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

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.'

Emerald Energy Update


RNS Number:9052R
Emerald Energy PLC
27 February 2007


Emerald Energy Plc


27 February 2007


Centauro Sur Reserves


Emerald Energy Plc ("Emerald" or the "Company") would like to provide the
following update on the Centauro Sur field in the Campo Rico Association
Contract area in the Llanos basin in Colombia.

RPS Energy has completed an independent reserves evaluation of the Centauro Sur
field using standard petroleum engineering techniques combining geological and
production data with reservoir fluid characteristics and pressure information.
Their reserve and resource estimates are based on the joint reserve definitions
of the Society of Petroleum Engineers, the World Petroleum Congress and the
American Association of Petroleum Geologists, which are widely used in the
petroleum industry.

The Proved plus Probable ultimate oil recovery of the field has been estimated
at 694 thousand barrels. The Proved plus Probable plus Possible ultimate oil
recovery of the field has been estimated at 964 thousand barrels.

The Centauro Sur field was discovered in April 2006 with the Centauro Sur No.1
well, which was put on production by the end of April 2006. A second well,
Centauro Sur No.2, was drilled and commenced production in July 2006. The two
wells currently have a combined oil production rate of about 700 bopd.

A flow line has been installed between the Centauro Sur field and the Campo Rico
field production facilities so that the fluids may be gathered and processed
cost-effectively using the existing facilities.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

"We are very pleased to have been able to use our experience in the Campo Rico
block to discover additional reserves and develop them effectively using the
existing production facilities. The Centauro Sur field is our third field
discovery in this block and we are continuing to identify additional
opportunities within the block."

Three oil fields that have produced from the Lisama sands lie just to the south of the Fortuna block.
The first Lisama prospect.
Silfide #1, has been drilled and discovered hydrocarbons in the Umir formation. On initial testing 38 bbls of 16.2 degrees API oil was recovered during swabbing operations. Analysis of seismic.
drilling and logging data indicates that Silfide #1 has penetrated a secondary target and not the primary main Lisama sands.
Silfide #1 well is currently shut-in while a hydraulic fracture stimulation operation is being prepared.
Emerald has applied to Ecopetrol for commercial status for development of the Silfide field; a decision is expected after the hydraulic fracture stimulation operation
Edit
Silfide #1 produced over 2000 barrels of oil since being drilled in 2005 and waiting decision on the fracture stimulation.
dyor

The Aureliano No.1 well was drilled to its total depth of 8,745 ft in January 2007. The well is currently being flow tested to determine the potential of the Aureliano structure as a commercial development.
The initial testing is expected to be completed before the end of the first quarter 2007

Following drilling, the well is being production tested to determine the productivity of the reservoirs encountered.
The programme includes the use of natural flow, artificial lifting and stimulation to establish well flow rates.
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 return to Emeralds Llanos operations in the second quarter of 2007 and will resume drilling in the Campo Rico Block.
dyor

Emerald Energy PLC
19 March 2007


Emerald Energy Plc

19 March 2007

Jacaranda 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 in Colombia. The
Jacaranda Contract, in which Emerald has a 100% working interest, covers an area
of 235 sq. km and is located in foreland of the Llanos Basin, in Colombia, 130
km to the southwest of the Company's Campo Rico operations.

The initial phase of the exploration period is 12 months and the minimum work
programme comprises the acquisition of 40 km of new 2D seismic data, seismic
attribute processing of 25 km, and the re-processing of 25 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 6,000 ft.

The Jacaranda 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 fourth ANH E&P Contract in Colombia.
Over the next year we will acquire and interpret data in these new areas to
define a portfolio of drillable prospects for future growth.'


Enquiries: Helen Manning 020 7925 2440

Emerald Energy PLC
28 March 2007


Emerald Energy Plc


28 March 2007


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 is drilling ahead at a depth 2,450
metres. The Khurbet East prospect is a fault-bound structural culmination, with
closure mapped at several potential reservoir levels including Cretaceous,
Triassic and Palaeozoic ages.


Hydrocarbon shows were encountered while drilling the Tertiary Chilou and
Cretaceous Massive formations. A core was cut in the Chilou formation and
wireline logs were run over both sections. The wireline logs indicated a gross
hydrocarbon interval of 31 metres and a net hydrocarbon interval of
approximately 22.5 metres in the Massive formation with some additional
potential in the Chilou formation that requires further evaluation. The presence
of hydrocarbon in the Massive formation was confirmed by a wireline formation
pressure sampler which recorded a hydrocarbon gradient over the interval and
retrieved a sample of 21 degree API gravity oil to surface. The wireline
formation pressure sampler was not run in the Chilou formation as the tools
available were not suitable for large diameter well bores.


Drilling is now planned to continue to the total drilling depth of approximately
3,700 metres to evaluate the other prospective intervals.



Emeralds' Chief Executive Officer, Angus MacAskill, said:


'We are very pleased to have encountered hydrocarbon in the shallow prospective
section of the Khurbet East No.1 exploration well and look forward to a full
evaluation of the well after drilling to the Triassic and Palaeozoic prospective
sections.'



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



Enquiries: Helen Manning 020 7925 2440

A little more info in the GPX RNS

Gulfsands Petroleum PLC
28 March 2007

Drilling Update - Khurbet East Well, Syria



London, 28th March, 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 provide the following update on the Khurbet East ('
KHE-1') exploration well in Syria Block 26, where Gulfsands is operator and
owner of 50% interest.



The KHE 1 well commenced drilling in mid February and is scheduled to take 100
days to drill and evaluate to a planned total depth of approximately 3,700
metres.



The Khurbet East prospect is a fault-bound structural culmination, with closure
mapped at multiple potential reservoir levels. The well is located
approximately 12 kilometres southwest of the Souedieh Oil Field and 12
kilometres south of the Roumelan Oil Field.



Currently, drilling is on schedule at a depth of 2450 metres.



Cretaceous Massive Formation



The top of the Cretaceous Massive Formation was encountered at 1,917 metres and
a series of drilling breaks and live oil shows were observed. The Company
continued drilling to a depth of 2,203 metres and then made a decision to run
intermediate wireline logs as well as wireline pressure testing and fluid
recovery.



Independent wireline log analysis of the Massive interval indicates a gross oil
column of some 31 metres with approximately 22.5 metres of net oil pay. The
wireline pressure measurements also recorded an oil gradient across the
interval. An oil sample was obtained and had a measured API gravity of 21
degrees at surface conditions. PVT analyses of the oil samples are currently
being undertaken.



Chilou Formation



Prior to drilling the Massive Formation the Company drilled through the Tertiary
aged Chilou 'B' Formation, which was encountered below 1319 metres. After
encountering oil shows and drilling breaks that indicated potential reservoirs,
the Company successfully acquired approximately 8.5 meters of whole core from
within the Chilou 'B' Formation. Routine core analyses, including oil
extractions and porosity and permeability measurements, are underway. Wireline
logs were also acquired over this reservoir interval but due to the large hole
size required in this early portion of the wellbore it was not feasible to run
pressure tests or fluid recovery.



Independent wireline log analysis of the Chilou intervals indicates some 26.4
metres of net oil pay of which some 19 metres are contiguous in the top of the
Chilou 'B' formation. These net oil pay figures, the quality and moveability of
the oil will have to be confirmed with later testing.



Following wireline logging, 13 3/8' casing was set over the Chilou intervals to
a depth of approximately 1904 metres and the Company continued drilling ahead to
the Massive Formation as noted above.



The Company has resumed drilling ahead in this well in order to evaluate the
underlying Triassic and Palaeozoic Formations.




Gulfsands' CEO, John Dorrier, said:



'We are encouraged by the results to date in the Massive and Chilou Formations.
We look forward to reaching our deeper objectives in the Triassic and the
Palaeozoic Formations. However, only after penetrating these further objectives
and reaching target depth will we conduct production testing operations. The
ultimate commerciality of the hydrocarbons encountered at Khurbet East can only
be determined after further work including production testing and appraisal
drilling.'



NB: This release has been approved by Jason Oden, Gulfsands Exploration Manager,
who has a Bachelor of Science degree in Geophysics with 22 years of experience
in petroleum exploration and management and is registered as a Professional
Geophysicist. Mr. Oden has consented to the inclusion of the material in the
form and context in which it appears.



Certain statements included herein constitute 'forward-looking statements'
within the meaning of applicable securities legislation. These forward-looking
statements are based on certain assumptions by Gulfsands and as such are not a
guarantee of future performance. Actual results could differ materially from
those expressed or implied in such forward-looking statements due to factors
such as general economic and market conditions, increased costs of production or
a decline in oil and gas prices. Gulfsands is under no obligation to update or
revise any forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by applicable laws.



For further information including the Company's recent investor presentation,
please refer to the Company's website http://www.gulfsands.net/ or contact:

Gulfsands, Emerald encounter hydrocarbons in early drilling at Syrian well
AFX


LONDON (AFX) - Gulfsands Petroleum PLC and Emerald Energy PLC said they have encountered hydrocarbons during early drilling at their Khurbet East exploration well in Syria.

The well is on schedule and drilling will continue to evaluate the underlying areas.

'The ultimate commerciality of the hydrocarbons encountered at Khurbet East can only be determined after further work including production testing and appraisal drilling,' said Gulfsands chief executive John Dorrier.

Gulfsands and Emerald own a 50 pct interest each in the block which contains the well, and Gulfsands is the operator.

The AIM-quoted company operates a large tract of acreage in the north of the country on behalf of 50/50 partner Emerald Energy.


http://www.oilbarrel.com/home.html

Encouraging Results From The Syrian Desert For Gulfsands Petroleum

At last some good news from Syria for Gulfsands Petroleum. The AIM-quoted company operates a large tract of acreage in the north of the country on behalf of 50/50 partner Emerald Energy. This is a proven oil province - the 11,000 sq km block is home to fields that are producing over 120,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Co (SPC) - but to date the partners exploration efforts on Block 26 have been disappointing.

Gulfsands holds the exploration rights to the deep (Palaeozoic) reservoirs under existing fields and rights to all reservoirs outside the existing fields. There were high hopes for the current four-well drilling programme on the block but the first well, Souedieh North-1, failed to recover moveable hydrocarbons during wireline testing. Then last month the results of the Tigris-1 well were deemed inconclusive, which the market read to mean dry and shares in both Gulfsands and Emerald sank accordingly.

Now things are picking up. The US$7.2 million Khurbet East-1 exploration well, some 12 km southwest of SPCs producing Souedieh oilfield, was spudded in mid-February and is aiming for a total depth of 3,700 metres. There are multiple zones of interest and, importantly, the joint venture partners have rights to all these levels, including the Cretaceous and Triassic age reservoirs, which are productive in the surrounding fields, as well as the deeper, untested Palaeozoic.

Preliminary results are encouraging. Oil shows were found in the Chilou Formation, encountered below 1,319 metres, and core samples are now being analysed. Wireline logs point to 26.4 metres of net oil pay. As the well went deeper, wireline testing of the Cretaceous Massive Formation, encountered between 1,917 and 2,203 metres, indicated a gross oil column of some 31 metres with 22.5 metres of net oil pay. This oil was heavy, at 21 degrees API. The well then continued drilling ahead to test the deeper Triassic and Palaeozoic Formations and is currently 2,500 metres down.

This is promising stuff. If these two zones produce decent flow rates of oil then this field will prove to be commercial, the companys broker Teather & Greenwood said, pointing out that the proximity to existing producing fields will reduce the development costs in the event of a commercial discovery. The brokers cautioned, however, that given the problems on Souedieh North and Tigris, the market will want to see that this well flows commercial quantities of oil before adding the full value to any discovery.

Its also important to remember that the story is by no means over at Tigris-1. The well was drilled to a total depth of 4,500 metres. The lower portions of the well appeared to hold substantial hydrocarbon-bearing pay but pressure tests indicated low permeability reservoirs. Gulfsands has set a 7-inch production liner to total depth with a view to future production testing (although it will be going solo on this project as Emerald has declined to cough up additional cash for what it obviously judges to be a dry hole).

Gulfsands believes the log results merit further investigation, particularly as the additional costs of setting the liner come to about 5 per cent of the US$8 million spent drilling the well to date. The production test is expected to take place in June.

A fourth commitment well is planned for the block in July. This may well be an appraisal of Khurbet East or another exploration well testing the Maghlouja prospect, which again has multiple reservoir targets. Maghlouja was drilled previously by Unocal in 1990, recovering a small quantity of 50-degree API oil. But it seems likely the company will opt for an appraisal of Khurbet East, keen to assess its reserve potential and de-risk a number of look-alike prospects elsewhere on the block. It should be an interesting summer for Gulfsands investors

From Oil Barrel

19.02.2007
Disappointment For Gulfsands And Emerald Energy In Syria
Investors in Gulfsands Petroleum and its 50/50 partner Emerald Energy were dealt a blow last week when the results of the Tigris-1 well in Syria were deemed inconclusive. The market read inconclusive to mean dry and shares in both companies sank accordingly.

Tigris-1 was the partners second well on Block 26 in northern Syria, a vast tranche of acreage equivalent in size to 50 North Sea blocks. The 11,000 sq km block lies in a proven oil and gas province: the block itself is home to fields that are producing over 120,000 barrels of oil per day for the state oil firm, the Syrian Petroleum Co (SPC). There are numerous significant hydrocarbon accumulations here, mainly within the shallower Cretaceous reservoirs, totalling some 3 billion barrels of recoverable oil. The partners have the rights to the deep (Palaeozoic) reservoirs under existing fields and rights to all reservoirs outside the existing fields.

The partners first well on the block, Souedieh North-1, failed to recover moveable hydrocarbons during wireline testing. This disappointment was deemed to have no bearing on the prospectivity of the Tigris structure, which carried a pre-drill estimate of more than 4 trillion cubic feet of gas.

Tigris-1 was drilled to a total depth of 4,500 metres and while the lower portions of the well appeared to hold substantial hydrocarbon-bearing pay, pressure tests indicated low permeability reservoirs. With rig time tight, the company will relinquish the rig without testing the well.

That is not the end of Tigris-1, however. Gulfsands believes the well merits further investigation further and is setting a 7-inch production liner to total depth with a view to future production testing (using a cheaper workover rig). Emerald, however, has declined to participate in this next exploratory stage, unwilling to cough up additional cash for what it obviously judges to be a dry hole.

Gulfsands, however, is unwilling to give up, particularly as the additional costs of setting the liner come to about 5 per cent of the US$8 million spent drilling the well to date. In light of the log results which indicate hydrocarbon potential in the wellbore, it would be imprudent to do otherwise, the company said in a statement, adding that fracture stimulation may help overcome the low permeability. It may also be an option to deepen the well.

But there are no guarantees this well will ever produce at a commercial rate. Analysts at brokers Kepler Teather & Greenwood Merrion said Gulfsands decision was pragmatic but noted that even if commercial flow rates are achieved, we believe the indications would suggest that the gross reserves potential will not be as large as it appears in the Ryder Scott report, which had two options for this prospect.

Those reserve estimates included a probable reserve number for a mainly gas accumulation of 442 bcf with a total probable, possible and prospective resource of 4.3 tcf of gas. For a mainly oil accumulation, Ryder Scott reckoned there could be 104 million barrels of oil and 64 bcf of gas (possible) with a further 408 million barrels and 245 bcf as a prospective resource.

Gulfsands has described Emeralds decision not to participate as premature, adding that the balance of risk and reward is entirely in favour of incurring the modest additional expenditure required to set the liner. But given that Emerald can back into the Tigris-1 project at any time, as long it reimburses the operator and pays a back-in penalty, this would appear a sensible option for the London-listed firm.

There are two remaining commitment wells on Block 26. This month will see the spudding of the Khurbet East prospect, a fault-bound structural culmination with multiple potential reservoir levels including Cretaceous, Triassic and Palaeozoic ages. It will take about 100 days to drill and evaluate the 3,700 metre-deep well, which is targeting a possible 100 million barrel prospect. The fourth well is expected to spud in mid-July.

http://www.oilbarrel.com/news/article.html?body=1&key=oilbarrel_en:1171850406&feed=oilbarrel_en

From Oil Barrel
Gulfsands Presentation

23/2/07

But just as the Heritage story was all about Uganda, Gulfsands story at the moment is all about Syria. Block 26 produces about 120,000 bpd but, as chief executive John Dorrier wryly acknowledged, his company doesnt have any call on this production. Instead it holds the deep exploration rights on the block, which covers a vast tract of acreage in the northeast of the country and could have the potential to unearth reserves of around one billion barrels. This is promising stuff, right in the heart of a proven producing area with a network of infrastructure crossing the block.

A balance of risk and reward: Gulfsands John Dorrier addresses the delegates

But early results have been disappointing. The first well was dry and the second, Tigris-1, has been inconclusive. Gulfsands partner Emerald Energy has elected not to participate in the production testing of the Tigris well but Dorrier said it was a no brainer to him: the additional cost of testing the well and working out whats down there is only 5 per cent of the total well cost. This production test is now scheduled for June.

Two further exploratory wells are on the books for 2007. The company will now drill the Khurbet East exploration well, about 15 km southwest of Tigris. This is a smaller prospect, with a mean reserve estimate of 77 million barrels. Gulfsands owns all the rights at all levels in this well, including the proven productive reservoirs on the block.

In late August the company may then decide to either drill an appraisal of Tigris or Khurbet East or another exploration well testing the Maghlouja prospect, which again has multiple reservoir targets. Maghlouja was drilled previously by Unocal in 1990, who recovered a small amount of 50-degree API oil, said Dorrier, adding that frac stimulation, a technique not previously used in Syria, could get this reservoir to flow at a commercial rate.

Dorrier also expanded on the companys plans to get involved in gas and energy infrastructure projects in Syria, where he sees potential for the country to become a transportation portal for Iraqi crude. Gulfsands also has an MoU for a gas gathering project in Southern Iraq and is eying other opportunities in that troubled country. These will be projects for the long term: for now investors are more interested in the companys high impact exploration plans in Syria

http://www.oilbarrel.com/feature/article.html?body=1&key=oilbarrel_features_en:1172243657&feed=oilbarrel_en

From profit to loss...


EMERALD ENERGY Plc
4 April 2007

Final results

EMERALD ENERGY Plc ('Emerald' or the 'Company'), a United Kingdom based company engaged in exploration and production of hydrocarbons in South America and the Middle East, announces its final results for the year ended 31 December 2006.


Highlights for 2006

Gross production in 2006 from Emerald's operations totalled 1.3 million
barrels, 11% higher than in 2005;

Average daily gross production for the period was 3,673 bopd compared
with 3,301 for 2005;

Emerald was awarded two new E&P Contracts by the ANH for the Maranta and
Ombu blocks in Colombia;

During 2006 Emerald participated in the drilling of five exploration and
two development wells, resulting in one new discovery and two new wells on
production;

The Group generated an EBITDA of $25.1 million in 2006, an increase of
47% over 2005 results.

After write-offs of unsuccessful exploration efforts of $9.5 million, an
impairment charge of $5.9 million and tax charges of $4.5 million, the Group
made a loss of $2.7 million, compared to a profit after tax of $5.8 million
achieved in 2005.

Since the beginning of 2007 Emerald has been awarded E&P contracts by the ANH
for the Helen and Jacaranda blocks in Colombia, and Emerald currently has ten
production wells on five fields producing 3,800 bopd from its Colombian
operations.

Drilling commenced on Khurbet East No. 1, the Company's third exploration well
on Block 26, Syria on 15 February 2007 and has encountered two prospective
horizons with oil samples having been recovered from the lower Massive
formation. The well is currently drilling ahead below 2,450 m to a planned total
depth of 3,700 m.

Emerald have $15.7mil cash in bank

producing 3,800bopd

Still waiting for production testing result for Aureliano No. 1

The Aureliano No. 1 well was drilled to a total measured depth
of 8,745 feet in January 2007 and targeted the same La Luna limestone that
produced in the Totumal field. The target formations were encountered as
forecast and electric wireline logs indicated the presence of potential
hydrocarbon-bearing zones. The well is currently being production tested. A
detailed study of all the data acquired during the drilling and testing of the
well is being undertaken to determine the potential for further development
drilling of the Aureliano accumulation

Khurbet East No. 1

While drilling Khurbet East No. 1, hydrocarbon shows were encountered in the
Tertiary Chilou and Cretaceous Massive formations. Wireline logs indicated a
gross hydrocarbon interval of 31 metres and a net hydrocarbon interval of
approximately 22.5 metres in the Massive formation with some additional
potential in the Chilou formation. A wireline formation pressure sampler
confirmed the presence of hydrocarbon in the Massive formation and retrieved a
sample of 21 degree API gravity oil to surface. Drilling is continuing to the
total drilling depth of 3,700 metres to evaluate the remaining prospective
intervals

we must be talking about a minimum of 5 potential reservoirs:

Chilou
Massive
Triassic
Palaeozoic 1
Palaeozoic 2


Triassic zones of interest could include both the Upper Triassic Butmah and Lower Triassic Dolomite zones. Both have flowed oil and gas from within the block. So perhaps six reservoirs

but as always do your own research