Emerald Energy Regulatory News (EEN)

15 Sep 2006 07:16

Emerald Energy PLC15 September 2006 Emerald Energy Plc FOR IMMEDIATE RELEASE 15 September 2006 Exploration and Production Contract Award in Colombia Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that ithas been awarded a new exploration and production contract ("Contract") inColombia. The Maranta Contract, in which Emerald has a 100% working interest,covers an area of 365 sq. km and is located north-east of the producing oilfields in the Putumayo Basin in south-west Colombia. The initial phase of the exploration period will be 18 months and the minimumwork programme comprises the acquisition of 30 km of new 2D seismic data and there-processing of 40 km of existing 2D seismic data. If Emerald elects to enterthe second phase, the minimum work programme includes the drilling of 1 well toan estimated depth of some 11,000 ft. The Maranta Contract has been awarded by the National Hydrocarbon Agency ofColombia ("ANH"), and a copy of the model contract terms can be found on the ANHwebsite (www.anh.gov.co). Emeralds' Chairman, Alastair Beardsall, said: "We are very pleased with the award of our first ANH E&P Contract in Colombia.The addition of prospective acreage in a proven petroleum system offers furtherpotential to build on the successful development of the Campo Rico, Vigia andCentauro Sur fields in recent years." Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange