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

Possible breakout above the 3 barrier....the rest of the market doesn't look so good though...let's hope it stays there !

Very bullish upward spikes on this now...

Nice to see it above the 3,though not so sure its a spike, more to do with the oil
section up in general?
cyril

Brief spike up to 315p and then down,....overall, climbing steadily !

Breakout from the 3 area....

Something of interest,
http://www.iii.co.uk/investment/detail?display=discussion&code=cotn:EEN.L&it=le
Takeover fever?
cyril

Drilling in Colombia about to start ?

If you use the iii's link in post 126 you'll get the EVO update, which states
results from KE 5 expected early May and a target price of 420p.
cyril

Fantastic increase since the new year...long may it continue !

RF. yes and its no coincidense thats when i started this thread. To read the lead post says it all,and since we broke the 225p resistance its been on a steady upward trend. With KE 5 come Tuesday will be 42 days into its estimated 60 day
(conservative, KE 4 took 22 of the 30 day estimate), so any day now we should recieve news of this horizontal "production well"?
So what can we expect upon news is open to conjecture, for my part possibly
5000bopd to add to the earlier results making the 10,000bopd mentioned for
year end a very real target. As to the effect on the SP, well short term i feel 360p before settling down and once production commences (Q3) we should see a rise to approaching the 4 and maybe a whole lot more, well worth a punt both short and medium term?
aimo
cyril

Go with the flow?
http://quote.barchart.com/texpert.asp?sym=EEN.LS&code=BEQM
cyril

As i said, go with the flow, now at 340p. News of the production well KE-5 just
days away,could be this week, but my thoughts are next week?
cyril

No stopping this at the moment....or some of the other oil stocks as well...long may it continue !.

The result of the KE-5 horizontal production well is getting closer and closer, and
the SP is responding so i don't see a great reaction to the expected positive result(unless its outstanding),but this steady rise, will give a much more stable feel to the company,something imo which should be welcome.
cyril

Thanks niceonecyril...keep up the good work !

AGM on Thursday 15th May at 11am, so their could be some news releases this week? By the AGM the KH-5 horizontal production well will have taken 51 days since spudding out of the 60 days expected, against 22 days of 30 days for KE-4.

cyril

http://www.investegate.co.uk/Article.aspx?id=20080513070100H8461
Just the news we've been waiting for.
cyril

New well planned immiently and production later in the year(10,000bopd?)
As the headline for this thread, "AMAZING NEWS". What the SP will do today is
depentent on how much was built in already, but for sure its not going down.
cyril

Not too surprised the SP has not moved, it seems to be the norm that the news
was well known, and built in. It of interest now as to whether we get any news
from Colombia prior to the AGM(thursday) which could give added value to the company? EEN has now become a very desirable company to hold in todays climate as its cash position is extremely good.
Since i started this thread back in January it has been possible to have bought at
under 2 which gives a profit of some 75% (with a lot more to come)and had a no brainer written all over it.
aimho
cyril

Ouch !, bubble burst....took me by surprise !,....most oilies down !