Emerald Energy Regulatory News (EEN)

30 Oct 2006 07:01

Emerald Energy PLC30 October 2006 Emerald Energy Plc FOR IMMEDIATE RELEASE 30 October 2006 3D Seismic Acquisition over Gigante Field Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce that ithas awarded the contract for the acquisition of 3D seismic at the Gigante fieldin the Upper Magdalene Valley in Colombia to Compania Geofisica Latinoamericana("CGL"). Under the contract, 58 square kilometres of full fold 3D seismic willbe acquired over the Gigante field. The acquisition will commence shortly and isplanned to take approximately 2 months, with processing taking up to a further 4months. The 3D acquisition is planned to confirm Emerald's structural interpretation ofthe field and to assess the potential for further development, including thedrilling of Gigante #2. In particular, the 3D seismic interpretation isanticipated to reduce the risk in locating any future development wells. The Gigante field has produced 2.2 million barrels of oil from a singleproducing well, Gigante 1A, since commencing production in 1999. A presentation entitled "58km2 3D seismic programme, Gigante field" may be foundon the Company's website at www.emeraldenergy.com Emeralds' Chairman, Alastair Beardsall, said: "The acquisition of 3D seismic over the Gigante field is a significant stepforward, allowing us to better image the reservoir, reduce mapping uncertaintyof the structure, and plan the best way to realise the potential of this field." Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange