21st Dec 2006 07:01
Emerald Energy PLC21 December 2006 Emerald Energy Plc 21 December 2006 Ombu 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 (the "Contract") inColombia. The Ombu Contract, in which Emerald has a 100% working interest,covers an area of 300 sq. km and is located in the Caguan Basin, to thesouth-west of the Llanos Basin, in Colombia. The initial phase of the exploration period is 11 months and the minimum workprogramme comprises the acquisition of 61 km of new 2D seismic data and there-processing of 60 km of existing 2D seismic data. If Emerald elects to enterthe second phase, the minimum work programme includes the drilling of 1 well toan estimated depth of 5,000 ft. The Ombu Contract has been awarded by the ANH, the National Hydrocarbon Agencyof Colombia, and a copy of the model contract terms can be found on the ANHwebsite (www.anh.gov.co). Emeralds' Chief Executive Officer, Angus MacAskill, said: "We are very pleased with the award of our second ANH E&P Contract in Colombia.The award of this prospective acreage with a petroleum system, proven byhistoric wells, contributes to the building of an exciting portfolio ofexploration opportunities 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