Emerald Energy Plc - 24 May 2006
Operations Update – Syria
Emerald Energy Plc (“Emerald” or the “Company”) would like to provide the following update:
The Souedieh North well in Block 26, Syria has been drilled to a depth of 7,298 feet. While drilling, the well encountered a series of live oil and gas shows. Wireline logs of the Tertiary reservoir section of the well indicate hydrocarbon bearing zones.
The operator is currently preparing to obtain wireline log data over the Cretaceous reservoir section in the well after setting an intermediate string of casing over the Tertiary section to maintain wellbore stability.
Further results from the well should be forthcoming within the next few weeks.
Alastair Beardsall, Emerald’s Chairman, said:
“Initial results of the Souedieh North No.1 well are very encouraging; further logging and testing of the well is required to fully evaluate it.”
Emerald holds a 50% interest in Block 26 in its 100% subsidiary SNG Overseas Ltd.
Enquiries: Helen Manning 020 7925 2440
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