Emerald Energy Regulatory News (EEN)

19 Feb 2007 07:00

Emerald Energy PLC19 February 2007 Emerald Energy Plc Drilling Update: Khurbet East No.1, Block 26, Syria Emerald Energy Plc ("Emerald" or the "Company") would like to provide thefollowing update on activities in Block 26, Syria. The Khurbet East No.1 exploration well has been spud by the Crosco 602 rig. TheKhurbet East prospect is a fault-bound structural culmination, with closuremapped at several potential reservoir levels including Cretaceous, Triassic andPalaeozoic ages. The Block 26 partners have exploration rights in all reservoirlevels in this prospect. The Khurbet East prospect is located approximately 12 kilometres southwest ofthe Souedieh Oil Field and 12 kilometres south of the Roumelan Oil Field. The total drilling depth of the Khurbet East No.1 well is expected to be 3,700meters and will require approximately 100 days to drill and evaluate. The fourth commitment well in the block is planned to be drilled by the MB3drilling rig when it returns from drilling wells for the rig-share partner. Therig is expected to return around July 2007. Emeralds' Chief Executive Officer, Angus MacAskill, said: "We are pleased to be progressing with the exploration activity in Block 26 andlook forward to the outcome of the Khurbet East No.1 exploration well." Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNGOverseas Ltd. Enquiries: Helen Manning 020 7925 2440 19 February 2007 This information is provided by RNS The company news service from the London Stock Exchange