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

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

From Emerald Energy website
April 2007 PDF link at bottom of page.

Page 9
Colombia Current Operations

Production & Development
2007 1st quarter gross production of 3,508 bopd (Q4 2006 3,586 bopd)
End-March production 3,800 bopd
Aureliano #1 well test in progress
Mobilising rig to drill Campo Rico #4 development well (Page 10)
3D interpretation over Gigante field G#2 well decision Q2 2007 (Page 11)

Page 10
Exploration upside
Focusing exploration activity on new ANH contracts (Page 12)
Awarded 4 new E&P contracts by ANH (Pages 14 17)
Drillable prospects identified in existing Campo Rico Association Contract
area

Colombia Plans - Campo Rico #4 Well

Step-out well
Location based on 3D seismic
Drilling time ~45 days
Spud April
Developing existing reserves
Ecopetrol 50% participation

Page 21
Syria: Khurbet East #1 Progress
Chilou (Tertiary)
Good hydrocarbon shows, core cut,
logs run
No oil samples attempted due to hole
size
Massive (Cretaceous)
Good hydrocarbon shows, logs run
22.5m net pay, good porosity, low
water saturation
Oil samples recovered
21 API oil
Drilling to further prospective horizons
Development outlook
Need production test and appraisal
Cretaceous - shallow, low cost wells
Close to infrastructure


http://www.emeraldenergy.com/documents/EEN2006ResultsandUpdateApril2007.pdf

Emerald Energy PLC
18 May 2007


Emerald Energy Plc

FOR RELEASE 18 May 2007

Operations Review and Update

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following operations update prior to the Annual General Meeting on 18th May:

Colombia - Exploration and Development

Since September 2006 the Company has been awarded four exploration and
production contracts (Maranta, Ombu, Helen and Jacaranda) by the National
Hydrocarbon Agency of Colombia ('ANH'). Exploration activities are now focused
on these four new areas as prospectivity has been identified on each and the ANH
contracts include improved fiscal terms. Seismic acquisition is planned to
commence during the third quarter of 2007 prior to potential drilling activity
in 2008.

Drilling of the Aureliano No. 1 exploration well on the Fortuna block was
completed in late January, with the target La Luna limestone formations being
encountered as forecast. An extended phase of production testing has been
conducted, including the use of a workover rig for perforation and acid
stimulation. Following these operations, a flow rate of 10 bopd of 25 degree API
gravity oil has been established. The recovery of oil confirms the presence of
hydrocarbons but the low flow rate indicates that communication with a fracture
network has not been established. A detailed study of the data acquired during
the drilling and testing of the well is being undertaken to determine the future
potential of the well and the Aureliano accumulation.

A re-entry programme for two wells in the abandoned Totumal field to the south
of Aureliano is being prepared, with the aim of determining the potential to
recommence production from the field. The Totumal field produced 0.8 million
barrels from the La Luna formations prior to abandonment in 1993. It is
anticipated that data from these re-entries will also assist in the
interpretation of information from the Aureliano No.1 well.

A fracture stimulation was conducted in May 2007 on the Silfide No.1 well in the
Fortuna block. The well had been shut-in since the middle of 2006 due to a
mechanical failure of the down hole pump. The well is cleaning up after the
operation and a flow rate of 35 bopd, a modest increase over the pre-workover
rate, has been established.

The Campo Rico No.4 development well commenced drilling in April 2007 in the
Campo Rico field. The well is located to recover reserves from the Mirador
formation in the north of the field that would not be recovered by the existing
3 producing wells. The Campo Rico No.4 well was drilled to a depth of 10,880 ft
and logged hydrocarbon in the Mirador formation. The drilling rig has been
demobilised from the location and a workover rig is being mobilised for
completion operations. A pipeline is being constructed between the surface
location of the well and the Campo Rico field production facilities. First
production from the Campo Rico No.4 well is planned to take place prior to the
end of June 2007. Under the commerciality status granted by Ecopetrol for the
Campo Rico field development, the drilling and pipeline costs are shared with
Ecopetrol on a 50/50 basis, as is future production from the well.

The Centauro Sur field development was awarded commerciality status by Ecopetrol
in May 2007 and joint operations commenced. The reimbursable costs on this field
have been recovered and future costs and production for this field are now
shared with Ecopetrol on a 50/50 basis.


Colombia - Production

Daily gross production for the first quarter of 2007 averaged 3,508 bopd,
compared to 3,586 bopd achieved in the fourth quarter of 2006. Production in
April 2007 averaged 3,821 bopd following a number of successful well
intervention operations during the first quarter.

In the Campo Rico field, a workover was conducted in the Campo Rico No.1 well to
replace the hydraulic jet pump with an electrical submersible pump, re-perforate
an existing producing zone and add perforations in a new zone, resulting in an
increased production rate of 160 bopd.

In the Vigia field, workovers were conducted in the Vigia No.1 and No.3 wells.
In the Vigia No.1 well, the Gacheta formation was isolated and the electrical
submersible pump was reconfigured to improve its performance and in the Vigia
No.3 well, the Une formation was isolated the Gacheta re-perforated. Production
from the field was increased by 210 bopd as a result of these workovers.


Syria, Block 26 - Exploration

The Khurbet East No.1 exploration well was spud in mid-February 2007 on the
Khurbet East prospect, a fault-bound structural culmination, with closure mapped
at several potential reservoir levels including Cretaceous, Triassic and
Palaeozoic ages. The Khurbet East prospect is located approximately 12
kilometres southwest of the Souedieh oil field and 12 kilometres south of the
Roumelan oil field.

Hydrocarbon shows were encountered while drilling 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. The presence of hydrocarbon in the Massive
formation was confirmed by a wireline formation sampler which retrieved a sample
of 21 degree API gravity oil to surface. Wireline logs indicated a potential net
hydrocarbon interval of approximately 26.4 metres in the Chilou formation of
which some 19 metres are contiguous in the top of the Chilou 'B' formation. A
wireline formation pressure sampler could not be run to confirm the presence of
hydrocarbon in the Chilou formation as the sampler tools available were not
suitable for large diameter well bores.

The well has reached a total drilling depth of 3,800 meters. Wireline logging
indicated additional potential hydrocarbon intervals in the Triassic formations.
Several intervals have been identified in the well for potential production
testing which is expected to commence shortly. However, there is a possibility
that the shallow zones may not be production tested in this well due to a
combination of the mechanical configuration of the shallow casing strings and
the rig availability which may require the Crosco 602 rig to be demobilised from
the Khurbet East No.1 location prior to testing all the intervals identified for
potential production testing. Any intervals not tested in this well may be
production tested at a later date using a workover rig.

Immediately after completing operations on Khurbet East No.1, the Crosco 602 rig
is planned to drill an appraisal well, Khurbet East No.2, on the Khurbet East
prospect, with the main objective of appraising and testing the potential
hydrocarbon accumulations in the Chilou and Massive formations. This well will
also complete the minimum work obligation for the initial exploration phase in
the block.


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

'We are very pleased with the enhanced production in Colombia following workover
activities, and look forward to additional production from the latest Campo Rico
development well. In exploration, we are very encouraged by progress with the
Khurbet East No.1 well in Syria and look forward to further activity both in
Syria and in the new contract areas in Colombia.'

Campo Rico#4 a PRODUCER

The Campo Rico No.4 development well commenced drilling in April 2007 in the
Campo Rico field. The well is located to recover reserves from the Mirador
formation in the north of the field that would not be recovered by the existing
3 producing wells.

A pipeline is being constructed between the surface
location of the well and the Campo Rico field production facilities.

Production from the Campo Rico No.4 well is planned to take place prior to the
end of June 2007.


The Campo Rico No.4 development well commenced drilling in April 2007 in the
Campo Rico field. The well is located to recover reserves from the Mirador
formation in the north of the field that would not be recovered by the existing
3 producing wells. The Campo Rico No.4 well was drilled to a depth of 10,880 ft
and logged hydrocarbon in the Mirador formation. The drilling rig has been
demobilised from the location and a workover rig is being mobilised for
completion operations. A pipeline is being constructed between the surface
location of the well and the Campo Rico field production facilities. First
production from the Campo Rico No.4 well is planned to take place prior to the
end of June 2007. Under the commerciality status granted by Ecopetrol for the
Campo Rico field development, the drilling and pipeline costs are shared with
Ecopetrol on a 50/50 basis, as is future production from the well.

Emeralds Partener in SYRIA And Operator Gulfsands are spudding Khurbet East 2 Appraisal Well in June.


Gulfsands Petroleum Drilling Update


RNS Number:8235W
Gulfsands Petroleum PLC
18 May 2007


Khurbet East - 1 Well at total depth

Production testing of Triassic reservoirs to commence

Khurbet East - 2 Appraisal Well to spud in June


London, 18th May, 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 Khurbet East ("KHE-1")
exploration well in Syria Block 26, which commenced drilling in mid February,
has reached total depth on schedule. Gulfsands is operator and owner of a 50%
interest in Block 26.


Triassic Reservoirs

The KHE-1 well has reached a total drilling depth of 3,800 metres and electric
wireline logs have been acquired. The Company has identified several zones of
interest within the Triassic aged reservoirs below 2,800 metres depth.
Production testing of these zones is expected to commence shortly. A further
update will be provided once testing has been completed and the results
evaluated.


Tertiary and Cretaceous Reservoirs

On 28th March 2007 the Company provided an update on drilling the Tertiary
Chilou (approximately 1,319 metres depth) and Cretaceous Massive Formation
(approximately 1,917 metres depth) in the KHE-1, where wireline logs indicated
net oil pay within those formations totaling 48.9 metres. In addition, wireline
pressure testing recorded an oil gradient in the Massive and an oil sample was
obtained in the Massive with an initial estimated API gravity of 21 degrees at
surface conditions.


Khurbet East 2 Appraisal Well

The Company will drill an appraisal well Khurbet East (KHE-2), to evaluate the
Tertiary Chilou and Cretaceous Massive reservoirs within a well-bore designed
specifically for those reservoirs. The KHE-2 well will also provide additional
information on the continuity and lateral extent of the reservoirs.

The Company has extended the contract for the Crosco 602 rig, currently drilling
KHE-1, to enable the new well to spud immediately following completion of
operations on KHE-1. This is currently anticipated to occur in early June.

18/05/2007 08:08 Emerald Energy Columbia Contracts

Edited Press Release

LONDON (Dow Jones)--Emerald Energy said Friday that since September 2006 the Company has been awarded four exploration and production contracts (Maranta, Ombu, Helen and Jacaranda) by the National Hydrocarbon Agency of Colombia (ANH).

Exploration activities are now focused on these four new areas as prospectivity has been identified on each and the ANH contracts include improved fiscal terms. Seismic acquisition is planned to commence during the third quarter of 2007 prior to potential drilling activity in 2008.

Drilling of the Aureliano No. 1 exploration well on the Fortuna block was completed in late January, with the target La Luna limestone formations being encountered as forecast. An extended phase of production testing has been conducted, including the use of a workover rig for perforation and acid stimulation. Following these operations, a flow rate of 10 barrels of oil per day (bopd) of 25 degree API gravity oil has been established.

The recovery of oil confirms the presence of hydrocarbons but the low flow rate indicates that communication with a fracture network has not been established. A detailed study of the data acquired during the drilling and testing of the well is being undertaken to determine the future potential of the well and the Aureliano accumulation.

A re-entry programme for two wells in the abandoned Totumal field to the south of Aureliano is being prepared, with the aim of determining the potential to recommence production from the field. The Totumal field produced 0.8 million barrels from the La Luna formations prior to abandonment in 1993. It is anticipated that data from these re-entries will also assist in the interpretation of information from the Aureliano No.1 well.

A fracture stimulation was conducted in May 2007 on the Silfide No.1 well in the Fortuna block. The well had been shut-in since the middle of 2006 due to a mechanical failure of the down hole pump. The well is cleaning up after the operation and a flow rate of 35 barrels of oil per day, a modest increase over the pre-workover rate, has been established.

The Campo Rico No.4 development well commenced drilling in April 2007 in the Campo Rico field. The well is located to recover reserves from the Mirador formation in the north of the field that would not be recovered by the existing 3 producing wells.

The Campo Rico No.4 well was drilled to a depth of 10,880 ft and logged hydrocarbon in the Mirador formation. The drilling rig has been demobilised from the location and a workover rig is being mobilised for completion operations. A pipeline is being constructed between the surface location of the well and the Campo Rico field production facilities. First production from the Campo Rico No.4 well is planned to take place prior to the end of June 2007. Under the commerciality status granted by Ecopetrol for the Campo Rico field development, the drilling and pipeline costs are shared with Ecopetrol on a 50/50 basis, as is future production from the well.

The Centauro Sur field development was awarded commerciality status by Ecopetrol in May 2007 and joint operations commenced. The reimbursable costs on this field have been recovered and future costs and production for this field are now shared with Ecopetrol on a 50/50 basis.

Daily gross production for the first quarter of 2007 averaged 3,508 barrels of oil per day, compared to 3,586 barrels of oil per day achieved in the fourth quarter of 2006. Production in April 2007 averaged 3,821 barrels of oil per day following a number of successful well intervention operations during the first quarter.

In the Campo Rico field, a workover was conducted in the Campo Rico No.1 well to replace the hydraulic jet pump with an electrical submersible pump, re-perforate an existing producing zone and add perforations in a new zone, resulting in an increased production rate of 160 barrels of oil per day.

In the Vigia field, workovers were conducted in the Vigia No.1 and No.3 wells. In the Vigia No.1 well, the Gacheta formation was isolated and the electrical submersible pump was reconfigured to improve its performance and in the Vigia No.3 well, the Une formation was isolated the Gacheta re-perforated. Production from the field was increased by 210 barrels of oil per day as a result of these workovers.

The Khurbet East No.1 exploration well was spud in mid-February 2007 on the Khurbet East prospect, a fault-bound structural culmination, with closure mapped at several potential reservoir levels including Cretaceous, Triassic and Palaeozoic ages. The Khurbet East prospect is located approximately 12 kilometres southwest of the Souedieh oil field and 12 kilometres south of the Roumelan oil field.

Hydrocarbon shows were encountered while drilling 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.

The presence of hydrocarbon in the Massive formation was confirmed by a wireline formation sampler which retrieved a sample of 21 degree API gravity oil to surface. Wireline logs indicated a potential net hydrocarbon interval of approximately 26.4 metres in the Chilou formation of which some 19 metres are contiguous in the top of the Chilou 'B' formation.

A wireline formation pressure sampler could not be run to confirm the presence of hydrocarbon in the Chilou formation as the sampler tools available were not suitable for large diameter well bores.

The well has reached a total drilling depth of 3,800 meters. Wireline logging indicated additional potential hydrocarbon intervals in the Triassic formations. Several intervals have been identified in the well for potential production testing which is expected to commence shortly.

However, there is a possibility that the shallow zones may not be production tested in this well due to a combination of the mechanical configuration of the shallow casing strings and the rig availability which may require the Crosco 602 rig to be demobilised from the Khurbet East No.1 location prior to testing all the intervals identified for potential production testing.

Any intervals not tested in this well may be production tested at a later date using a workover rig.

Immediately after completing operations on Khurbet East No.1, the Crosco 602 rig is planned to drill an appraisal well, Khurbet East No.2, on the Khurbet East prospect, with the main objective of appraising and testing the potential hydrocarbon accumulations in the Chilou and Massive formations. This well will also complete the minimum work obligation for the initial exploration phase in the block. Angus MacAskill, Emerald's Chief Executive Officer, said: "We are very pleased with the enhanced production in Colombia following workover activities, and look forward to additional production from the latest Campo Rico development well. In exploration, we are very encouraged by progress with the Khurbet East No.1 well in Syria and look forward to further activity both in Syria and in the new contract areas in Colombia."

(END) Dow Jones Newswires

May 18, 2007 03:08 ET (07:08 GMT)

Emerald Energy Drilling Report


RNS Number:6915X
Emerald Energy PLC
04 June 2007


Emerald Energy Plc


4 June 2007


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


Emerald Energy Plc ("Emerald" or the "Company") would like to provide the
following update on operations for the Khurbet East No.1 exploration well in
Block 26, Syria, following the release of information by the Gulfsands Petroleum
(the "Operator").


Well testing operations have been conducted on the Triassic aged Kurrachine
Dolomite formation in the Khurbet East No.1 well. Oil of approximately 35
degrees API gravity flowed to surface through a 32/64 inch choke at a rate of up
to 478 barrels per day, with a gas-to-oil ratio averaging approximately 2,000
standard cubic feet per barrel.


No further well testing operations are planned in the shallower formations in
the Khurbet East No.1 well at this time, retaining the option for further
testing or production operations in the Kurrachine Dolomite in the future.


Immediately after completing operations on Khurbet East No.1, the Crosco 602 rig
is planned to drill an appraisal well, Khurbet East No.2, on the Khurbet East
structure, with the main objective of appraising and testing the potential
hydrocarbon accumulations in the Chilou and Massive formations. Results are
expected from the Khurbet East No. 2 well in early August.

The Khurbet East No.1 well encountered four hydrocarbon bearing formations.


The Tertiary aged Chilou formation at 1,319 metres contains a potential net
hydrocarbon interval of approximately 26.4 metres. A wireline formation pressure
sampler could not be run to confirm the presence of hydrocarbon in the Chilou
formation as the sampler tools available were not suitable for large diameter
well bores.


The Cretaceous aged Massive formation at 1,917 metres contains a net hydrocarbon
interval of approximately 22.5 metres. A wireline formation sampler which
recovered oil samples to surface confirmed the presence of hydrocarbon in the
Massive formation. The oil, based on laboratory analysis, is approximately 24
degree API gravity.


The Triassic aged Butmah formation at 2,850 metres contains a net hydrocarbon
interval, as estimated by the Operator, of approximately 16 metres. A wireline
formation sampler which retrieved a gas sample to surface confirmed the presence
of hydrocarbon in the Butmah formation.

The Triassic aged Kurrachine Dolomite formation at 3,098 metres encountered
hydrocarbon shows over an interval of approximately 60 metres. The presence of
hydrocarbon in the Kurrachine Dolomite formation was confirmed by the well test
conducted with a 102 metre open-hole section. The net hydrocarbon interval is
uncertain as well-bore conditions resulted in inconclusive wireline logs over
this section.


Emeralds' Chief Executive Officer, Angus MacAskill, said:


"We are very pleased to have established hydrocarbon flow from the Kurrachine
Dolomite and look forward to the appraisal of the Chilou and Massive formations
in the Khurbet East No.2 well."


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

Gulfsands Petroleum PLC
29 May 2007

Gulfsands Petroleum PLC

Analyst and investor visit



London, 29th May, 2007: Gulfsands Petroleum plc (AIM: GPX) ('Gulfsands' or 'the
Company'), the oil and gas production, exploration and development company with
activities in the U.S.A., Syria and Iraq, announces that it will be hosting a
site visit to its operations in Syria on 29 and 30 May 2007. The site visit
will include a short presentation to be given by senior management, which is
intended to provide a greater understanding of Gulfsands' operations. No new
information concerning the Company's activities in Syria, the U.S.A. or Iraq
will be disclosed.

A summary of the presentation, together with other information about Gulfsands,
may be viewed on its website,

Gulfsands Petroleum PLC
04 June 2007


Gulfsands Petroleum PLC



Multi-zone Oil and Gas Discovery at Khurbet East - 1 Well, Syria


Triassic aged reservoir flows 478 bopd of 35 degree (API) oil on
drill-stem test

Cretaceous and Tertiary aged oil-bearing reservoirs to be further
appraised with KHE-2 well


3D seismic survey planned for Khurbet East and surrounding area



London, 4th June, 2007: Gulfsands Petroleum plc (AIM: GPX) ('Gulfsands' or
'the Company'), the oil and gas production, exploration and development company
with activities in the U.S.A., Syria and Iraq is pleased to announce that
drilling and initial testing operations on the Khurbet East ('KHE-1') discovery
well in Syria Block 26, where Gulfsands is operator and owner of 50% interest,
have now been completed after a successful drill-stem test of the deepest
productive reservoir encountered in the well-bore. KHE-1 will be suspended as a
future oil production well. After completion of operations on KHE-1, the rig
will move immediately to the KHE-2 appraisal well location.



The KHE-1 well encountered four significant hydrocarbon bearing reservoirs. The
deepest of these, the Triassic aged Kurrachine Dolomite Formation, flowed oil to
the surface on drill-stem test at a rate of approximately 478 barrels of oil per
day ('bopd') with a gas to oil ratio ('GOR') averaging approximately 2000
standard cubic feet per barrel ('scf/bbl'). Preliminary assessment of the oil
gravity is 35 degrees API.



A summary of the overall results of the KHE-1 well are as follows:


Reservoir Net Pay (metres) Depth (metres) Comments
Chilou 26.4 1,319 Core recovered
Massive 22.5 1,917 Oil sample recovered (24.3
degrees API)
Butmah 16.0 2,850 Core and natural gas
recovered
Kurrachine Dolomite * 3,098 Core recovered and well
flowed oil (35 degree API)
at 478 bopd



* Logged pay in the Kurrachine Dolomite appears relatively large but is
uncertain due to poor well-bore conditions at this depth. The drill-stem test
was conducted over a 102 metre interval.





In order to preserve the mechanical integrity of the KHE-1 well-bore as a future
oil producer, the Company will not undertake testing operations of the shallower
pay zones identified in the KHE-1 well-bore using the KHE-1 well-bore.



The Company previously announced that the KHE-2 appraisal well will be drilled
immediately after completion of operations on KHE-1. The KHE-2 appraisal well is
specifically designed to more completely evaluate the Tertiary and Cretaceous
reservoirs (Chilou and Massive respectively) encountered in KHE-1.



The Cretaceous Massive Formation in KHE-1 contains approximately 22 metres of
net oil pay over a 25 metre gross interval based on wireline log interpretation,
reservoir pressures and fluid sample recovery. The oil in this reservoir has an
API gravity of approximately 24 degrees, based on PVT analysis of the recovered
oil sampled.



The Tertiary Chilou 'B' Formation contained approximately 26 metres of net oil
pay, based on wireline log interpretation. The KHE-2 well will also provide
further information on the lateral extent and continuity of these reservoirs.
The Company expects the final results from KHE-2 in early August.



An appraisal well for the Triassic aged Kurrachine Dolomite and Butmah
reservoirs encountered in KHE-1 will be required in order to provide additional
information on reservoir extent and continuity, and the Company is therefore
proceeding with plans for the drilling of a second appraisal well as soon as
practicable.



The Company is also finalizing plans for acquisition of a 3D seismic survey over
the Khurbet East structure and surrounds. These data will aid in the
development of the Khurbet East reservoirs and will be used to select additional
exploration drilling locations in the vicinity of the Khurbet East structure.



Khurbet East Structure



The Khurbet East discovery is a relatively large fault-bound structural
culmination, with closure mapped at multiple reservoir levels. The areal extent
of the structure is approximately 15 square kilometres at the Triassic aged
Kurrachine Dolomite Formation reservoir level. The KHE-1 discovery well is
located approximately 12 kilometres southwest of the Souedieh Oil Field and 12
kilometres south of the Roumelan Oil Field. There is an existing oil pipeline
that has available capacity. With the significant existing infrastructure
within the confines of Block 26 and the close proximity to an existing pipeline,
production from Khurbet East may be accelerated with associated early cash flow
from this discovery.



For further information on the KHE-1 discovery, please refer to the Company's
website at
www.gulfsands.net
. A brief presentation on the Khurbet East
discovery will be available in the next few days.





Gulfsands' CEO, John Dorrier, said:



'The Company is just concluding its first phase of exploration in Block 26,
having drilled 4 wells and acquired some 1400 km of new 2D seismic in the Block
in only 2 years as operator. We enter this next phase having made an excellent
discovery at Khurbet East in up to 4 reservoirs. We are examining the potential
for early commercial development of this discovery as we expect it to have
significant impact on the Company's oil and gas reserves as well as longer term
cash flows. '





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.

Emerald Energy, Gulfsands establish hydrocarbon flow at Khurbet East No 1 well
AFX


LONDON (Thomson Financial) - Emerald Energy PLC said it, along with operator Gulfsands Petroleum, has established hydrocarbon flow at the Khurbet East No 1 well in Block 26, Syria.

Emerald energy said oil from the well flowed at a rate of up to 478 barrels a day at 35 degree API with a gas-to-oil ratio averaging around 2,000 standard cubic feet per barrel.

Confirming this in a separate release, Gulfsands Petroleum -- which has a 50 pct interest in the block -- said the well will be suspended as a future oil production well.

Emerald said the Crosco 602 rig will move on to the Khurbet East No 2 appraisal well to test potential hydrocarbon accumulations there.

Results from Khurbet East No 2 well are expected in early August, the company added.

Now that should propel them higher. They needed to diversify away from South America and now they have done it!

Emerald Energy PLC
15 June 2007

Embargoed for 7.00am

15 June 2007



Emerald Energy Plc


Drilling Update: Khurbet East No.2, Block 26, Syria



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


Khurbet East No.2 appraisal well was spud on 14th June by the Crosco 602 rig.
Khurbet East No.2 is located approximately 1.2 kilometres to the northeast of
the Khurbet East No.1 discovery well and is planned to appraise the Tertiary
Chilou and Cretaceous Massive formations encountered in the Khurbet East No.1
well. The total drilling depth of the Khurbet East No.2 well is expected to be
approximately 2,100 metres and take approximately 45 days to drill and evaluate.
Results from the Khurbet East No.2 well are expected in August.


In the Khurbet East No.1 well, the Tertiary aged Chilou formation encountered a
potential net hydrocarbon interval of approximately 26 metres, based on wireline
logs. A wireline formation pressure sampler could not be run to confirm the
presence of hydrocarbon in the Chilou formation as the sampler tools available
were not suitable for large diameter well bores.


The Cretaceous aged Massive formation in the Khurbet East No.1 well encountered
a net hydrocarbon interval of approximately 22 metres. A wireline formation
sampler which recovered oil samples to surface confirmed the presence of
hydrocarbon in the Massive formation. The oil, based on laboratory analysis, is
approximately 24 degree API gravity.


Emeralds' Chief Executive Officer, Angus MacAskill, said:


'We are pleased to be progressing rapidly with the appraisal of the hydrocarbon
accumulations encountered in the shallow horizons in the Khurbet East No. 1
discovery well and look forward to the results from the Khurbet East No.2
appraisal well.'


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

Gulfsands Petroleum PLC
15 June 2007

Khurbet East -2 Appraisal Well Commences in Syria



London, 15th June, 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 commenced drilling the
Khurbet East ('KHE-2') appraisal well within Block 26, Syria on Thursday, 14
June.

Gulfsands, the operator and 50% working interest owner in Block 26, Syria, has
commenced drilling the KHE-2 well to appraise and evaluate the Tertiary Chilou
and Cretaceous Massive reservoirs encountered in the KHE-1 discovery well. The
total drilling depth of the KHE-2 well is expected to be approximately 2,050
metres and will require approximately 45 days to drill and evaluate.

The Cretaceous Massive Formation in KHE-1 contained approximately 22 metres of
net oil pay over a 25 metre gross interval based on wireline log interpretation,
reservoir pressure gradients and fluid sample recovery. The oil in this
reservoir has an API gravity of approximately 24 degrees, based on PVT analysis
of the recovered oil sample. The Massive formation was encountered at 1917
metres depth in the KHE-1 well.

The Tertiary Chilou 'B' Formation contained approximately 26 metres of net oil
pay in the KHE-1, based on wireline log interpretation. The Chilou 'B'
Formation was encountered at 1316 metres depth in the KHE-1 well.

The KHE-2 well will also provide further information on the lateral extent and
continuity of these reservoirs.

The Company expects to provide the final results from KHE-2 in early August.