Emerald Energy Regulatory News (EEN)

7 Apr 2008 07:57

Emerald Energy PLC07 April 2008 Emerald Energy Plc7 April 2008 Agerato Exploration and Production Contract Award in Colombia Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that ithas been awarded a new exploration & production contract in Colombia. TheAgerato Contract, in which Emerald has a 100% working interest, covers an areaof 170 sq. km and is located in the Putumayo Basin in south-west Colombia,approximately 75 km to the south-east of the Company's Maranta exploration &production contract area. The initial phase of the exploration period is 12 months and the minimum workprogramme comprises the acquisition of 35 km of new 2D seismic data and there-processing of 40 km of existing 2D seismic data. Emerald expects theprospective depths to be relatively shallow, at approximately 7,000 ft. Thesecond phase of exploration, if entered, would include the drilling of a well. The Agerato Contract has been awarded by the ANH, the National HydrocarbonAgency of Colombia, and a copy of the model contract terms can be found on theANH website (www.anh.gov.co). Emeralds' Chief Executive Officer, Angus MacAskill, said: "We are very pleased with the award of this new contract, building our positionin the prospective Putumayo Basin and increasing our activities under the ANH E&P Contracts. During the first phase we will acquire and interpret data todetermine the potential for exploration drilling in the area." Enquiries: Richard Konn 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange