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5 Nov 2008 10:25
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The following amendment has been made to the Drilling Report announcement released on 5th November 2008 at 07.50 under RNS No. 4600H.
Yousefieh-1 commenced drilling on 6th October, not 6th September.Β
All other details remain unchanged.
The full amended text is shown below.
Emerald Energy Plc
5Β NovemberΒ 2008
Yousefieh No.1 Exploration WellΒ Update,Β Block 26,Β Syria
Emerald Energy Plc ("Emerald" or the "Company") providesΒ the following update onΒ progress in the Yousefieh No.1 exploration wellΒ in Block 26,Β Syria, following notification from the Operator.
The commencement of drillingΒ operationsΒ onΒ theΒ YousefiehΒ No.1Β explorationΒ well, with an expected total drilling depth of 2,300 metres, was announcedΒ on 6thΒ OctoberΒ 2008.Β
Oil shows were observed while drilling a target Cretaceous formation at approximately 1,940 metres. Coring operations were conducted andΒ the recovered coresΒ indicatedΒ the presence of oil in the formation.
The remaining programme, which will include drilling to the expected total drilling depth of 2,300 metres, wireline logging and possiblyΒ production testing, is expected to takeΒ up to two weeks to complete.
Emerald'sΒ Chief Executive Officer, Angus MacAskill, said:
"While encouraging, the results to date are not sufficient to determine at this point either the size or commercial potential ofΒ anΒ oil accumulation. We look forward to the results of the complete data acquisition programme in this well."
Enquiries:Β Lisa HibberdΒ 020 7925 2440
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