Emerald Energy Regulatory News (EEN)

28 Mar 2006 07:04

Emerald Energy PLC28 March 2006 Emerald Energy Plc FOR IMMEDIATE RELEASE 28 March 2006 Operations Update - Colombia Emerald Energy Plc ("Emerald" or the "Company") would like to provide thefollowing update: Exploration El Algarrobo block (Emerald 50% working interest, operated by Rancho Hermoso): Exploration well Agueda No.1 has been cased and perforated. During the flowtest, no hydrocarbons were recovered. The well will be plugged and abandoned.Saxon Rig 223, used in drilling Agueda No.1, is now moving to the Campo Ricoblock to drill the Las Acacias prospect located south west of the Vigia field. Centauro Sur prospect: Pride Rig 14, drilling the Centauro Sur No.1 exploration well, is currentlydrilling ahead at 7,401ft. Alastair Beardsall, Emerald's Chairman, said:"After seven successful wells the dry hole at Agueda #1 is naturally adisappointment. With a 50% working interest and the target reservoir beingrelatively small, this unwelcome result will have only a limited effect on thegrowth in our Colombian operations." Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange