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21 Jan 2009 08:00
Emerald Energy Plc
Yousefieh No.2 Appraisal Well Drilling Commences
Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update on operations in Block 26, Syria.
Drilling operations have commenced at the Yousefieh No.2 appraisal well, located approximately 1.8 kilometres east of the Yousefieh No.1 discovery well announced in November 2008.
The Yousefieh No.1 discovery well encountered approximately 63 metres of net oil pay in the Cretaceous aged reservoir and flowed oil to surface at a rate of 900 barrels per day, under natural flow, during a production test of a 19 metre interval at the top of the reservoir.
The Yousefieh No.2 appraisal well is planned to be drilled to a total depth of approximately 2,060 metres and take 45 days to drill and evaluate. The well will target the same Cretaceous reservoir as encountered in the Yousefieh No.1 discovery well but close to the currently interpreted eastern limit of this stratigraphic accumulation. The Company expects that a significantly thinner reservoir section will be encountered at this location but it is believed that the information on lateral variations in reservoir characteristics such as reservoir facies, porosity and permeability will assist in refining understanding of the reservoir and determining development plans.
The Yousefieh discovery is located close to existing infrastructure, with the Yousefieh No.1 surface location approximately 3 kilometres from the production facilities in the Khurbet East field.
Emerald's Chief Executive Officer, Angus MacAskill, said:
"We are pleased to be progressing rapidly with the appraisal of this exciting discovery and look forward to the outcome from the first appraisal well."
21 January 2009
Enquiries: Lisa Hibberd 020 7925 2440
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