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Drilling Report

24th Mar 2009 07:00

RNS Number : 3495P
Emerald Energy PLC
24 March 2009
 

Emerald Energy Plc

24 March 2009

Result of Drilling Operations in the Jacaranda Block, Colombia

Emerald Energy Plc ("Emerald" or the "Company") provides the following update on operations in Colombia.

The Jacinto No.1 exploration well in the Jacaranda block, designed to evaluate the potential of a stratigraphic exploration target in the Tertiary aged Carbonera formation, has been drilled to a total depth of 6,460 feet. 

Hydrocarbon shows and a well developed sand channel were encountered while drilling through the Carbonera formation but wire-line log evaluation indicates the sand channel to be water bearing. Following this result, the well has been plugged and abandoned.

Emerald's Chief Executive Officer, Angus MacAskill, said:

“The Jacinto prospect was always recognised as being a higher risk stratigraphic exploration play but attractive to drill for its high potential reward and low drilling cost. While encouraged to encounter a thick sand channel necessary for the play, we are disappointed to find the channel water filled. We now look forward to the remaining exploration wells to be drilled in 2009.”

Enquiries: Lisa Hibberd 020 7925 2440

This information is provided by RNS
The company news service from the London Stock Exchange
 
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