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19 May 2008 07:00
Emerald Energy Plc
19 May 2008
Operations Update
Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update on development operations in Syria and Colombia.
Syria
Drilling of the Khurbet East No.6, the second horizontal development well in the Khurbet East field, has commenced. It is designed as a horizontal producer in the Cretaceous Massive reservoir and is expected to take approximately 50 days to drill and evaluate. The well will then be completed and suspended as the fifth oil producer available to commence production after the installation of an early production facility, scheduled to commence operation by the fourth quarter of 2008.
Colombia
Drilling of the Vigia No.5 development well in the Vigia field, has commenced. This well is designed as an oil producer targeting the Cretaceous Une and Gatcheta reservoirs higher in the structure than the existing three oil producer wells. It is expected to take approximately one month to drill and evaluate and will then be completed and connected to the production facilities in the Vigia field. Following the completion of activities on the Vigia No.5 well, the rig will proceed to drill the Campo Rico No.5 development well in the Campo Rico field.
Emeralds' Chief Executive Officer, Angus MacAskill, said:
"We are pleased with the continued progress in development of the Khurbet East field in Syria and with the commencement of our active development and exploration drilling programme for 2008 in Colombia."
Enquiries: Lisa Hibberd 020 7925 2440
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