http://emerald-energy-een.blogspot.com/


I decided to start this thread due to the lack of interest via the other thread?
Today EEN with its partner GPX released what can only be described as outstanding news, a 3rd appraisal well in a field couple of kms across flowed 3420bo on a small choke, unaided and they still have not found the limits of this field. Reserves will released in the next 3 weeks and could go as high as 100mbo(speculative).
The market has yet to digest this latest news and imo the SP is still in the bargain range?

http://www.emeraldenergy.com
http://www.investegate.co.uk/Article.aspx?id=200812220700095529K
http://www.investegate.co.uk/Article.aspx?id=200901260700092060M
http://www.emeraldenergy.com/documents/20090126EENInvestorPresentation.pdf/
http://www.investegate.co.uk/Article.aspx?id=200902110700131142N
http://www.emeraldenergy.com/documents/EEN2008Results.pdf
http://www.investegate.co.uk/Article.aspx?id=200905060700127309R
http://www.emeraldenergy.com/documents/EENInvestorPrentation/May2009.pdf

cyril

RF i used to think that, but i turns out its not straight forward when convertable
loans are involved. Very happy with todays SP which at 248p is its best in many a long day.
RF hope your happy with CDN?
cyril

Been in EEN for years now, at the moment no intention of selling, staying put until at least production in Syria, as far as CDN : thanks for the tip (Tom Winnifriths) (I hope that's the way his name is spelt) is tipping it as well; I took some profits a short while ago (I know I should have stayed put) and bought some NOP (Northern Petroleum with the profits), and that's starting to rise as well; I just can't buy them all!

Looks like we are setting up basecamp !

Chavez has sent troops to the border with Colombia, hope this will not affect EEN, could send Oil even higher though !

Reduced my holdings this am as i'm a little worried about the market.
Some hope here?
http://www.ameinfo.com/77555.html
cyril

22p rise today and more to come still playing catchup with GPX

GPX shares in issue 111.09mil Market cap 195mil
EEN shares in issue 59,59mil Market cap 153.15mil Colombia Assets eqiv to GPX
Mexico Assets and Block 26 Syria 50% share each

22p rise today and more to come still playing catchup with GPX

GPX shares in issue 111.09mil Market cap 195mil
EEN shares in issue 59,59mil Market cap 153.15mil Colombia Assets eqiv to GPX
Mexico Assets and Block 26 Syria 50% share each

niceonecyril

KE#4 well News due around about 14th March

Not the time to reduce holdings in oil companies niceonecyril !

Here's the news a bit earlier than expected (no testing), a horizontal well next.
http://www.investegate.co.uk/Article.aspx?id=20080306070200H8472
RF true,i'm quite happy with my holdings in EEN,it was a wider market that i worried about?
cyril

EEN's RNS, "1st Production later in the year" from this field.
http://www.investegate.co.uk/Article.aspx?id=200803060700484715P
I will add this to the header post.
cyril

We have now left base camp !

up another 9.75p today plus 22p yesterday = 31.75p in 2 days

posted twice

The Khurbet East No.4 well, the first well to be drilled in the development
phase of the field, has been successfully drilled, completed, and suspended as
an oil producer.

Khurbet East No.4 will be a producer in the first development phase of the field
involving the installation of an early production facility, scheduled to commence operation by the fourth quarter of 2008.


The well, located 150 metres away from the Khurbet East No.1
well, was drilled to a total depth of approximately 1,935 metres and encountered
the top of the Cretaceous Massive reservoir within 3 metres of the expected
depth.

Khurbet East No.5 will be first horizontal well in the field


The next well in the development phase, Khurbet East No.5 is designed to be the
first horizontal well in the field and is expected to commence drilling in the
middle of March 2008.

Yes and with production from Syria due in 4th Quarter from KH4, with Kh5
not to far behind with its extra output from the horizontal, we can
expect some real movement in the SP.
cyril

Express

SHARE WHISPER: Gulfsands Petroleum (LSE: GPX.L - news) (traders believe the company's Syrian oilfields may go into production much earlier than expected - perhaps as soon as early in the second half of this year)



http://uk.biz.yahoo.com/11032008/323/thomson-financial-uk-glance-share-guide.html

This stock is gathering momentum, theirs a whisper in the Express that production
will come sooner, maybe 2ndQ?
cyril

Gulfsands Petroleum And Emerald Energy Really Are Fast-Tracking Development Of Their Major Syrian Discoveries
We already know that Londons AIM-quoted Gulfsands Petroleums decision to enter Syria for green field exploration - a diversification from its projects in the US and the Maysan Gas Project in Southern Iraq - has been more than vindicated. The company owns a 50 per cent interest in the 8,250 sq km Block 26 in North East Syria. Fellow AIM company Emerald Energy owns the other 50 per cent (Gulfsands signed up in 2003 and was joined by Emerald in 2005).

There had been discoveries in the block but it did not seem particularly prospective for outsiders back then and there were a couple of disappointing wells. But the partners stuck with it.

The Khurbet East (KHE- 1) well drilled in the second quarter of 2007, was a multi-zone discovery flowing 35-degree API oil from the Triassic-aged Kurrachine Dolomites, natural gas from the Triassic-aged Butman 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 while the KHE-3 confirmed that capability, testing at 3,420 bpd of 26 degree API oil from the Massive Formation. The initial development will only target 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.

We now know the partners are moving very fast in terms of development. The KHE-4 well was drilled to a total depth of approximately 1,935 metres, and the top of the reservoir section was encountered within 3 metres of the pre-drill prognosis. The well has been completed and suspended as a future oil producer and will be brought on line when the Khurbet East Production facility is operational.

The Syrian authorities, perhaps unusually, have also moved fast giving their approval for development of the field. The partners now plan to further fast track the development using three horizontal wells and an early production system (EPS). It hopes to get a 10,000 bpd-capacity EPS up and running by the fourth quarter of this year.

Thats less than two years after discovery with plans for a full field development facility the following year with a production capacity of 30,000-40,000 bpd. The benefit of the EPS is that it will provide valuable information about reservoir performance to help redesign the full field facilities as well as generating cash flows to pay for the full field development

http://www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1205200800&feed=oilbarrel_en