Emerald Energy Regulatory News (EEN)

20 Nov 2007 07:01

Emerald Energy PLC20 November 2007 Emerald Energy Plc 20 November 2007 Khurbet East No.3 Well Update, Block 26, Syria Emerald Energy Plc ("Emerald" or the "Company") would like to provide thefollowing update on activities in Block 26, Syria. The drilling of the Khurbet East No.3 well has commenced using the MB-3 rig.Khurbet East No.3 is located approximately 0.9 kilometres southwest of theKhurbet East No.1 discovery well and 1.2 kilometres south of the Khurbet EastNo.2 appraisal well and will further appraise the Cretaceous aged Massivereservoir encountered in these wells. The drilling of this well will assist in the planning of early development ofthe Massive reservoir in the Khurbet East field with first production targetedfor the second half of 2008. Khurbet East No.3 is expected to have a total drilling depth of approximately2,050 metres and take approximately 45 days to drill and evaluate. Emeralds' Chief Executive Officer, Angus MacAskill, said: "The start of operations on this well, combined with the recently announcedcommencement of the 3D seismic acquisition programme, marks continued progresstowards early development of the Khurbet East field." Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNGOverseas Ltd. Enquiries: Lisa Hibberd 020 7925 2440 This information is provided by RNS The company news service from the London Stock Exchange