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30 Sep 2008 12:17
Emerald Energy Plc
30 September 2008
Khurbet East Field Update, Block 26, Syria
Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update on activities in Block 26, Syria, following notification from the Operator.
Oil production from the Khurbet East field continues at levels of approximately 11,500 barrels per day and these levels are expected to continue until the end of 2008.
As a result of the early field performance, work is now underway to expand the capacity of the processing facilities to 18,000 barrels per day as an interim expansion prior to the full field development of the Khurbet East Field. This interim expansion of capacity is expected to be implemented by the end of 2008.
Emeralds' Chief Executive Officer, Angus MacAskill, said:
"We are very pleased with the early performance of the Khurbet East field which has exceeded expectations, and look forward to the results of the interim expansion of the facilities processing prior to full field development."
Enquiries: Lisa Hibberd 020 7925 2440
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