2nd Sep 2008 07:00
Emerald Energy Plc
2 September 2008
Colombia - Vigia No.6 Well Result
Emerald Energy Plc ("Emerald" or the "Company") would like to provide the following update on operations in Colombia.
The Vigia No.6 development well in the Vigia field has been drilled to the target reservoirs and completed as an oil producer. The well encountered the targeted Cretaceous age Une and Gacheta reservoirs. Both reservoirs were oil-bearing with very good development of clean sandstones in the Gacheta. Vigia No.6 was completed to produce from the Gacheta formation and has flow tested at an initial stable rate of over 850 barrels of oil per day with only a small amount of water.
Following the encouraging results in Vigia No.5 and No.6 wells, the two development wells drilled in the Vigia field during the current drilling campaign, the Company has decided to drill a further development well in the Vigia field. This well will utilise approximately 1,500 feet of the cased well bore of the unsuccessful Vigia No.4 well drilled in 2007. The Vigia No.4ST (Side Track) well will be directionally drilled to penetrate the Une and Gacheta reservoirs to the south of the Vigia No.5 well. The drilling of Vigia No.4ST well will commence as soon as the rig-move has been completed.
The Vigia field, including the Vigia No.5, No.6 and No.4ST development wells, has been developed under the sole risk terms of the Campo Rico Association contract.
Emeralds' Chief Executive Officer, Angus MacAskill, said:
"We are delighted that the Vigia No.6 well has continued to demonstrate the potential of the Vigia field, and look forward to the additional production from both this well and the further Vigia and Campo Rico development wells planned for drilling in 2008, contributing to strong second-half production in Colombia."
Enquiries: Lisa Hibberd 020 7925 2440
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