Emerald Energy Regulatory News (EEN)

13 Apr 2005 07:00

Emerald Energy PLC13 April 2005 Emerald Energy Plc ("Emerald" or the "Company") Drilling Report Emerald is pleased to provide the following update: The Company has completed the drilling of Vigia #1, an exploration well some 11km to the east of the Campo Rico field, to test the hydrocarbon potential of astructure identified by seismic acquired in 2003. The well was drilled to adepth of 11,120 ft. During the initial drill stem tests, the well produced 16 degrees API crude oilfrom two separate zones. Under natural flowing conditions the well produced at arate of 440 bopd from the Une sand and at a rate of 260 bopd from the LowerGacheta sand. Approval will be sought for a long-term production test of Vigia #1 that willpermit early production from this well. The long-term test production will becarried out using a downhole pump that will increase the production ratesachieved during initial tests significantly. Following the completion of Vigia #1 for long term testing, the Company will use the Parker 222 drilling rig todrill the Vigia #2 appraisal well. Alastair Beardsall, Emerald's Chairman, said: "The discovery of the Vigia field,just 11 km away from the producing Campo Rico field, will give Emerald asignificant increase in oil production and an opportunity to use the experiencewe have gained in the development of the Campo Rico field." "bopd" means barrels of oil per day Enquiries: Alastair Beardsall 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange