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

What 2 pieces of news within a week, we are being spoilt.Seriously todays
news is most encouraging for us long termers, if the expected news regarding Tigris is as positive as todays then we'll have some real vertical?
cyril

niceonecyril

hopefully it's a producer they have encountered reservoirs and there must be a good chance of flowing oil.

Good update for me, slightly disapointing second half production but current production well above 7,000 bopd.

A little more detail on the progress of Tigris would have been nice though.

But good to see further Colombian contracts added.

AndyH78

Giante#1A 1050bopd
Campo Rico #1#2#3 combine 1,300bopd
Vigia#1#2#3 combine 550bopd
Centauro#1#2 combine 700bopd

second half of 2006 total 3,600bopd

Aha, misread the RNS, thats what you get for trying to access MoneyAm on your mobile, I double the counted the 3,600.

Thats why the share price hasn't done anything then.........

niceonecyril,AndyH78

Saxon Rig223 will not be returning to Fortuna Block

Emerald will source local RIG at Aureliano if determined to be COMMERCIAL

In Colombia the Company is evaluating the Aureliano structure and if determined
to be commercial will source a local drilling rig to commence an appraisal and
development drilling programme.

The Saxon Rig 223 will proceed with Emerald's exploration and development drilling schedule.

The Saxon Rig 223 will return to Emerald's Llanos operations in the second quarter of 2007 and will resume drilling in the Campo Rico Block.

The Saxon Rig 223 will proceed with Emerald's exploration and development drilling schedule.

The Saxon Rig 223 is now on loan,And is expected return to Emerald in the second quarter of the year and proceed with Emerald's exploration and development drilling schedule,which includes the drilling of Campo Rico No. 4 well in the Campo Rico field.

Emerald Energy says H2 daily gross production 3,663 bopd vs 3,677 bopd in H1
AFX


LONDON (AFX) - Emerald Energy said that its daily gross production in the second half of 2006 was 3,663 barrels of oil per day, down from 3,677 bopd in the first half.

In an operations update, the firm said production in the second half had been affected by the failure of an electric submersible pump in the Gigante No1A well and a subsequent two week shut-in.

Looking ahead at its Colombia ops, the company said it is evaluating the Aureliano structure and, if determined to be commercial, will source a drilling rig to begin an appraisal.

The Saxon Rig 223 is due to return to Emerald's Llanos operations in the second quarter of 2007 and will resume drilling in the Campo Rico Block, while seismic acquired over the Gigante structure is being processed and will be used to finalise the drilling plans for the Gigante No2 development well, it said.

Emerald added that it continues to identify prospective acreage in Colombia to be explored, as well as 'growth opportunities' in other geographical areas.

In Syria, meanwhile, the company said it is committed to drilling at least two more exploration wells before August 2007, when the initial exploration phase for Block 26 ends.

Angus MacAskill, Emerald's chief executive, said: '2007 will be an exciting year for Emerald starting with the results of Tigris and Aureliano exploration wells expected in the first quarter, development activities in Campo Rico and Gigante in Colombia, two further exploration wells in Syria and the advancing of exploration activity in Colombia.'

Andyh78

yes

but good news that Giante#1 now producing 1,050bopd @ $50 = $52,500 a day.

Current production even lower at 3,600 bopd - what do you mean good news about Gigante?!?!

Terrible RNS saying nothing that gives any comfort as to why production is worse than stagnant, nothing new has gone into production for god knows how long, and very ambivolent use of the word "exciting" about two wells that should have been drilled and tested by now enough to say whether there is oil there or not.


Heaven save us from the bad news, DFGO, when it comes.

DFGO;
Tend to agree with stockdog,so many promises regarding production,with
no increase leaves us vunerable to any bad news. A positive result from Tigris, is
a must now.
With about 100 mtrs to go it can't be long now.
cyril

Better news today on Syria update with drilling of Khurbet East mid Feb

Yep the third and fourth wells to be drilled within a few month.
Even if Tigris is dry, the odds are they'll hit a fairly big one before long.
SP should be substantially higher by end of the year.

stockdog
In 2005 giante average 676bopd.

The good news about Giante.

1.Giante produces 32 degree API oil.

2.And gets WTI price per barrel

3.The Giante average 627bopd in first six months of 2006, Althrough being shut down for workover, and fitting new casing,ESP,etc.

4. The first 6 months = 181 days x daily average 627bopd = 113,487barrells @ $50 x = $5,674,350

5.End Sept 2006 Giante daily average of 891bopd a 24.13% increase over 2005 and
a 30.37% over 1st half 2006

6.9 month production = 273 days x daily average of 891bopd = 243,243 @ $50 =
$12,162,150

I have done workings @ $50 but WTI oil price not been that low this year,And in H1
a lot higher.

Still looking for 50p - getting closer all the time.

Still over-vauled

Was expecting to hear your 50p haystack - too predictable! No reasonings and no useful comments.

I have held Emerald Energy a number of times over the last ten years or so. I ended up with a small loss overall but only by luck. They seem to be able to find bad exploration sites time and time again.

Emerald Energy PLC
19 February 2007


Emerald Energy Plc


Drilling Update: Khurbet East No.1, Block 26, Syria


Emerald Energy Plc ('Emerald' or the 'Company') would like to provide the
following update on activities in Block 26, Syria.


The Khurbet East No.1 exploration well has been spud by the Crosco 602 rig. The
Khurbet East prospect is a fault-bound structural culmination, with closure
mapped at several potential reservoir levels including Cretaceous, Triassic and
Palaeozoic ages. The Block 26 partners have exploration rights in all reservoir
levels in this prospect.


The Khurbet East prospect is located approximately 12 kilometres southwest of
the Souedieh Oil Field and 12 kilometres south of the Roumelan Oil Field.


The total drilling depth of the Khurbet East No.1 well is expected to be 3,700
meters and will require approximately 100 days to drill and evaluate.


The fourth commitment well in the block is planned to be drilled by the MB3
drilling rig when it returns from drilling wells for the rig-share partner. The
rig is expected to return around July 2007.



Emeralds' Chief Executive Officer, Angus MacAskill, said:


'We are pleased to be progressing with the exploration activity in Block 26 and
look forward to the outcome of the Khurbet East No.1 exploration well.'



Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG
Overseas Ltd.



Enquiries: Helen Manning 020 7925 2440


19 February 2007

Gulfsands Petroleum PLC
19 February 2007

Khurbet East Well Commences in Syria



London, 19th February, 2007: Gulfsands Petroleum plc (AIM: GPX), the oil and
gas production, exploration and development company with activities in the
U.S.A., Syria and Iraq is pleased to announce that the Company has commenced
drilling the Khurbet East ('KHE 1') exploration well within Block 26, Syria.



Gulfsands, the operator and 50% working interest owner in Block 26, Syria, has
commenced the drilling of the KHE 1 exploration well located in the northeast
region of Block 26. The KHE 1 prospect is a fault-bound structural culmination,
with closure mapped at multiple potential reservoir levels. These include
reservoirs of Cretaceous, Triassic and Palaeozoic age. The well is located
approximately 12 kilometers southwest of the Souedieh Oil Field and 12
kilometers south of the Roumelan Oil Field. The total drilling depth of the KHE
1 well is expected to be approximately 3,700 metres and will require
approximately 100 days to drill and evaluate at an estimated cost of $7.2
million, or $3.6 million net to Gulfsands.



After drilling the KHE 1 well, the Company is planning to drill its fourth '
commitment well' on Block 26 following the return to Gulfsands of the high
powered rig used for drilling the Tigris-1 well, which is anticipated to occur
around July 2007.





Gulfsands' CEO, John Dorrier, said:



'The Company's PSC conveys rights to all depths in the Khurbet East area, so the
prospect has potential in multiple zones including the proven productive
reservoirs of Cretaceous and Triassic age in the fields just north and east of
the prospect location, as well as potential reservoirs in the Palaeozoic. In
the event of an oil or gas discovery at Khurbet East, commercialisation would be
relatively straightforward through production infrastructure located only 12
kilometers away near Roumelan Field.'