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13 May 2008 06:00
Emerald Energy Plc
13 May 2008
Khurbet East Field Update, Block 26, Syria
Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update on activities in the Khurbet East field in Block 26, Syria.
Khurbet East No.5, the first horizontal development well in the Khurbet East field, has been drilled with a 300 metre horizontal section in the Cretaceous Massive reservoir and is suspended as the fourth production well available for production from the Massive. The installation of the early production facilities to gather the production from the Massive production wells is scheduled for completion by the fourth quarter of 2008.
Well testing operations were conducted and during a 6 hour flow period, oil flowed to surface under natural flow at an average rate of 2,041 barrels per day through a 24/64 inch choke. The flow rate was restricted by the well testing equipment, resulting in a pressure drawdown of less than 10 psi at the reservoir. Preliminary analysis of the downhole pressure data indicates the same excellent reservoir properties as seen in the other Khurbet East wells.
At least one further horizontal producer well is planned to be drilled to the Massive reservoir resulting in 3 vertical and 2 horizontal producer wells to be operational during the initial phase of production from the field.
Emeralds' Chief Executive Officer, Angus MacAskill, said:
"We are very pleased with the results of this well, confirming the high productivity achievable from horizontal completions in the Massive reservoir and look forward to materially higher production rates following the configuration of the well for production and the installation of early production facilities."
Enquiries: Lisa Hibberd 020 7925 2440
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