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22 Jul 2008 07:00
Emerald Energy Plc
22 July 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.
Production in the Khurbet East field commenced on 21st July with oil production from the Khurbet East No.4 well, the first to be connected to the early production facility.
Operations will continue with the connection of the Khurbet East No.5 and Khurbet East No.6 wells to the early production facility, and the re-entry, completion and connection of the Khurbet East No. 2 and Khurbet East No. 3 wells. These operations are expected to take place over several weeks.
An update on production rates will be provided at a later date when these operations have completed and production levels have stabilised.
Emeralds' Chief Executive Officer, Angus MacAskill, said:
"We are delighted with reaching this milestone of first production from the Khurbet East field, following a rapid development made possible by the co-operation of the co-venturers, the Syrian Petroleum Company, and the Syrian Government, and we look forward to the stabilising of production levels over the next few weeks following the connection of the remaining four production wells."
Enquiries: Lisa Hibberd 020 7925 2440
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