Emerald Energy Regulatory News (EEN)

7 Dec 2006 07:12

Emerald Energy PLC07 December 2006 Emerald Energy Plc 7 December 2006 Operations Update - Syria Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide an updateon activities within Block 26, Syria, following the release of this informationby the Operator. The Tigris No.1 exploration well is currently at a depth of 3,546 metres, havingrecently set nine and five-eighths inch casing at 3,435 metres. The well haspenetrated the top of the Palaeozoic geologic section below which the Companyholds contractual rights. Tigris No.1 was spud on 10 September 2006, has aplanned total depth of approximately 4,500 metres and is estimated to take afurther 45 days to drill and evaluate with wireline logs. Tigris No.1 is the second of four commitment wells to be drilled during theinitial exploration phase of the contract for Block 26 that ends in August 2007. The previously announced programme to acquire 266 kilometres of 2D seismic inBlock 26 has been completed and is currently being processed in preparation forinterpretation. Emeralds' Chief Executive Officer, Angus MacAskill, said: "We are pleased to be making continued progress with the Tigris No.1 well andwith the completion of the acquisition of further seismic to optimise theremaining work programme" Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNGOverseas Ltd. Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange