Emerald Energy Plc

FOR IMMEDIATE RELEASE

Emerald Energy Plc

19 March 2007

Jacaranda Exploration and Production Contract Award in Colombia

Emerald Energy Plc (“Emerald” or the “Company”) is pleased to announce that it has been awarded a new exploration & production contract in Colombia. The Jacaranda Contract, in which Emerald has a 100% working interest, covers an area of 235 sq. km and is located in foreland of the Llanos Basin, in Colombia, 130 km to the southwest of the Company’s Campo Rico operations.

The initial phase of the exploration period is 12 months and the minimum work programme comprises the acquisition of 40 km of new 2D seismic data, seismic attribute processing of 25 km, and the re-processing of 25 km of existing 2D seismic data. If Emerald elects to enter the second phase, the minimum work programme includes the drilling of 1 well to an estimated depth of 6,000 ft.

The Jacaranda Contract has been awarded by the ANH, the National Hydrocarbon Agency of Colombia, and a copy of the model contract terms can be found on the ANH website (www.anh.gov.co).

Emeralds’ Chief Executive Officer, Angus MacAskill, said:

“We are very pleased with the award of our fourth ANH E&P Contract in Colombia. Over the next year we will acquire and interpret data in these new areas to define a portfolio of drillable prospects for future growth.”

Enquiries: Helen Manning 020 7925 2440