Emerald Energy Regulatory News (EEN)

20 Jul 2005 09:45

Emerald Energy PLC20 July 2005 Emerald Energy plc Operations Update Today, at a presentation to fund managers and analysts, Alastair Beardsall,Emerald's Chairman provided the following update: "Since our last report at the Company's AGM the following progress has beenmade: •Vigia #1 well was put on production a few days ago and was tested at 700 barrels oil per day before being shut-in for a pressure build-up. Vigia #1 is expected to produce at 1,000 barrels of oil per day. •Vigia #2 is being prepared for production testing and is expected to be on full production in August. •Vigia #3 is being drilled and should reach its planned total depth early next month. First production is anticipated late August. •The workover of well Campo Rico #2 is now complete; the well has been put on production and is currently cleaning-up. •The workover of Campo Rico #3 is underway and is expected to return to production by the end of July. •Production from Emerald's fields for 2nd quarter 2005 averaged 2,796 barrels oil per day and currently production averages 3,000 barrels of oil per day We plan to spud 2 more exploration wells this year, one on El Algarrobo and theother on the Sulfide prospect within the Fortuna Bock" The Company expects to announce its Interim Results for the 6 months to 30 June2005 on 28 September 2005 ContactEmerald Energy plcHelen Manning Tel 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange