 18,000 barrels of fluid per day is proceeding on schedule with first production through the expanded facility expected early in the third quarter of 2009.

Exploration 3D Seismic Survey

Acquisition of the 850 square kilometre 3D seismic survey in the area around the Khurbet East and Yousefieh fields has been completed. Delivery of the final processed data is expected late in the third quarter of 2009, with interpretation of these data commencing immediately thereafter.

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

'We are very pleased with the continued progress in Block 26, with the co-ordinated development activities focused on delivering increased production rates from the Khurbet East field in the third quarter. We also look forward to the interpretation of the recently completed 3D seismic survey which is expected to result in further exploration drilling in 2010.'

Another brick in the wall, "now get ready for GIGANTE-2 due very shortly"?

cyril

Emerald pleased with progress in Syria
Business Financial Newswire
Emerald Energy is pleased with the continued progress in operations on Block 26 in Syria.

It said drilling operations had commenced at the Khurbet East No.10 well, the second of three development wells being drilled in the central area of the field.

The field continues to perform above expectation with strong pressure support, high productivity from producing wells, and minimal field water production of less than 1%.

It said acquisition of the 850 square kilometre 3D seismic survey in the area around the Khurbet East and Yousefieh fields has been completed.

Delivery of the final processed data is expected late in the third quarter of 2009, with interpretation of these data commencing immediately thereafter.

RNS Number : 4947T
Emerald Energy PLC
08 June 2009

Emerald Energy Plc
8 June 2009

Syria, Block 26

Emerald Energy Plc ('Emerald' or the 'Company') has been notified that Gulfsands Petroleum Plc ('Gulfsands'), the operator for Block 26, Syria, will be making a presentation to analysts today in connection with a site visit to Block 26 in Syria.

A copy of the operator's presentation to be given to the analysts is available on the Gulfsands website (www.gulfsands.com).


Enquiries: Lisa Hibberd 020 7925 2440

see following post for link

Gulfsand Petroleum Analyst Presentation - Damascus (June 08, 2009)
link


http://www.gulfsands.com/i/pdf/GPX_presentation_2009-06-08_analyst.pdf

http://www.investegate.co.uk/Article.aspx?id=200906090700125689T
cyril

Operations Update (Emerald Energy)

TIDMEEN

RNS Number : 5689T
Emerald Energy PLC
09 June 2009

?
Emerald Energy Plc


9 June 2009


Colombia - Operations Update


Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the
following update on operations in Colombia.


Mirto No.1 Exploration Well, Maranta Block


Drilling operations have commenced on the Mirto No.1 exploration well in the
Maranta block, located in the Caguan-Putumayo basin in the south-west of
Colombia. The Maranta block is adjacent to blocks containing producing oil
fields, including the Costayaco field operated by Gran Tierra Energy Inc.

The Mirto No.1 well is designed to evaluate a structure with exploration
potential in the Cretaceous aged Villeta and Caballos formations. The Company
estimates that the Mirto prospect, if successful, may contain unrisked
prospective resources in the range 5 to 15 million barrels.

The Mirto No.1 well is expected to have a total drilling depth of approximately
11,500 feet and take approximately two months to drill and evaluate.


Emerald holds a 100% working interest in the Maranta contract, awarded by the
National Hydrocarbon Agency of Colombia ("ANH"). La Cortez Energy Inc. ("La
Cortez") will pay 65% of the cost of drilling and production testing the Mirto
No.1 well as part of the consideration to earn a 20% working interest in the
block, subject to the approval of the ANH.


Gigante No.2 Development Well


The Gigante No.2 well that commenced drilling in December 2008 has reached a
planned intermediate casing point at a depth of approximately 15,185 feet. The
7" liner has been run into the well and cemented in place. The planned total
depth of this well is approximately 16,000 feet; drilling and initial evaluation
of the well is expected to be completed in the middle of 2009.


Capella Field Appraisal, Ombu Block


The initial well testing operations have been completed in the Capella No.6
well. Following the first open-hole test of the full lower Mirador conglomerate
interval, which produced approximately 295 barrels of fluid per day with a water
cut of approximately 90%, the lower part of the interval was isolated with a
cement plug and the remaining interval was subsequently flow tested. During this
flow test, oil production stabilised at a rate of approximately 90 barrels per
day with a water cut of approximately 25%.


The upper Mirador sand interval was encountered in the Capella No.6 well with
net potential hydrocarbon pay of 80 feet of sand, greatly exceeding the
previously recorded maximum net thickness of 23 feet encountered in the Capella
No.2 well. A total of 3 cased hole flow tests were conducted in this interval
and in each test the oil production stabilised at a rate of approximately 100
barrels per day with a water cut in the range of 2% to 5%. Based on initial
evaluation of the data obtained during the tests, the Company believes that the
rate was limited by a combination of sand production, pump capacity and the
available completion equipment, and that there is potential to increase the rate
from this interval by optimising the design of the well production equipment.


The Company plans to drill the first horizontal well in the field to target the
thicker upper Mirador sand in the Capella No.6 area, and has scheduled the
drilling of this well for the late third or early fourth quarter of 2009 to
allow time to optimise the drilling and completion design based on the results
of the Capella No.6 well. The drilling rig, which has successfully drilled six
wells in the Capella field, is now being demobilised from the location.


The extended production testing of Capella wells continued on an intermittent
basis in May due to marketing constraints, with an average monthly gross oil
production rate during the month of approximately 250 barrels per day and a
daily maximum of approximately 700 barrels per day.


Jacaranda Block Relinquishment


Following the results of the Jacinto No.1 exploration well, the Company has
concluded its review of the remaining exploration potential in the Jacaranda
block and has notified the ANH that it has decided not the enter the third
exploration phase in the block, and to relinquish the block.


Production


Gross oil production in the period from 1 January to 31 May 2009 has averaged
approximately 4,030 barrels per day.




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


"We are very pleased with the progress in Colombia, with strong production from
existing fields, the Gigante No.2 well approaching its target horizons,
continued progress in the appraisal of the Capella heavy oil discovery, and the
commencement of the Mirto No.1 exploration well. We look forward to the outcome
of these activities, each of which has the potential to materially add to
shareholder value."


Enquiries: Lisa Hibberd 020 7925 2440

Not long to wait now,before knowing how much oil the Tetuan really contains

23 June 2009




Colombia - Gigante No.2 Well




Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the following update on operations in the Gigante No.2 well in the Matambo Association Contract in Colombia. Emerald is the Operator and Ecopetrol S.A, the Colombian national oil company, is a partner in these operations.




Drilling of the Gigante No.2 well has been completed and a production liner is being run in preparation for testing operations.




Gigante No.2 has been planned primarily as a development well in the currently producing Tetuan reservoir and also to evaluate the exploration potential of the deeper Caballos formation.




The well has been drilled to a total depth of 15,630 feet, encountering hydrocarbon shows in both the Tetuan and Caballos formations. The tops of the Tetuan and Caballos formations were encountered approximately 378 feet and 338 feet structurally higher, respectively, than in the Gigante No.1A well which is significantly better than the pre-drill estimate of 260 feet.




A preliminary analysis of the drilling and wireline logging data acquired to date indicates a potentially oil bearing sandstone interval of approximately 32 feet (gross and net) in the Tetuan formation with an average porosity of approximately 10%, similar to the porosity in the Gigante No.1A production well.




In the Caballos formation, a preliminary analysis of the data indicates a 163 feet gross (107 feet net) sandstone interval with an average porosity of approximately 9%. The analysis of wireIine logging data acquired to date has not been able to confirm if the Caballos formation is oil bearing.




Due to difficult open hole conditions in the well, the Operator has decided to curtail the wireline logging operations and to run a production liner across the open hole section of the well before proceeding with flow testing of both the Tetuan and Caballos formations.




Following the liner running operation, the Operator plans to demobilise the drilling rig from the location and mobilise a smaller, lower cost rig for the testing operations. This smaller rig is expected to be operational within two weeks and the subsequent flow testing operations are expected to take up to one month to conduct.







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




'We are very pleased with the progress in the Gigante No.2 well, having successfully drilled this deep and technically complex well, and having encountered the target formations significantly higher on the structure than in the existing Gigante No.1A production well. We now look forward with our partner, Ecopetrol S.A., to the results of the testing operations and future production from this well.'

cyril

Is this good news? The price has dropped over the past week. Could be a period of consolidation. I've held for 4 years(in at 178p) and I still think this is undervalued. Is 8 too to expect by year end?

Just in, up over 10%. not sure why?
cyril

cyril
Emerald top of today's BBC "Winners List

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/shares/default.stm

DFGO thanks,seems we.re in talks with a 3rd parrty.

Edit; Oil explorer Emerald Energy has confirmed that it has received an approach which could lead to a possible cash offer for the Company.

Emerald's statement follows press speculation about a possible bid and the recent increase in its share price.

The statement says: "It should be emphasised that the discussions are at a preliminary stage.

"Accordingly, no assurances can be given that any formal offer will be forthcoming or that any transaction will occur."
cyril

cyril

yes a figure 7.50 mention by Ft,worth a lot more.

ah, that lovely word "worth" ..... as i have said before, something is only worth as much as someone else is prepared to pay

At 750p this will be bought on the cheap and yes "worth a lot more". Its "worth" noting that DFGO's has an indepth knowledge of this company who along with other such posters has helped bring the its true merits to us less able.
So once again yes, very cheap against the reconised norm of valuing an E&P company.
cyril

i do not dispute the sentiment, but merely the reality of life

Yes its true that's the nature of business, still hoping the 750p is the opening shot?
DfGO; a question for you, do you think that the interested party will have access
to G2 results? My thoughts they're so close to flow rates that they must have some or most by now?
cyril

I've set up a blog with research links for the under-researched:

http://emerald-energy-een.blogspot.com/

Kiwi7 thanks, a great idea and most useful, u;ll add it to the haeder.
Answer to my question,
14 July 2009




Colombia - Gigante No.2 Well




Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the following update on well testing operations in the Gigante No.2 well in the Matambo Association Contract in Colombia.




The first flow testing operation in the Caballos formation has been successfully completed with 32 degree API oil flowing to surface, under natural flow, at a rate of approximately 185 barrels per day.




A flow test was conducted over a total perforated interval of 84 feet in the Caballos formation. Oil of approximately 32 degrees API gravity flowed to surface, under natural flow and through a 24/64 inch choke, at an average rate of 185 barrels per day over a 9 hour period with a water cut of approximately 3.5% which may have been the return of fluids lost to the formation during drilling operations.




An analysis of the pressure data acquired during the flow test indicates that formation damage has occurred during drilling. This data also indicates that the pressure in the Caballos formation has not been depleted by production from the Tetuan reservoir in the Gigante No.1A well.




The Company is now preparing to conduct a further flow test of the Caballos formation using an electrical submersible pump, a method of artificial lift currently used for production in the Gigante No.1A well.




The Caballos formation is the exploration target in the Gigante No.2 well, underlying the Tetuan formation which is the producing reservoir in the Gigante No.1A well and the development target in the Gigante No.2 well. The Caballos formation was encountered approximately 338 feet structurally higher in the Gigante No.2 well than in the Gigante No.1A well.




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




'We are delighted to have demonstrated that the Caballos formation, the exploration target in this well, is oil bearing and look forward to the results of further testing of this formation before proceeding to the flow testing of the Tetuan reservoir.'
cyril