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23 Apr 2009 07:00
Emerald Energy Plc
23 April 2009
Operations Update - Syria, Block 26
Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the following update on operations in Block 26, Syria.
Khurbet East No.8 Well
Khurbet East No.8, the delineation well located 2.7 kilometres to the south of the Khurbet East No.1 well to investigate reservoir properties and the oil-water contact in the south of the field, encountered a 23 metre gross oil column (15 metre net) within the Cretaceous Massive reservoir. The top of the reservoir was encountered at 1,940 metres, approximately 18 metres shallower than the pre-drill prediction.
Wireline logging indicated an average porosity in the net oil bearing interval in excess of 23%. However, a definitive oil-water contact could not be identified as the porous oil-bearing reservoir lies directly above a low porosity and low permeability interval.
An open-hole flow test conducted over the full reservoir interval using nitrogen injection artificial lift resulted in limited amounts of oil being produced to surface, indicative of poorer reservoir quality in this location than encountered in the central part of the field.
Following an acid stimulation operation on the open-hole reservoir section, the well produced, using artificial lift, 23 degree API oil at an average rate of 617 barrels per day over an 8 hour period with a water-cut of less than 2%. Under natural flow, the well flowed at an average oil rate of 120 barrels per day over a 12 hour period through a 40/64 inch choke with a water-cut of 1%.
The Khurbet East No.8 well will be suspended as a future oil producer.
The results of the Khurbet East No.8 well are being integrated into the data set for the Khurbet East field and the updated reserves evaluation being made by RPS Energy, the independent reserves engineers, is expected to be completed before the end of the second quarter 2009.
Khurbet East No.9 Well
Drilling operations commenced on the Khurbet East No.9 well on 9 April 2009. The Khurbet East No.9 well, located approximately 1.0 kilometres south of Khurbet East No.1, is the first of three development wells planned to support the expansion of the early production facilities capacity to 18,000 barrels per day. This additional capacity is expected to commence operations in the third quarter of 2009.
3D Seismic
Acquisition of the 850 square kilometre 3D seismic survey surrounding the Khurbet East and Yousefieh fields is progressing on schedule with completion expected in the second quarter 2009. The data will be processed in the third quarter, followed by seismic interpretation and prospect definition in the fourth quarter 2009.
Emerald's Chief Executive Officer, Angus MacAskill, said:
"We are pleased with the results of the Khurbet East No.8 well with the oil-bearing reservoir encountered in this location being materially thicker than expected and the stimulation and testing operations demonstrating that oil can be produced at commercial rates from areas where the reservoir quality is less than the exceptionally high quality seen in the centre of the field."
Enquiries: Lisa Hibberd 020 7925 2440
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