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
20 July 2005


Emerald Energy plc


Operations Update


Today, at a presentation to fund managers and analysts, Alastair Beardsall,
Emerald's Chairman provided the following update:

'Since our last report at the Company's AGM the following progress has been
made:


Vigia #1 well was put on production a few days ago and was tested at 700
barrels oil per day before being shut-in for a pressure build-up. Vigia #1
is expected to produce at 1,000 barrels of oil per day.


Vigia #2 is being prepared for production testing and is expected to be
on full production in August.


Vigia #3 is being drilled and should reach its planned total depth early
next month. First production is anticipated late August.


The workover of well Campo Rico #2 is now complete; the well has been put
on production and is currently cleaning-up.


The workover of Campo Rico #3 is underway and is expected to return to
production by the end of July.


Production from Emerald's fields for 2nd quarter 2005 averaged 2,796
barrels oil per day and currently production averages 3,000 barrels of oil
per day


We plan to spud 2 more exploration wells this year, one on El Algarrobo and the
other on the Sulfide prospect within the Fortuna Bock'


The Company expects to announce its Interim Results for the 6 months to 30 June
2005 on 28 September 2005


Contact
Emerald Energy plc
Helen Manning Tel 020 7925 2440

any thoughts ??? going in the right direction but is it at the pace people expect or is this a delay and a problem with viagra? and cleaning up on CR2 ?

why bring this out with only half the facts why not wait till eo july or was it just leaked from the presentation this could be the big thing that they are actually presenting to fund managers and analyst's

overall unsure if good or bad ?

On the whole the RNS is recieved by most as positive, production date vigia3
with new drilling program at el algarrobo and sulfide.
the market is neutral and i feel in the short term will remain so.
cyril

i disagree wasnt that well received as everyopne was looking for some numbers nearer 6000 bopd and all we got was 3000 still sure it will get there in the end
but not so confinvence to buy more third lot of shares with my average price around 200p at the minute

will contact een as still hoping for update at end of july with CR2 sorted and Vigia
so perhaps 5000 bopd ?

21.07.2005
Emeralds Persistence In Colombia Starts To Pay Off With Production Now Averaging 3,000 Bpd
London-listed Emerald Energy has stuck with its exploration and development projects in Colombia through good and bad times. And that perseverance now appears to be paying off, with current production averaging 3,000 barrels per day - and climbing.

In the parlance of management consultants, this represents a real step change for Emerald, which in 2001-2 was mired in the financial fall-out from a devastating blow-out at its Gigante-1a well in the Matambo contract area in the Upper Magdalena Basin, then the companys sole source of production.

However, following a rescue rights issue and board clearout in August 2003, Emerald has got itself back on track. Gigante-1a has been rehabilitated and production stabilised at around 700 bpd of 32-degree API oil.

And it seems theres still more to play for on this project, which four years almost dragged the company under. Independent consultants reckon the field holds proven, probable and possible reserves of 18 million barrels. Emerald has recently obtained new well and seismic data from a nearby exploration block that is directly relevant to Gigante and this data is being integrated with the latest Gigante production data in order to finalise appraisal drilling plans in the Matambo contract area.

In recent years Emerald has diversified its holdings in Colombia, moving away from the complex geology of the Upper Magdalena Basin to focus on the prolific Llanos Basin. Here the company holds the Campo Rico Contract, where it now has two fields in production.

The Vigia field was put on production a few days ago via the Vigia-1 discovery well, which tested at 700 bpd. The well has now been shut-in for a pressure build up and is shortly expected to resume production at a rate of 1,000 bpd. This is heavy crude about 16-degree API and requires the use of a downhole pump to maintain production rates. Vigia-2 is being prepared for production testing and should start pumping next month while the third well on the deposit is still drilling ahead. First production from Vigia-3 is expected in late August.

Production from the nearby Campo Rico oilfield is also on the rise with the imminent completion of workovers on Campo Rico-2 and Campo Rico-3 to eliminate water ingress. Campo Rico-1 came onstream in May 2004, within 11 weeks of discovery, and pumps around 1,500 bpd of oil. Its expected that wells 2 and 3 will, following the successful workovers, produce at a combined rate of more than 2,500 bpd.

Emerald holds 50 per cent of Rancho Hermoso's El Algarrobo Association Contract area, also in the Llanos Basin. The block lies some 40 km from the Campo Rico field. An exploration well here has been delayed due to unseasonably poor weather between December and March, which hampered construction work on the well site, and will now spud later this year.

The second half will also see the company spud its first exploration well on the Fortuna block, in the Middle Magdalena Valley. The contract area includes the Totumal oil field, which, until it was abandoned in 1993, produced over 800,000 barrels of oil for state oil firm Ecopetrol. Emerald plans to target the Lisama sands that lie on the flanks of the Totumal field and which have produced in fields to the south of the Fortuna block. This is shallow drilling and wells can be sunk for less than US$1 million. The Silfide-1 well, targeting the Lisama sands, will be drilled later this year.

Meanwhile, Emeralds one-country focus may continue for the near time as its plans to expand into Russia have been thrown into disarray - as so many plans in that country do. In November 2004, Emerald entered an all-paper deal to acquire 25 per cent of JSC Krasnoyarskgazprom (KGP) of Russia from Star Capital Research Limited for a consideration of 12 million ordinary shares.

KGP holds exploration rights to the Sobin, Omorin and Beryambin licence areas in Eastern Siberia, where the reserves potential could transform Emerald Energy. The Sobin licence, where more than 50 wells have been drilled to date, is estimated under the Russian system of reserve classification to hold the equivalent of 575 million barrels of oil. The Omorin licence area is currently being explored and, to date, four wells have encountered hydrocarbons. Beryambin is virtually unexplored.
When the proposed transaction was announced, Emeralds chairman Alistair Beardsall said the company, which can boast a board with 30-odd years of experience in Russia, would proceed cautiously with the new venture. That caution is now being demonstrated on news that Gazprom, the Russian gas giant and 75 per cent owner of KGP, plans a capital restructuring of its subsidiary. Until the details of this restructuring are known Emerald, wisely, will not proceed with its investment.

For now, Colombia definitely looks the safer bet...

Emerald's interims are due in 6 weeks. This was the date of last year's announcement:

02/09/04 07:00 Emerald Energy PLC (EEN) Interim Results RNS

Highlights from oilbarrel.com article of 21.07.2005

Emeralds Persistence In Colombia Starts To Pay Off With Production Now Averaging 3,000 Bpd

London-listed Emerald Energy has stuck with its exploration and development projects in Colombia through good and bad times. And that perseverance now appears to be paying off, with current production averaging 3,000 barrels per day - and climbing.


Gigante-1a has been rehabilitated and production stabilised at around 700 bpd of 32-degree API oil. Independent consultants reckon the field holds proven, probable and possible reserves of 18 million barrels.

Emerald has recently obtained new well and seismic data from a nearby exploration block that is directly relevant to Gigante and this data is being integrated with the latest Gigante production data in order to finalise appraisal drilling plans in the Matambo contract area.

The Vigia field was put on production a few days ago via the Vigia-1 discovery well, which tested at 700 bpd. The well has now been shut-in for a pressure build up and is shortly expected to resume production at a rate of 1,000 bpd.

Campo Rico-1 came on stream in May 2004, within 11 weeks of discovery, and pumps around 1,500 bpd of oil. Its expected that wells 2 and 3 will, following the successful workovers, produce at a combined rate of more than 2,500 bpd.

Emerald holds 50 per cent of Rancho Hermoso's El Algarrobo Association Contract area, also in the Llanos Basin. The block lies some 40 km from the Campo Rico field. An exploration well here has been delayed due to unseasonably poor weather between December and March, which hampered construction work on the well site, and will now spud later this year.

The second half will also see the company spud its first exploration well on the Fortuna block, in the Middle Magdalena Valley. The contract area includes the Totumal oil field, which, until it was abandoned in 1993, produced over 800,000 barrels of oil for state oil firm Ecopetrol. Emerald plans to target the Lisama sands that lie on the flanks of the Totumal field and which have produced in fields to the south of the Fortuna block. This is shallow drilling and wells can be sunk for less than US$1 million. The Silfide-1 well, targeting the Lisama sands, will be drilled later this year.

The Company expects to announce its Interim Results for the 6 months to 30 June
2005 on 28 September 2005

from the bottom of Wednesdays RNS so a little more than 6 weeks away

Friday July 22, 12:47 PM
Oil prices rise, supported by revaluation of Chinese yuan

Click to enlarge photo

LONDON (AFP) - Oil prices have risen, supported by a revaluation of the yuan currency Thursday, seen as encouraging Chinese demand for energy from the world's second-biggest consumer of crude.

New York's main contract, light sweet crude for delivery in September, added 47 cents to 57.60 dollars per barrel in electronic deals on Friday.

In London, the price of Brent North Sea crude oil for delivery in September increased 64 cents to 56.36 dollars per barrel.

Read the Investers Presentations

http://www.emeraldenergy.com/

Shows wells to be drilled 2006 and how many.

potential reserves 75million

5 new wells 2006 Campo block etc etc

Emerald Energy says Colombian contractor Ismocol to drill Silfide well
AFX


LONDON (AFX) - Emerald Energy PLC said it has contracted Ismocol, a Colombian drilling contractor, to drill its exploration well, Silfide No 1, to a depth of approximately 5,000 ft in the Fortuna Block in the Middle Magdalena Valley in Colombia.

The rig is currently being mobilized and plans to spud the well on Oct 7.

The Silfide No 1 exploration well will target the, as yet un-drilled, Lisama sands.

Emerald chairman Alastair Beardsall said: 'Silfide No 1 is the first exploration well to be drilled into the Lisama sands on the Fortuna block and will fulfill this year's drilling commitment under the Fortuna Association Contract.'

newsdesk@afxnews.com

nes/

Emerald Energy PLC
05 October 2005


Emerald Energy Plc

Operations Update

Emerald Energy Plc ('Emerald' or the 'Company') is pleased to provide the
following update:

The Company has contracted Ismocol, a Colombian drilling contractor, to drill
its exploration well, Silfide No.1, to a depth of approximately 5,000 ft in the
Fortuna Block in the Middle Magdalena Valley, Colombia. The rig is currently
being mobilized and plans to spud the well on 7 October 2005. The Silfide No.1
exploration well will target the, as yet un-drilled, Lisama sands.

It had previously been announced that Silfide No.1 was to be drilled by Saxon's
Rig No. 222. However the increased activity in the worldwide rig market has
driven rig day rates to a level where the operational advantages of using an
existing contractor's rig did not compensate for the additional costs of using
an over sized rig to drill to the relatively shallow depths for the proposed
well. Under the contract with Ismocol the rig day rate and mobilization charges
are substantially less that those proposed by Saxon.

The Company is currently producing in excess of 4,300 barrels of oil per day
from 5 of its 7 production wells; the remaining 2 wells will be put on
production as the construction of enlarged surface production facilites is
completed.

Alastair Beardsall, Emerald's Chairman, said: 'Silfide No.1 is the 1st
exploration well to be drilled into the Lisama sands on the Fortuna block and
will fulfill this years drilling commitment under the Fortuna Association
Contract.'

Please note the Company's web site at
www.emeraldenergy.com
has been updated
with a copy of the new IFRS accounting policies and the presentation 'Interim
Results to 30 June 2005 & Operation Update'.

Enquiries: Helen Manning 020 7925 2440

05 October 2005

The Presentation pdf shows
All wells planed for 2006, also each field graph of oil reserves,
production graph from Q1 2004 793bopd to Q3 2005 3,611bopd daily average,
Campo Rico Field 2,800bopd
Giante#1 725bopd
Vigia#1 700bopd on reduced rate due to constructing surface facilities for greater
prodution rates, Vigia#2#3 ready for production and will be put on production when facilities completed.
Also 5 new prospects in the Campo Rico block,

http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf

the link not working go to www.emeraldenergy.com
under the Emerald Energy logo click Investers Presentation

have you read Alastair Beardsall Chairman & CEO, of EMERALD ENERGY presentation pdf http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf

It's all there

LLANOS AREA ASSETS
Campo Rico Block.
A.Campo Rico field.
B.Vigia field
C.5 Exploration prospects.

Algarrobo block.
Agueda prospect.

TEA's
Mantecal.
Altamira.
Las Brisas.
Cachama.

Campo Rico Field.
A.3 wells drilled and on production.
B.2p Reserves 5.3 mmbbl.
C.3p Reserves 8.5 mmbl.
D.3d seismic survey of 172 km2 being acquired to evaluate new well locations

VIGIA FIELD.
A.Vigia Field 3 production wells drilled.
B.Vigia#1 producing at 700bopd.
C.Vigia#2#3 Ready for production.
D.Constructing surface facilities for greater production rates.
E.Reserves are being independently Evaluated (pre-drill estimate 11 million
barrels
F Further wells planned after 3D seismic survey has been acquired and interpreted.

Matambo Assoc Contract.
A.Giante#1 Currently producing 725bopd.
B.Giante#2 well is being planned for the future.
C.Fram-Out proposal being prepared to share costs($15-$20m)of Seismic acquisition program and Giante#2 drilling costs.
D.2p Reserves 8.0 mmbbl.
E. 3p Reserves 18.2 mmbbl

EL ALGARROBO
Plan to spud Agueda#1 Q1 2006

Fortuna Assoc Contract
A.Silfide#1 Exploration well to Lisama,to Drill in Q4 2005. (Already Spudded)
B.Drill Silfide#2#3 if well #1 successful
C Planning La Luna Horizontal well in 2006.

Recoverable resources as at 31 December 2004 p+p+p/Potential 75.7 mmbbl.

EXIT 2005 (December)target gross production in excess of 5,000.

And lots more.
the link do not work go to www.emeraldenergy.com under the Emerald Energy
logo click Investers Presentation it's a very good read

Emerald are currently producing over 4,300bopd.

DFGO - I have rad all you refer to and I am puzzled as to why EEN has not performed better - I would reckon an SP of just over 200p was more appropriate. So I guess the wider market carries sentiment that there may still be historical gremlins in the company - although I cannot see any since its rebirth and the management seem excellent.

One niggle is that deal in the ex-soviet territory (forget where) that was never consummated - is that still alive, waiting resolution of the JV partner's capital re-structuring, or is it now buried. My tidy mind (lol!) rather hopes for the latter, since it was a distraction for me.

sd

stockdog

no mention of KGP deal in the presentation,and no RNS to say not still on but we
should soon know one way or other, because it was put back until late December
due to the restructuring, and would need share holder agreement before EEN can
go ahead if deal still on,so a EGM will have to be announced.

DFGO - welcome your (and others') views whether KPG deal good idea or should be allowed to die a quiet death. I like the purity of concentration on Colombia, esepcially if EEN can take advantage of recent T&A concessions being freed up from the likes of Repsol etc (see CHP thread for more details) - is that in the offing do we think?

sd

Copied from moneyam competitor

I hope no one has already posted this from Saturdays MI:-

Emerald Energy - Oil e&p firm eyes strong production growth
(Momentum Investor) Emerald Energy, which has oil exploration & production interests in Columbia, is quietly developing into a company with realistic pretensions of eventually emulating the success of TMI favourites Burren Energy and Dana Petroleum. In spite of a chequered history, which saw a fire severely curtail its original source of production, Emerald has undergone a remarkable transformation following a management clear-out two years ago. Aided by a rescue financing, the new team has discovered six straight successful wells, which has led to a surge in average daily production from 700 barrels oil per day (bopd) to an expected 6,000 by early next year.

Emeralds main asset is its Campo Rico licence (currently 100% owned, although its government partner, Ecopatrol, has the right to take a 50% working interest), which is situated in the highly productive Lllanos Basin, an area covering 503 km, East of the Columbian capital, Bogota. From its very first attempt in March last year, Emerald discovered commercial quantities of oil and with two follow-on appraisal wells also proving successful, production at this field has already reached 2,800 bopd, which is underpinned by proven and probable reserves of 5.3 million barrels.

However, what made investors really sit up and take notice was the discovery of a second field, Vigia, which is situated 11 km east of the original Campo Rico field. Again, Emerald enjoyed success with two further appraisal wells, which means that once new production facilities are built by the end of this year, Vigias three wells should be pumping out nearly 3,000 bopd, taking group production towards the 6,000 bopd mark. At that point, Emerald is also likely to update investors with a very positive reserves report on Vigia, with pre-drill estimates indicating that it holds 11 million barrels.

Emeralds operational health is mirrored by its strong financial position, with net cash standing at US$17m, while its broker Evolution is forecasting pretax profit to quadruple to US$9.2m this year, before rising again to US$12.3m in 2006. These funds will be invested in an active drilling program over the next 18 months including two further development wells at Campo Rico and Vigia and at least three exploration wells. The most exciting is its Fortuna Association contract in the Middle Magdalena Basin, an area just to the North of three producing fields, which holds potential reserves of up to 30 million barrels in relatively shallow waters, which keeps drilling costs quite low. The first exploration well, Silfide 1, a 10 million barrel prospect costing US$1.6m, is due to be spudded imminently.

Emerald will be more forthcoming on other potential exploration targets once it has acquired and interpreted data from a 3D seismic survey, but suffice to say that it has plenty of irons in the fire. One sign of its increasing ambition is its drawn out attempt to acquire a 25% interest in Russian oil firm JSC Krasnoyarskgasprom (KGP), in return for 12 million Emerald shares. KGP holds interests in Eastern Siberia, with Russian classified reserves of 100m barrels of oil and 2.8 trillion cubic feet of gas, which suggests that if Emerald succeeds, this would go down as one of the deals of the century. However, with AIM-listed oil firm Sibir Energy claiming that its assets were stolen by Roman Abramovics former oil company, Sibneft, Emerald may baulk at the risks of doing business in that part of the world.

With the downside protected by its sharply rising production profile and its upside potential underpinned by its extensive exploration prospects, Emerald could prove to be a star performer over the next two years. Buy.