19th Mar 2007 07:01
Emerald Energy PLC19 March 2007 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 ithas been awarded a new exploration & production contract in Colombia. TheJacaranda Contract, in which Emerald has a 100% working interest, covers an areaof 235 sq. km and is located in foreland of the Llanos Basin, in Colombia, 130km to the southwest of the Company's Campo Rico operations. The initial phase of the exploration period is 12 months and the minimum workprogramme comprises the acquisition of 40 km of new 2D seismic data, seismicattribute processing of 25 km, and the re-processing of 25 km of existing 2Dseismic data. If Emerald elects to enter the second phase, the minimum workprogramme 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 HydrocarbonAgency of Colombia, and a copy of the model contract terms can be found on theANH 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 todefine a portfolio of drillable prospects for future growth." Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Emerald Energy