Emerald Energy PLC
11 September 2006
Emerald Energy Plc
FOR IMMEDIATE RELEASE 11 September 2006
Operations Update - Syria
Emerald Energy Plc ("Emerald" or the "Company") is pleased to announce the
commencement of drilling on the Tigris prospect within Block 26, Syria.
The Tigris structure is located in the northeast region of Block 26 directly
underlying the Souedieh Field, the largest known oil field in Syria. The Tigris
No.1 exploration well is expected to take 90 to 120 days to drill and evaluate.
It will be a vertical well drilled to an approximate depth of 4,500 metres.
Tigris No.1 will be the second well to penetrate the Carboniferous and Devonian
aged reservoirs of the Tigris structure. The S1100 well, drilled in 1994 by the
Syrian Petroleum Company and located approximately 1 kilometre northeast of the
Tigris No.1 well, was the first well to intersect these reservoirs within this
structure. Independent interpretation of the wireline logs from the S1100 well
indicates a substantial hydrocarbon column.
Ryder Scott Company, L.P. completed a reserves study and valuation of the
potential Probable and Possible reserves (unrisked) for the Tigris structure in
Block 26, Syria; these reports can be viewed on Emeralds' website at
www.emeraldenergy.com.
Tigris No.1 is the second of four commitment wells to be drilled during the
initial exploration phase of the contract for Block 26 that ends in August 2007
Emeralds' Chairman, Alastair Beardsall, said:
"We believe the data from the S1100 well indicates Tigris contains hydrocarbons;
the drilling and testing of Tigris No.1 will determine if the mapped reservoirs
contain sufficient reserves that can be produced at commercial flow rates for
the Tigris structure to be developed. In addition to Tigris, a number of leads
and prospects are being evaluated, the best of which will be selected for our
future drilling program."
Emerald holds a 50% interest in Block 26 through its fully owned subsidiary SNG
Overseas Ltd.
Enquiries: Helen Manning 020 7925 2440
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.