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 Interim Results


RNS Number:9451B
Emerald Energy PLC
13 August 2007


13 August 2007


EMERALD ENERGY PLC ("EMERALD" OR THE "COMPANY")
ANNOUNCES INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2007


Highlights


* Khurbet East No.2 appraisal well confirms presence of significant volumes of
hydrocarbons in the Khurbet East field in Block 26, Syria


* Emerald elected to enter into first extension of the exploration period in
Block 26, Syria;

* Exploration activities commenced in four new ANH contracts in Colombia;

* Colombian gross production maintained at an average rate of 3,661 bopd
(2006: 3,677 bopd);

* Adjusted EBITDA for the period of $14.4 million (2006: $13.2million), 9%
higher than in the same period last year;

* Profit after tax for the period of $4.1 million (2006: $3.6million), 16%
higher than in the same period last year;

* Cash reserves of $42 million (as at 31 July 2007), following the issue of
convertible bonds in July 2007.


OUTLOOK

In Block 26, Syria, Emerald is focused on further appraisal of the Khurbet East
discovery with the objective of early development and production. Activity on
Khurbet East is planned to continue with the acquisition of a 3D seismic survey
and may include another appraisal well prior to the submission of a commercial
discovery report under the production sharing contract. Electing to enter the
first extension of three years of the exploration period will allow further
exploration within the block, including the area around the Khurbet East
discovery where the acquisition of further seismic information is planned to
mature the leads identified in the same exploration play.

In Colombia, the focus is on the exploration potential of the new ANH licenses
for the Ombu, Maranta and Jacaranda blocks, while maintaining the gross
production from the existing fields. Exploration activity for the remainder of
2007 will concentrate on maturing the high potential prospects and leads within
these blocks, where mean unrisked prospective resources are estimated to be in
excess of 40 million barrels of oil equivalent. The drilling campaign on these
licenses is expected to commence by early 2008. With two of the larger prospects
at shallow depths of between 3,000 and 6,000 feet, the Company looks forward to
a cost-effective exploration drilling programme testing material prospective
resources.

The issue of $30 million senior unsecured convertible bonds in July and the
strong cash flow, generated from its existing production in Colombia, will
permit the Company to execute its current exploration and development plans.

Emerald Energy H1 pretax up; says significant hydrocarbons in Syrian well


LONDON (Thomson Financial) - Emerald Energy PLC reported a rise in pretax
profits for the first-half helped by lower costs and said its Khurbet East No 2
appraisal well in Block 26, Syria, confirms the presence of significant volumes
of hydrocarbons.
The company's pretax profit increased to 8.3 mln usd from a restated 7.7 mln
usd profit in the same period last year, though revenues fell marginally to 20.7
mln usd from 21.3 mln usd.
Emerald Energy said it is focused on further appraisal of the Khurbet East
discovery for early development and production.
Activity on Khurbet East is planned to continue with the acquisition of a 3D
seismic survey and may include another appraisal well prior to the submission of
a commercial discovery report under the production sharing contract, it added.
Emerald Energy said it had cash reserves of 42 mln usd as at July 31.
TFN.newsdesk@thomson.com
apm/faj/slm

Emerald Energy H1 pretax up; says significant hydrocarbons in Syrian well
AFX


LONDON (Thomson Financial) - Emerald Energy PLC reported a rise in pretax profits for the first-half helped by lower costs and said its Khurbet East No 2 appraisal well in Block 26, Syria, confirms the presence of significant volumes of hydrocarbons.

The company's pretax profit increased to 8.3 mln usd from a restated 7.7 mln usd profit in the same period last year, though revenues fell marginally to 20.7 mln usd from 21.3 mln usd.

Emerald Energy said it is focused on further appraisal of the Khurbet East discovery for early development and production.

Activity on Khurbet East is planned to continue with the acquisition of a 3D seismic survey and may include another appraisal well prior to the submission of a commercial discovery report under the production sharing contract, it added.

Emerald Energy said it had cash reserves of 42 mln usd as at July 31.

TFN.newsdesk@thomson.com

Date: Mon, 13 Aug 2007 11:44:30 +0100

Web page : http://www.emeraldenergy.com

For Immediate Release

Emerald Energy Plc (the "Company")

13 August 2007

EMERALD ENERGY PLC ("EMERALD" OR THE "COMPANY") ANNOUNCES INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2007

Highlights

Khurbet East No.2 appraisal well confirms presence of significant volumes of hydrocarbons in the Khurbet East field in Block 26, Syria;

Emerald elected to enter into first extension of the exploration period in Block 26, Syria;

Exploration activities commenced in four new ANH contracts in Colombia;

Colombian gross production maintained at an average rate of 3,661 bopd (2006: 3,677 bopd);

Adjusted EBITDA for the period of $14.4 million (2006: $13.2 million), 9% higher than in the same period last year;

Profit after tax for the period of $4.1 million (2006: $3.6 million), 16% higher than in the same period last year;

Cash reserves of $42 million (as at 31 July 2007), following the issue of convertible bonds in July 2007.

To view the Interim Results please visit the Emerald Energy Web page http://www.emeraldenergy.com/investor-interim-reports.htm

Enquiries: Helen Manning 020 7925 2440

From UK-Analyst.com: Monday 13th August 2007


Emerald Energy (EEN) shares closed 16p ahead today at 205p after the company reported first-half pre-tax profits of 8.3 million US dollars, up from 7.7 million in the same period last year, albeit on revenues marginally lower at 20.7 million. The company said it is determined on further appraisal of the Khurbet East discovery for early development and production. Activity on Khurbet East is planned to continue with the acquisition of a 3D seismic survey and could include another appraisal well prior to the submission of a commercial discovery report under the production sharing contract. The company added it had cash reserves of 42 million dollars as at 31 July.

Emerald Energy PLC
24 September 2007


Emerald Energy Plc


24 September 2007


Khurbet East Operations Update, Block 26, Syria


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

A further appraisal well, Khurbet East No.3, is planned to commence drilling in
November 2007. This well will further appraise the Cretaceous Massive reservoir
encountered by the Khurbet East No.1 and Khurbet East No.2 wells. Khurbet East
No.3 is expected to have a total drilling depth of 2,150 metres and take
approximately 45 days to drill and evaluate. The well is planned to be drilled
using the MB3 drilling rig owned by MB Drilling Overseas Limited under the
existing rig sharing contract in place with another operator in Syria.

A 3D seismic survey is scheduled to commence in October 2007. The survey will
acquire 150 sq.km of seismic data across the Khurbet East structure and an
additional 240 sq.km across exploration leads identified in the Khurbet East
play to the south of the Khurbet East field. The 3D survey across the Khurbet
East field will be used to plan well locations for field development. The
seismic acquisition is planned to be completed in January 2008 with processing
and interpretation completed in the first quarter of 2008.

Development planning activities have started for the commercial development of
the Khurbet East field with initial production targeted for the second half of
2008. Rights to utilize the local pipelines and other infrastructure are granted
as part of the Contract for the Exploration, Development and Production of
Petroleum for Block 26.

A technical and commercial evaluation of the field, including initial
development plans, is expected to be submitted to the Syrian Government and the
Syrian Petroleum Company in the fourth quarter of 2007 for consideration and
approval.

An evaluation of the reserves in the Khurbet East field is being conducted by an
independent engineering firm, RPS Group plc, based in London. This evaluation is
expected to be completed by the end of 2007.

The operator, Gulfsands Petroleum Syria Limited, has signed an amendment to an
existing rig contract with Crosco, Integrated Drilling and Well Services,
Company Ltd for the drilling of two wells by May 2008 and agreed in principle
the terms of a further rig agreement in support of the Khurbet East field
development.


Emeralds' Chief Executive Officer, Angus MacAskill, said:

'We are very pleased to be progressing the Khurbet East field to development and
look forward to initial production from the field in 2008. We are optimistic
that the current exploration activities in Block 26 stepping out from the
Khurbet East discovery will result in the generation of prospects ready for
drilling in 2008.'

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



Enquiries: Lisa Hibberd 020 7925 2440

Emeralds Partener in Syria Gulfsands Petroleum RNS

Gulfsands Petroleum PLC
24 September 2007

Second appraisal well to commence at Khurbet East


Plans initiated for early commercial development at Khurbet East


3D seismic acquisition to begin over Khurbet East


New drill rig contract executed for further drilling


London, 24th September, 2007: Gulfsands Petroleum plc ('Gulfsands', the 'Group'
or the 'Company' - 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 a second appraisal well at Khurbet East ('KHE-3'), Syria, is
scheduled to commence drilling in November of 2007. Additionally, a 3D seismic
survey is scheduled to commence in late October that will cover both Khurbet
East and adjacent exploration leads to the south of the Khurbet East discovery.

KHE-3 Well

The KHE-3 well will further appraise the Cretaceous Massive reservoirs
encountered in both the Khurbet East 1 ('KHE-1') discovery well and the Khurbet
East 2 ('KHE-2') appraisal well and is scheduled to commence drilling in
November.

The drilling of this well will assist in the planning for early development and
production of the Massive reservoir in Khurbet East. The total drilling depth
of the KHE-3 well is expected to be approximately 2,150 metres and will require
approximately 45 days to drill and evaluate at a gross cost, including rig
mobilization and demobilization costs, of approximately $2.4 million, or $1.2
million net to Gulfsands. Utilizing its shared drilling contract with
Petro-Canada in Syria, the Company plans to drill this well with the MB3
drilling rig owned by MB Drilling Overseas Limited.

Recent additional analysis of both the KHE-1 and KHE-2 wells suggests that the
net oil pay within both wells is larger than previously indicated, with
potentially additional pay deeper in the Massive reservoirs. Independent
wireline log analysis and production test data from KHE-2 now indicate a total
of approximately 29 metres of net oil pay in both the KHE-2 and KHE-1 wells,
thereby increasing the reserve potential of the Khurbet East discovery.

To date, there has been no clear oil-water contact seen in either well and no
formation water was recovered during the recent KHE-2 production test. The
reserve potential of the Massive reservoir in Khurbet East now exceeds the
Company's original estimates of the reserve potential of both the Cretaceous
Massive and Tertiary Chilou combined.

Early Development Plans

The Company is currently developing plans for an early production programme and
full field commercial development of the Khurbet East discovery, with initial
production targeted for the second half of 2008. The Company expects to present
these plans, along with the initial development plan, to the Syrian Government
and the Syrian Petroleum Company in the fourth quarter of 2007 for consideration
and approval.

As part of the Contract for the Exploration, Development and Production of
Petroleum for Block 26 with the Syrian Government and the Syrian Petroleum
Company, the Company has been granted rights to utilize the local pipelines and
other infrastructure which includes an export oil pipeline located within the
presently mapped boundaries of the Khurbet East structure. The Company may
locate the Khurbet East Field oil processing facility adjacent to this export
pipeline, thus minimizing the tie-in distance, costs and time.

The Company is also preparing its 2008 work programme for Block 26 with plans to
drill an appraisal well of both the Triassic Butmah and Kurrachine Dolomite
Formations in Khurbet East following the earlier successful production test of
the Triassic formation carried out in the KHE 1 well. The 3D seismic survey
over the Khurbet East Field area which will commence in October will assist in
the selection of the location for this well.

3D Seismic

The Company is scheduled to commence a 3D seismic acquisition programme in Block
26 late next month. The seismic survey is designed to acquire approximately 150
square kilometres of seismic data over the Khurbet East structure and a further
240 square kilometres over an area south of Khurbet East.

The 150 square kilometres of 3D seismic data to be acquired over the Khurbet
East structure will assist in locating development and near-field offset wells
and provide support for reserves reporting. Work on the first reserves report
for Khurbet East has commenced with the engagement of an independent engineering
firm, RPS Group plc based in London, and this should be completed before the end
of 2007.

The additional 240 square kilometres of 3D seismic data to the south of Khurbet
East will be used to evaluate exploration leads and to develop 'drill ready'
targets for the Massive and Kurrachine Dolomite formations south of Khurbet East
and within the Khurbet East 'play fairway'.

The seismic acquisition programme should be completed in January with processing
and interpretation completed in the first quarter of 2008.

Drilling Rig

In anticipation of this significant increase in activity on Block 26, the
Company has signed an amended contract with Crosco, Integrated Drilling & Well
Services, Company Ltd. for the drilling of two wells by May 2008. Additionally,
the Company has agreed in principle with Crosco for another drilling rig to
commence work in mid 2008 for a period of one year plus an option for an
additional one year. With these rigs the Company can fully appraise and develop
the Khurbet East Field expeditiously for the benefit of both the Company and the
Syrian Government.

Gulfsands' CEO, John Dorrier, said:

'Following the success of KHE-2, the Company is moving forward aggressively to
appraise the Khurbet East Field further, secure an approved Field Development
Plan and initiate early production as quickly as possible. Having secured a
drilling rig for use in 2008, we will sustain considerable momentum in the
drilling campaign for both development and exploration within Block 26. With
access rights to the nearby export pipeline granted in the PSC, we are
optimistic about the prospects for bringing the Khurbet East discovery into
production during the second half of 2008.'

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.

ABOUT GULFSANDS:

Gulf of Mexico, USA

The Company owns interests in 54 offshore blocks comprising approximately
193,000 gross acres which includes numerous producing oil and gas fields
offshore Texas and Louisiana with proved and probable recoverable reserves net
to Gulfsands at 31 December 2006 of 41.5 BCFGE (6.9 MMBOE), consisting of 27.3
BCFG and 2.36 MMBO.

Onshore USA

Gulfsands owns interests in two oil and gas fields onshore Texas, USA (98.5%
working interest in Emily Hawes Field and 37.5% working interest in Barb Mag
Field) with proved and probable recoverable reserves net to Gulfsands at 31
December 2006 of 3.1 BCFGE (0.5 MMBOE), consisting of 2.8 BCFG and 57,000
barrels of oil.

Syria

Gulfsands owns a 50% working interest and is operator of Block 26 in North East
Syria. Block 26 covers approximately 8,250 square kilometres and encompasses
existing fields which currently produce over 100,000 barrels of oil per day.
These fields are operated by third parties including the Syria Petroleum
Company. In the first half of 2007 Gulfsands announced an oil and gas discovery
on Block 26 called Khurbet East. This discovery is currently under appraisal.
The Company initiated the first extension period of exploration on Block 26 for
a further period of three years commencing on 23 August 2007.

Iraq

Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry
of Oil in Iraq for the Maysan Gas Project in Southern Iraq and following
completion of a feasibility study on the project is negotiating details of
definitive contract for this regionally important development. The project will
gather process and transmit natural gas that is currently a waste by-product of
oil production and as a result of the present practice of gas flaring,
contributes to significant environmental damage in the region.

Certain statements included herein constitute 'forward-looking statements'
within the meaning of applicable securities legislation. These forward-looking
statements are based on certain assumptions made 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, please refer to the Company's website
www.gulfsands.net

Emerald Energy PLC
05 November 2007


Emerald Energy Plc

5 November 2007

Commencement of 3D Seismic Operations, Block 26, Syria

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

The 3D seismic acquisition programme in Block 26 has commenced. The equipment
and crew have been mobilised to the location and acquisition of seismic data is
expected to start within one week.

Approximately 160 square kilometres of 3D seismic data will be acquired over the
Khurbet East field to assist in defining the limits of the field and optimising
the location of development wells. The data will also progress exploration leads
that have been identified on existing 2D seismic data immediately adjacent to
the field.

A further 240 square kilometres of 3D seismic data will be acquired in a
separate area to the south of the Khurbet East field. This data will progress
exploration leads that are similar to the Khurbet East field and were identified
previously on existing 2D seismic data, and assist in developing 'drill ready'
prospects.

The seismic acquisition programme is expected to be completed in January 2008
with processing and interpretation following during the first half of 2008.

Emeralds' Chief Executive Officer, Angus MacAskill, said:

'The acquisition of the 3D seismic data will provide key information for the
development of the Khurbet East field and maintain the exploration momentum
within the block.'


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


Enquiries: Lisa Hibberd 020 7925 2440


http://www.gulfsands.net/s/Presentations.asp

Gulfsands Petroleum PLC
05 November 2007


3D seismic programme commences over Khurbet East Field

Updated Khurbet East and corporate presentation on website


London, 5th November, 2007: Gulfsands Petroleum plc ('Gulfsands', the 'Group' or
the 'Company' - 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 with the 3D seismic programmes over the
Khurbet East Field as well as an exploration area to the south of the field.

3D Seismic

The Company has commenced the following 3D seismic acquisition programmes in
Block 26.

Approximately 160 square kilometres of 3D seismic data is being acquired over
the Khurbet East Field which will:

Assist in defining the limits of the Khurbet East Field,
Allow for optimization of development well locations, and
Provide additional data over leads immediately adjacent to the Khurbet
East Field that have been identified on existing 2D seismic data.

An additional 240 square kilometres of 3D seismic data to the south of Khurbet
East is also being acquired. This data will evaluate previously identified
exploration leads for developing 'drill ready' targets south of Khurbet East and
within the Khurbet East 'play fairway'.

The seismic acquisition programmes are expected to be completed in January 2008
with processing and interpretation following during the first half of 2008.



Website Presentation

Gulfsands has prepared a brief presentation on the Khurbet East Field which can
be viewed on the Company's website at
www.gulfsands.net
. This presentation
includes drilling and logging results to date for both the KHE-1 and KHE-2
wells, the forward programme for the Field including expected timing of first
oil production, and an analysis of oil revenue distribution under the Block 26
Contract for the Exploration, Development and Production of Petroleum.
Additionally, on the Company's website there is an updated corporate
presentation available for viewing.



Gulfsands' CEO, John Dorrier, said:

'The 3D seismic surveys at Khurbet East and adjacent areas will provide key
information for accelerated development of the field, and provide additional
exploration targets for near-term drilling. The Company anticipates moving
forward aggressively with Khurbet East development activities in 2008 with the
intention of achieving first production there in the second half of the year.
The Company also plans to continue its exploration of Block 26 by drilling new
exploration prospects during 2008.'




ABOUT GULFSANDS:

Gulf of Mexico, USA

The Company owns interests in 54 offshore blocks comprising approximately
193,000 gross acres which includes numerous producing oil and gas fields
offshore Texas and Louisiana with proved and probable recoverable reserves net
to Gulfsands at 31 December 2006 of 41.5 BCFGE (6.9 MMBOE), consisting of 27.3
BCFG and 2.36 MMBO.

Onshore USA

Gulfsands owns interests in two oil and gas fields onshore Texas, USA (98.5%
working interest in Emily Hawes Field and 37.5% working interest in Barb Mag
Field) with proved and probable recoverable reserves net to Gulfsands at 31
December 2006 of 3.1 BCFGE (0.5 MMBOE), consisting of 2.8 BCFG and 57,000
barrels of oil.

Syria

Gulfsands owns a 50% working interest and is operator of Block 26 in North East
Syria. Block 26 covers approximately 8,250 square kilometres and encompasses
existing fields which currently produce over 100,000 barrels of oil per day.
These fields are operated by third parties including the Syria Petroleum
Company. In the first half of 2007 Gulfsands announced an oil and gas discovery
on Block 26 called Khurbet East. This discovery is currently under appraisal.
The Company initiated the first extension period of exploration on Block 26 for
a further period of three years commencing on 23 August 2007. The Company has
also formed a strategic partnership with Cham Holding for acquiring oil and gas
projects in Syria and Iraq.


http://www.gulfsands.net/s/Presentations.asp

Emerald Energy Plc

20 November 2007

Khurbet East No.3 Well Update, Block 26, Syria

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

The drilling of the Khurbet East No.3 well has commenced using the MB-3 rig. Khurbet East No.3 is located approximately 0.9 kilometres southwest of the Khurbet East No.1 discovery well and 1.2 kilometres south of the Khurbet East No.2 appraisal well and will further appraise the Cretaceous aged Massive reservoir encountered in these wells.

The drilling of this well will assist in the planning of early development of the Massive reservoir in the Khurbet East field with first production targeted for the second half of 2008.

Khurbet East No.3 is expected to have a total drilling depth of approximately 2,050 metres and take approximately 45 days to drill and evaluate.


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

'The start of operations on this well, combined with the recently announced commencement of the 3D seismic acquisition programme, marks continued progress towards early development of the Khurbet East field.'


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


Enquiries: Lisa Hibberd 020 7925 2440

Gulfsands Petroleum Commencement of Drilling




RNS Number:0406I
Gulfsands Petroleum PLC
20 November 2007


Khurbet East 3 appraisal well commences in Syria


London, 20th November, 2007: Gulfsands Petroleum plc ("Gulfsands", the "Group"
or the "Company" - 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 3 ("KHE-3")
appraisal well within Block 26, Syria.


KHE-3 Well


Gulfsands, the operator and 50% working interest owner in Block 26, has
commenced drilling the KHE-3 well to further appraise the Cretaceous Massive
reservoirs encountered in both the Khurbet East 1 ("KHE-1") discovery well and
the Khurbet East 2 ("KHE-2") appraisal well.


The drilling of this well will assist in the planning for early development and
production of the Massive reservoir in Khurbet East scheduled for the second
half of 2008. To date, there has been no clear oil-water contact seen in either
well and no formation water has been recovered.


The total drilling depth of the KHE-3 well is expected to be approximately 2,050
metres. The well will require approximately 45 days to drill and evaluate at a
gross cost, including rig mobilisation and demobilisation, of approximately $2.4
million ($1.2 million net to Gulfsands).


For further information please view the presentation on the Khurbet East Field
located on the Company's website at www.gulfsands.net.


ABOUT GULFSANDS:


Gulf of Mexico, USA

The Company owns interests in 54 offshore blocks comprising approximately
193,000 gross acres which includes numerous producing oil and gas fields
offshore Texas and Louisiana with proved and probable recoverable reserves net
to Gulfsands at 31 December 2006 of 41.5 BCFGE (6.9 MMBOE), consisting of 27.3
BCFG and 2.36 MMBO.


Onshore USA

Gulfsands owns interests in two oil and gas fields onshore Texas, USA (98.5%
working interest in Emily Hawes Field and 37.5% working interest in Barb Mag
Field) with proved and probable recoverable reserves net to Gulfsands at 31
December 2006 of 3.1 BCFGE (0.5 MMBOE), consisting of 2.8 BCFG and 57,000
barrels of oil.


Syria

Gulfsands owns a 50% working interest and is operator of Block 26 in North East
Syria. Block 26 covers approximately 8,250 square kilometres and encompasses
existing fields which currently produce over 100,000 barrels of oil per day.
These fields are operated by third parties including the Syria Petroleum
Company. In the first half of 2007 Gulfsands announced an oil and gas discovery
on Block 26 called Khurbet East. This discovery is currently under appraisal.
The Company initiated the first extension period of exploration on Block 26 for
a further period of three years commencing on 23 August 2007. The Company has
also formed a strategic partnership with Cham Holding for acquiring oil and gas
projects in Syria and Iraq.


Iraq

Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry
of Oil in Iraq for the Maysan Gas Project in Southern Iraq and following
completion of a feasibility study on the project is negotiating details of
definitive contract for this regionally important development. The project will
gather process and transmit natural gas that is currently a waste by-product of
oil production and as a result of the present practice of gas flaring,
contributes to significant environmental damage in the region.


Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable securities legislation. These forward-looking
statements are based on certain assumptions made 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, please refer to the Company's website www.gulfsands.net
or contact:


Gulfsands Petroleum (Houston) + 1-713-626-9564

John Dorrier, Chief Executive Officer
David DeCort, Chief Financial Officer

Gulfsands Petroleum (London) 020-7182-4016
Kenneth Judge, Director of Corporate Development 07733-001-002

College Hill (London) 020-7457-2020

Nick Elwes
Simon Whitehead

Landsbanki Securities (UK) Limited (London) 020-7426-9000

Jeff Keating / Tom Hulme (Corporate Finance)


This information is provided by RNS
The company news service from the London Stock Exchange
END

DRLFFEFWUSWSESF

Gulfsands Petroleum Emerald, Gulfsands start drilling of Khurbet East No 3 well, Syria




LONDON (Thomson Financial) - Emerald Energy PLC and Gulfsands Petroleum PLC
have commenced drilling of the Khurbet East No 3 well in Northeast Syria, which
will assist in the planning of early development of the reservoir in the Khurbet
East field.
The first production from the well is targeted for the second-half of 2008.
The well will be evaluated at a gross cost of about 2.4 mln usd, of which
Gulfsands said it will bear 1.2 mln usd.

1st qtr 2008 Emerald will drill Ombu#1 a shallow 4000ft exploration well with a proven hydrocarbon system,if a commercial discovery Emerald will aquire seismic and start a multi-well programme in 2008


In 1976 the Payara-1 well was drilled On the Ombu Block and recovered 11-14 API oil from flow tests of multiple horizons the well was suspended as area lacked infrastructure

Colombia : Ombu E&P Contract (Emerald 100% working interest)

High materiality prospect
Mirador reservoir target 4,000ft
Shallow, low cost well
Unrisked P50 resource 30 mmbo

Proven hydrocarbon system
Payara-1 well, drilled 1976
11 14 API oil recovered from flow tests of multiple horizons
well suspended as area lacked infrastructure

Forward plan
Drill exploration well (Q1 2008)
If commercial discovery, seismic and multi-well programme in 2008

Colombia : Ombu E&P Contract (Emerald 100% working interest)

High materiality prospect
Mirador reservoir target 4,000ft
Shallow, low cost well
Unrisked P50 resource 30 mmbo

Proven hydrocarbon system
Payara-1 well, drilled 1976
11 14 API oil recovered from flow tests of multiple horizons
well suspended as area lacked infrastructure

Forward plan
Drill exploration well (Q1 2008)
If commercial discovery, seismic and multi-well programme in 2008


Colombia : Maranta E&P Contract (Emerald 100% working interest)

Several prospects & leads
Unrisked resource 5 15 mmbo per structure
Potential multiple reservoir targets

Putumayo basin
Producing area with infrastructure

Proven hydrocarbon system
On trend with existing fields
Close to recent discoveries made by Gran Tierra

Forward plan
Acquire 2D seismic
Drill exploration well in H2 2008

Colombia : Jacaranda E&P Contract (Emerald 100% working interest)

Material lead
Unrisked P50 resource 10 mmbo
Large channel feature (new play) identified from seismic bright spot
Shallow 6,000 ft low cost wells
Southwest Llanos basin
Nearby infrastructure

Forward plan
2D seismic acquired
Reprocessing and interpretation
Exploration well decision March 2008

oilbarrel

Gulfsands Petroleum Spuds Third Well On Khurbet East As It Targets First Production By Q4 2008
2008 could open with a bang for followers of Gulfsands Petroleum. It has spudded a third appraisal well on its Khurbet East discovery and success here could put the company on track for its first production in the Middle East by this time next year. Khurbet East-3 will target the Cretaceous Massive reservoirs encountered in the KHE-1 discovery well and the KHE-2 appraisal well drilled earlier this year. The US$2.4 million well will drill to a depth of 2,050 metres and should take 45 days to drill and complete, meaning results should be due early in the New Year.

This is turning into a very nice project for Gulfsands and its 50/50 partner Emerald Energy. Their Syrian campaign may have got off to a rocky start with a couple of duff wells - Souedieh North-1 and Tigris-1 - but Khurbet East means those disappointments are now well on their way to being forgotten.

The discovery lies in the 8,250 sq km Block 26 in northeast Syria, which is home to existing fields that produce over 100,000 barrels per day for other operators, mainly from the Cretaceous formation. Khurbet East, however, is a multi-zone discovery, with the initial discovery well flowing 35-degree API oil from the Triassic-aged Kurrachine Dolomites, natural gas from the Triassic-aged Butmah reservoir and 24-degree API oil from the shallower Cretaceous-aged Massive Formation. A follow-up well, KHE-2, confirmed the presence of a high quality reservoir in the Massive capable of high production rates and it is this formation that will be developed on a fast-track basis.

The AIM company is pursuing the Massive formation before getting to grips with the deeper zones because this will be the easiest, cheapest and fastest way to commercialise the discovery. The Massive formation is well understood in the area and this crude quality can be easily transported in the existing nearby infrastructure (Khurbet East has the advantage of lying within 12 km of the Souedieh and Rumeilan oilfields and has an oil export pipeline running directly through it). The Massive is also relatively shallow so drilling costs can be kept down and the relatively low gas-to-oil ratio means there is no need for gas handling or transportation. Whats more, the construction of production facilities for the Massive should reduce costs when Gulfsands comes to exploit Khurbet Easts deeper reservoirs.

These include Butmah, which yielded live oil and gas shows during the drilling of KHE-1 and appears to have good porosity and permeability in the main pay zone. The Kurrachine Dolomite reservoir at 3,000 metres also encountered significant live oil and gas shows during drilling but the poor hole conditions common to this formation mean it has been difficult to estimate the gross and net pay. The formation did, however, flow up to 478 barrels per day of 35-degree API oil during an open-hole drill-stem test. The company plans to drill an appraisal well next year to test these deeper reservoirs.

Perhaps most exciting, however, is the remaining potential within Block 26. Gulfsands is acquiring 160 sq km over Khurbet East to help define optimize the field development as well as define leads identified on 2D data that lie immediately adjacent to the field. The company is also acquiring a further 240 sq km of data to the south of the field to help develop an inventory of drill-ready targets within what it calls the Khurbet East play fairway. It plans to drill some of these prospects next year in what promises to be an exciting 12 months for Gulfsands and its followers, vindicating the companys decision to invest cash flows generated from steady production in the US in exploring the desert sands of the Middle East.

By my calculations the 45 day drilling(approx) is up Friday,surprised this has not
moved considering it's an appraisal well?
cyril

Some movement today, expecting a result next week how much upside their is, will depend upon the type of news? The hoped for news of oil play could bring 0p+,but what will give it a real boost is confirmation of reserves, so waiting patiently for KH3 to give up its secrets.
With the price of oil at an all time high EEN's Colombian production (3661bopd) will be adding some serious bucks to the coffers.
cyril

This is what we've been waitng for.
http://www.investegate.co.uk/Article.aspx?id=200801070700511561L
cyril