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

Here are some highlights of EEN for newcomers to the share. DYOR:

1) Recently promoted to FTSE small cap index: http://www.ftse.com/tech_notices/2005/q4/FTSE_UK_Review.xls

2) Producing, profitable with net cash on the balance sheet.

3) Increased production and just about doubled production in each of the last 3 half years. Likely to end the year producing 6,000 bpd with likely more to come from the new Silfide #1 well and further drilling in Campo Rico early next year.

4) New management since mid-2003 who are getting on with the job in a steady way, in sharp contrast to the previous management

5) Drilled 6 wells this year and struck commercial oil in each and every one of them

6) 3P resources of c.26m barrels. Potential of a further 49m bbl. Excluded from these numbers are the potential resources from their Gigante field which was assessed by Schlumberger to contain >900m barrels of oil in place (this will factor down to say 80-300m barrels of recoverable oil). Gigante is currently producing around 725 bpd. http://www.emeraldenergy.com/docs/2005-Interim-Results-Presentation.pdf and http://www.emeraldenergy.com/docs/f_interim_97.htm

7) Recently done a deal with Gulfsands Petroleum to partner in exploring Block 26 in Syria. Gulfsands is doing seismic investigation as we speak, and early indications are that there might be 1bn barrels of recoverable oil. http://www.emeraldenergy.com/docs/Presentation-2005-Nov-Aquisition4Growth.pdf

8) At a recent oil barrel conference, Gulfsands showed their estimates of the prospectivity of the Block. This showed potential resources of >1bn barrels. EEN would have a share of 25% of this. Thats around 4 barrels for each EEN share. http://www.oil-barrel.com/conference/nov/gulfsands.pdf

9) They also hold Technical Evaluation Agreements for more areas of Columbia, that could well prove up.

6000 bpd by end 2005 and possible 10000bpd by end 2006 could mean a share price of between 1000p and 3000p with a 18 month time frame ie a possible 2000 billion company..is this achievable..?

im hopeing for 450-650 if we getsome good results with gulfsands. een are looking outside columbia for new prospect, its a Very exspensiVe time to buy into new acreage ,they may be able to get some of Vog,s action cheap.

Good strong open, with 2 clearly broken, looking for gains to 2.50 initially.

any chartist out there can see 250p but uncharted terrotory after than

mitzy getting carried away a bit ? when do you get your ratio's from ?

Hi gordon.
Been in since Sept and great to see the sp responding in a positive way.. just trying to think ahead where the price will be in 12 months time and the Syria deal looks like it may be the saviour for Emerald .I will be happy with 300-400p in 12 months.

mitzy
copies of my post on adxvn

DFGO - 14 Dec'05 - 18:29 - 4703 of 4713 edit


tone

Just read your post 4568 ref output for year end, daily not AVERAGE

CR#1#2#3 combine output 4,000bopd, imo CR#1 output will be reduced from 1,800bopd to protect the reservoir, the combined output will still increase over a period of time to about 4,650bopd combined output but could decrease when CR#4 put into production.

Vigia#1#2#3 combined output at year end provide facilities completed 2,100bopd, imo the combined output will increase substantially by over the next 6 months to somewhere between 5,000 to 7,000bopd combined rate and could be more.

Giante#1 725bopd

My estimated daily output not Average for year end 6,825bopd provided Vigia
falcilties completed.



DFGO - 14 Dec'05 - 23:00 - 4712 of 4713 edit


tone

My estimated for 2006 year 14,725bopd including CR#4 V#4 but not silfide#1

CR#1#2#3 combine output 4,200bopd
Vigia#1#2#3 combined output 6,300bopd
Giante#1 725bopd
CR#4 V#4 combined output 3,500bopd these are development wells

The reason CR#1#2#3 and V#1#2#3 bopd figures are reduced from previous post
is to allow for protecting the stability of the reservoir.

I'm sure vavooom2 will explain the technical reasons and possibly say if my figures are to high for CR#1#2#3 and V#1#2#3 and are likely to damage the reservoir?.

Plus Silfide 250 - 500bopd
Plus Agueda#1 if successful
Plus Silfide #2#3 If successful
Plus Totumal La Luna Horzontal If Successful
Plus 3 Campo Rico exploration wells
plus Vigia sur-1 this is a A1 well which i believe to be a appraisal/development well so would expect it to produce oil

Campo Rico#1 and Vigia#1 was A3 Exploration wells, CR#1#2#3#4 and V#1#2#3#4 all A1 appraisal/development wells

I also believe should thy be successful with Agueda#1 and it's light oil
will drill more wells there in 2006 directionaly

but as always dyor

mitzy
copies of post adxvn

DFGO - 14 Dec'05 - 18:29 - 4703 of 4713 edit


tone

Just read your post 4568 ref output for year end, daily not AVERAGE

CR#1#2#3 combine output 4,000bopd, imo CR#1 output will be reduced from 1,800bopd to protect the reservoir, the combined output will still increase over a period of time to about 4,650bopd combined output but could decrease when CR#4 put into production.

Vigia#1#2#3 combined output at year end provide facilities completed 2,100bopd, imo the combined output will increase substantially by over the next 6 months to somewhere between 5,000 to 7,000bopd combined rate and could be more.

Giante#1 725bopd

My estimated daily output not Average for year end 6,825bopd provided Vigia
falcilties completed.



DFGO - 14 Dec'05 - 23:00 - 4712 of 4713 edit


tone

My estimated for 2006 year 14,725bopd including CR#4 V#4 but not silfide#1

CR#1#2#3 combine output 4,200bopd
Vigia#1#2#3 combined output 6,300bopd
Giante#1 725bopd
CR#4 V#4 combined output 3,500bopd these are development wells

The reason CR#1#2#3 and V#1#2#3 bopd figures are reduced from previous post
is to allow for protecting the stability of the reservoir.

I'm sure vavooom2 will explain the technical reasons and possibly say if my figures are to high for CR#1#2#3 and V#1#2#3 and are likely to damage the
reservoir?.

Plus Silfide 250 - 500bopd
Plus Agueda#1 if successful
Plus Silfide #2#3 If successful
Plus Totumal La Luna Horzontal If Successful
Plus 3 Campo Rico exploration wells
plus Vigia sur-1 this is a A1 well which i believe to be a appraisal/development well so would expect it to produce oil

Campo Rico#1 and Vigia#1 was A3 Exploration wells, CR#1#2#3#4 and V#1#2#3#4 all A1 appraisal/development wells

I also believe should thy be successful with Agueda#1 and it's light oil
will drill more wells there in 2006 directionaly

but as always dyor

,

.

this is a dog...69p in 2006

Then sell it and short it then.

seems to be holding on to this level needs the production news b4 end of year imho to maintain momentum else it will slip back if nothing herd bymid jan

I know I can rely on Pizza. He is so perceptive. It will rise by 69p (or more)in one day in 2006.

Meanwhile it has taken nearly 2 months to do that (or 62p:-) from 19th October 2005 . Of course a 62p rise from 155p is much more in % terms than 69p from 4.. but Pizza already knows it is going over 4.. He's just deramping so he can buy more shares more cheaply.

It is a dog: a pedigree grayhound.....

EEN is a pedigree shit..best short of 2006

Go ahead: short it. Try 1000 per point. We will not regret it.:-) You will.

madasafish,

Why not enable the email facility here?

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Would like to ask you a question.

Andy. (ex iii )

I think you're on the wrong thread Pizzagod!

HAS ANYONE READ THE RECENT EVO REPORT ??? HAS A RISKED INDEXED TARGET OF 305P TO INCLUDE SYRIA AQUISTION