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

am I the only one here

http://www.oilbarrel.com:80/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1166061608&feed=oilbarrel_en

14.12.2006
Gulfsands Going For An Exploration Step Up With Its Tigris-1 Well In Syria
Gulfsands Petroleum, the London AIM quoted company, has a profile which investors in small and mid cap companies like to see. There is production in the US and some potentially big exploration upside in Syria. There has been news on both fronts. We reported a few weeks ago that the US production stream was back up to 2,800 barrels of oil equivalent a day, following the hurricane disruption of 2005. We now understand that it has strengthened and is growing satisfactorily. This provides respectable amounts of cash flow on gross revenues of just over US$12 million for the first six months of the year.

But the real excitement is in Syria with the possibility of a significant step up through exploration. Gulfsands has reported that on the drilling of the Tigris-1 well in Block 26, in Syria, it has set 9 5/8 casing at a depth of 3,435 metres on Tigris. At this depth the well bore has entered into the Palaeozoic aged geological section to which the company owns the contractual rights in the Tigris structure.

Block 26 is an 11,000 sq kms tranche of acreage, equivalent in size to 50 North Sea blocks. It lies in a proven oil and gas province: the block is home to fields that are producing over 110,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Company (SPC). There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous and Triassic reservoirs, which are thought to total 3 billion barrels of recoverable oil. Gulfsands Production Sharing Agreement (PSA) gives it - and its 50/50 partner Emerald Energy - rights to the deep Palaeozoic reservoirs under the existing shallower fields.

What the companys latest statement means, in laymans terms, is that with the new casing, Gulfsands is now drilling in its own rocks, as they say. The partners first well on the Souedieh North-1 block, drilled in the second quarter of this year, was something of a disappointment, failing to recover moveable hydrocarbons during wire-line testing. Drilling was suspended for further analysis to decide whether to carry out chemical or mechanical stimulation on the well, or to deepen (or abandon) it.

This has no bearing on the prospectivity of the Tigris structure. The Tigris-1 well will go down to 4,500 metres to target the Carboniferous and Devonian- aged reservoirs that lie directly under the Souedieh field, the largest field in Syria.

This is not the first well to be drilled into these deep structures. The S1100 well, sunk by the SPC about one kilometre northeast of Gulfsands well site in 1994, indicated a substantial hydrocarbon column. So, strictly speaking this is not a wildcat well. The main objective of Tigris-1 is to confirm the presence of this hydrocarbon column.

The Tigris structure has been estimated by independent reservoir surveyors, the Ryder Scott Company, to have probable reserves of 442 bcf of gas, which combined with possible and prospective resources, totals a potential resource of 4.3 tcf of natural gas or 562 million barrels of oil.

But as the Souedieh North-1 well showed, only the drill bit will tell how much oil or gas there is, if any. The well should take another 35 days or so to reach target depth.
< back

I'm here, went Long yesterday, for first time since the May crash and SN#1 debacle.

Way too neglected by the market, expecially considering that Tigris alone could be worth over 10 a share to Emerald, and also that the Aureliano drill target has the potentail to almost double the current share price.

Interesting times, in fact during the Christmas lull, there probably isn't a more exciting stock to be in.

AndyH78

Ive been in EEN since 1999 and added since monday also bought GPX this week

Tigris target depth getting ever closer

Another Exploration & Production contract Emerald Energy

Emerald Energy PLC
21 December 2006

Emerald Energy Plc

21 December 2006

Ombu Exploration and Production Contract Award in Colombia

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to announce that it
has been awarded a new exploration & production contract (the 'Contract') in
Colombia. The Ombu Contract, in which Emerald has a 100% working interest,
covers an area of 300 sq. km and is located in the Caguan Basin, to the
south-west of the Llanos Basin, in Colombia.

The initial phase of the exploration period is 11 months and the minimum work
programme comprises the acquisition of 61 km of new 2D seismic data and the
re-processing of 60 km of existing 2D seismic data. If Emerald elects to enter
the second phase, the minimum work programme includes the drilling of 1 well to
an estimated depth of 5,000 ft.

The Ombu Contract has been awarded by the ANH, the National Hydrocarbon Agency
of Colombia, and a copy of the model contract terms can be found on the ANH
website (www.anh.gov.co).

Emeralds' Chief Executive Officer, Angus MacAskill, said:

'We are very pleased with the award of our second ANH E&P Contract in Colombia.
The award of this prospective acreage with a petroleum system, proven by
historic wells, contributes to the building of an exciting portfolio of
exploration opportunities for future growth.'

More good news, with two high impact drills both much less than a month from completion I'm surprised this is so unloved by the market.

Certainly a case of once bitten twice shy for those that lost out after the Soudieh North result.

Emerald Energy wins Colombia exploration & production contract
AFX


LONDON (AFX) - Emerald Energy PLC said it has won the Ombu exploration and production contract from ANH, the National Hydrocarbon Agency of Colombia.

Financial details of the contract were not disclosed.

The Ombu contract, in which the company has a 100 pct working interest and covers an area of 300 square kilometres, is in the Caguan Basin, to the south-west of the Llanos Basin, in Colombia.

'The award of this prospective acreage with a petroleum system, proven by historic wells, contributes to the building of an exciting portfolio of exploration opportunities for future growth,' chief executive Angus MacAskill said.

newsdesk@afxnews.com

EEN up 7.5p

Auction 5020 2.10 1p above buying price on advfn

Emeralds partener Gulfsands very close to target depth now with Tigris well.

copied this post from advfn GPX bb

PapalPower - 3 Jan'07 - 02:21 - 383 of 406


A nice little pre-spud summary of what the hopes are for the Tigris drill :


1. Emerald Energy is talking up the potential of its Tigris structure onshore Syria, where drilling of the Tigris-1 well is expected to commence in September. The company highlighted new information released by operator Gulfsands Petroleum, the operator of Block 26 , following an economic valuation by Ryder Scott Company, L.P. The latter has completed an economic valuation of the probable and possible reserves (unrisked) on Tigris, which can be viewed on Emerald's website ( www.emeraldenergy.com ). On 30 January 2006, Ryder Scott completed a reserves study on the Tigris structure in which two cases were considered as there was insufficient data available at that time to determine with certainty the hydrocarbon fluid contained within the structure. This reserves study classified probable and possible reserves and prospective resource as follows: If Tigris is a natural gas accumulation, Ryder Scott has classified 442 Bcf of gas as probable reserves, a further 442 Bcf of gas as possible reserves, and a further 3.447 Tcf of gas as a prospective resource. In summary, total estimated hydrocarbon potential for probable and possible reserves and prospective resource in this case is 4.33 Tcf of gas, equivalent to 722 million boe. If Tigris is an oil accumulation, Ryder Scott has classified 104 million bbl of oil and 64 Bcf of gas as possible reserves and a further 408 million bbl of oil and 245 Bcf of gas as prospective resource. In summary, total estimated hydrocarbon potential for possible reserve and prospective resource in this case is 512 million bbl of oil and 308 Bcf of gas, equivalent to 563 million boe. If Tigris is a natural gas accumulation, Ryder Scott determined the probable reserves net to Emerald after applying the fiscal terms of the production sharing contract are 102 Bcf of gas having a net present value, discounted at 10%, of $233 million. In addition, the accumulation rates 75 Bcf of gas of possible reserves net to Emerald having a net present value, discounted at 10%, of $261 million. In summary total estimated probable and possible reserves for the natural gas case is 177 Bcf of gas (30 million boe) with a net present value of $494 million. If Tigris is an oil accumulation, Ryder Scott determined the possible reserves net to Emerald after applying the terms of the production sharing contract is 19.4 million bbl of oil having a net present value, discounted at 10%, of $452 million. Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas Ltd.

Emerald also spud Aureliano#1 in Colombia on 13 December with approx drill of 35 days also getting close now with approx 14 days to go



RNS Number:7512N
Emerald Energy PLC
12 December 2006


Emerald Energy Plc


13 December 2006


Colombia - Aureliano Well Spudded


Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that the
Aureliano 1 exploration well has been spud. The Aureliano prospect is in the
Fortuna Association Contract area in the Middle Magdalena Valley in Colombia.

The Aureliano 1 well is targeting a fractured limestone prospect in the same La
Luna formation, but across a fault from the Totumal field which produced 800,000
barrels from three vertical wells until the field was shut-in in the mid 1990's.
The well is planned to reach a measured depth of 8,600 feet and take
approximately 35 days to drill.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

"This is a significant step in the exploration of the Fortuna area. The
prospect, if successful, has the potential for a number of additional
development wells."

By my calcs we should be due an update on Aureliano in about two week, and Tigris the week after.
A wet Aureliano would certainly add steam to any Tigris run-up.

Your search string matches are marked in orange

from oil Barrel in news search

02.11.2006
Emerald Energy To Shoot 3D Seismic Ahead Of Drilling The Long-Awaited Gigante-2 Well In Q4 2007
This weeks news that Emerald Energy has awarded a contract for the acquisition of 3D seismic over the Gigante field in Colombia marks a return to a project that has played a key role in the companys history.

The Gigante field lies in the Upper Magdalene Valley and produces from a single well, Gigante-1A, at a rate of 900 barrels per day. The field has produced some 2.2 million barrels of oil since starting production back in 1999 and independent consultants reckon theres plenty more to play for, with proved, probable and possible reserves of 18 million barrels.

But this potential was difficult to see back in 2000 when a devastating well blowout destroyed the companys sole source of production and mired the company in debt and legal wrangles. A rescue rights issue and board clear-out in August 2003 got the company back on a firmer financial footing and the Gigante-1A well was rehabilitated and production stabilized, gradually climbing to 900 barrels per day of 32-degree API Oil.

Now the company, which today pumps more than 4,000 barrels per day from five fields in Colombia and is a 50/50 partner in a possible company-making exploration project in Syria, is moving ahead to exploit the untapped potential of the Gigante field. Seismic firm Compania Geofisica Latinoamericana is set to get to work on a 58 sq km 3D shoot, which should take around two months with processing taking a further four months. The data will be used to confirm Emeralds model of the field and help define a drilling location for the planned Gigante-2 well.

This well has been on the cards for more than six years. It was part of the companys original plans for the Gigante field but got shelved during the fall-out from the blowout. More recently, industry-wide equipment shortages have delayed work on Gigante-2, which will require a rig capable of drilling down to 16,000 feet. Emerald now anticipates drilling the well in the fourth quarter of 2007 at the earliest.

This allows plenty of time to complete discussions with state oil firm Ecopetrol, which has the right to participate in the well with a 50 per cent interest if the well is drilled as a development well inside the joint operations area. If Ecopetrol decides not to participate, then Emerald will proceed alone and will have the right to recover 200 per cent of the well costs from any future production. If the well is drilled outside the joint operations area as an exploration well, Emerald will pay 100 per cent of the costs, with Ecopetrol retaining the right to participate in 50 per cent of any future production and Emerald retaining the right to recover 50 per cent of its costs.

Emerald has been a long time player in Colombia, a country that has overcome fears about security issues and fiscal terms to become something of an E&P starter package for oil juniors. Emeralds investments have been followed by the likes of AIM-quoted Black Rock Oil & Gas, Chaco Resources and Global Energy Development. These companies are hoping to follow Emeralds lead (albeit without the production hiatus and financial mess of the Gigante saga) and gain low-cost entry to near-term development projects and low cost exploration, in order to get some all-important barrels on the balance sheet.

It has, at last, paid off for Emerald. Its Colombian business produced 3,677 bpd over the first six months on this year, up 45 per cent on the prior year period, with pre-tax profits up 66 per cent at US$5.4 million. Production is now running at 4,200 bpd from nine wells on five fields.

Despite now turning its attention to high impact drilling in Syria, where field sizes dwarf those on its Colombian acreage, there is still plenty to keep Emerald interested in this vast and relatively under-explored country. Later this month the company will drill the Aureliano-1 exploration well. The prospect lies next door to the Totumal oil field, which produced 800,000 barrels of oil from a Cretaceous limestone formation until it was shut-in by Ecopetrol in 1993. Emerald is mulling a possible re-entry of two of the existing Totumal wells to restart production from the field. And in September the company signed up to explore the 365 sq km Maranta block, which lies in the southwest of the country and to the northeast of the producing fields of the Putumayo basin.
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http://www.oilbarrel.com/home.html

TIGRIS
on the 7th December Tigris drill depth was 3435mtrs,and estimated the remaining
1065mtrs would take a further 45 days to drill and evaluate with wireline logs,
If the estimated days are correct the 45 days are up on Sunday 21st January,
So we are 9 days away from an announcement provide they are on schedule,But
there could be announcement during next week if they are ahead of the schedule.

Or a month later if they need time to collect/analyse the results. It seems highly likely they will be core sampling/wireline logging or what have you as they retreat from the total depth - this is a time consuming process. I'm not holding my breath until I see the RNS.

AURELIANO
On the 13 December Aureliano was spuded and estimated to take approximately 35 days to drill to the planned measured depth of 8,600 feet,Emerald have not mentioned evaluate and wireline log,the work period for evaluating wirelog may have to be added, The 35 days are up on monday 22nd January,So we are about 10 days approx away from news provide they are on schedule

October 2006
EMERALD ENERGY Plc

58 km 3D seismic program over Gigante field IN PROGRESS




------------------------------------------------------------------------------

Page 2
Colombia Gigante field background

History of well Gigante #1A

G#1A was drilled in 1998 and discovered oil in Tetuan reservoir

Well suffered a blowout in May 2000 and sustained damage to the near well bore during the well kill operations

Gigante #1A has produced over 2.2 million bbl of 31% API oil since 1999

Reserves* (gross 100%) and Reserve Life

Proven & Probable (2P) 7.6 mmbbl 33 years

Proven, Probable & Possible (3P) 17.8 mmbbl 78 years

*Reserves = Emerald estimate as at 30/06/2006, based on RPS reserves report adjusted for production **Reserve Life = reserves/annual production


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Page 3

Colombia - Potential of Gigante field

Opportunity of Tetuan formation

Current average production of G#1A is 800-900 bbl/day of 31% API oil from 23 ft net thickness of reservoir.

Initial production rates for G#1A after fracture stimulation in 1999/2000 (i.e. preblowout) of up to 4,000 bopd

Additional wells will increase field production rate and overall recovery of reserves during term of Matambo Association Contract

Exploration Upside of Caballos formation
Re-test deeper Caballos reservoir - 3 bbl of oil was recovered during DST (1998)
Potential of up to 180 ft of reservoir thickness

Emeralds estimate of resources are

P90 estimate - 11 mmbbl

P50 estimate - 15 mmbbl

P10 estimate - 22 mmbbl


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Page 4

Colombia Gigante #2 relative to Gigante #1A


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Page 5

Colombia Gigante #1A electric wireline logs Tetuan (current producing zone) Caballos

DST 1

203 bbl water

DST 2

58 bbl water 3 bbl oil

DST 3

2,260 bopd oil


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Page 6

The 3D seismic dataset will be used to:

1. improve structural interpretation of Gigante field

2. selection of drilling locations for future development wells

Colombia Gigante 58km 3D seismic program


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Page 7

Colombia Proposed activities for Gigante #2

2006 Activities

Acquire 58km 3D seismic Q4 2006 (in progress)

2007 Activities

Process & interpret 3D seismic select drilling location

Decision milestone based on 3D interpretation, rig availability and funding (see page 11)

Order long lead time items (casing, well head, etc)

Contract suitable drilling rig

Mobilise rig

Spud well, commence drilling to 16,000ft Production Facilities

Put Gigante #2 on production using facilities at Gigante #1A


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Page 8

Colombia - Gigante #1A well and field processing facilities


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Page 9

Colombia - Gigante field loading facilities


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Page10

Colombia Commercial terms of Matambo Association Contract

Emerald will pay 100% of the drilling costs for Gigante #2

If, after drilling Gigante #2, Ecopetrol declares commercial status

Ecopetrol backs in for 50% working interest in the discovery

Ecopetrol receives 50% of the production after royalties and pays 50% of all
future costs

Emerald entitled to recover Ecopetrols 50% share of exploration costs, including 3D seismic costs

Reimbursement of 50% of Emeralds drilling costs of Gigante #2 will be available to fund future development drilling of Gigante field.


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Page 11

Colombia Drilling Gigante #2

Investment case Gigante #2 has potential to:

Substantially increase production from Gigante field

Produce more 31 % API oil with higher sales value

Recover 4 mmbbl from Tetuan, equivalent to buying producing reserves at $6/bbl

Discover new reserves in the lower Caballos with finding costs of between $1 to $2 per bbl

Financing options for Gigante #2, estimated cost of up to $25m

Raise additional funds through issue of new shares

Seek farmin partner to finance all or part of drilling costs

Debt

All options being explored by management

http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf

The reserves in the PDF refers to drainage area of oil Giante#1a in contact with.
http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf


from 1998 RNS see link bottom of post
Giante#1a estimated drainage area of 2.6 square kilometres,Emerald have calculated that assuming uniform reservoir characteristics within the Tetuan Formation this would give between 400 million and 580 million barrels of oil in place within the estimated 30 square kilometres of the Gigante structure

From website
The Gigante field has been defined as an area around Gigante #1A well with a radius of 733m
http://www.emeraldenergy.com/OnP-Matambo_Gigante.htm


The field now believed to be a lot larger than the 30kilometers square the old Management believed the Gigante structure to be, hence the 58kilometers 3D seismic program Emerald have in progress,and the 3D seismic almost twice the size of the 30kilometers the old management said,so how many million barrels
far far far more than the P90,P50, P10,Emerald showing in the PDF


for the following see link at bottom of post

GIGANTE POTENTIAL DOUBLES Emerald Energy Plc, the UK based oil exploration company, with the bulk of its exploration activities in South America, announces that independent consulting engineers, Blackwatch Petroleum Services Limited have advised the Company that, based on their analysis of the latest pressure and production data from the Gigante 1A well in the Upper Magdalena Valley in Colombia, that this well alone is in contact with between 35 million and 50 million barrels of oil in an estimated drainage area of 2.6 square kilometres.
http://www.emeraldenergy.com/EmeraldEnergyPlc-58km2_3D_seismic_programme_Gigante_field.pdf

Emerald have calculated that assuming uniform reservoir characteristics within the Tetuan Formation this would give between 400 million and 580 million barrels of oil in place within the estimated 30 square kilometres of the Gigante structure. This represents a significant increase over the Company's earlier estimate in August, of 200 million barrels of oil in place.
http://www.advfn.com/p.php?pid=nmona&cb=1168784899&article=992694&symbol=L%5EEEN

Re Aureliano, I may not be a mathematical genius, but I make the 35 days up tomorrow (Wednesday).

I also make Tigris target date Sunday, so possible announcement Monday, the RNS said that the 45 days would include testing and analysis.

AndyH78

sorry I allowed Dec24,25,26, 31, Jan1 OFF for Colombia but did not explain in post
and straight through for Syria but Syria now early Feb as per Jan 07 presentation PDF on GPX website.