8th Nov 2005 07:00
Emerald Energy PLC08 November 2005 Emerald Energy Plc Operations Update Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide thefollowing update: Emeralds first exploration well on the Fortuna block, Silfide #1, has beendrilled to a total depth of 5,114ft and 12ft of net pay identified in the Umirformation using wireline logs. The well has been cased and a production test hasrecovered 38 barrels of 16.2 API gravity oil during swabbing operations, anartificial lifting technique. The test string has been replaced with acompletion string and the rig is being released. The Company is now evaluatingvarious artificial lift methods to determine the best one for the well. The planned expansion of production facilites at Vigia field is progressing andsufficient capacity is now available to produce both Vigia #1 and #3. Vigia #2will be tested and put on production when gathering and separation capacity isavailable. The Company is now producing oil from 6 wells at a combined rate of4,800 bopd. Alastair Beardsall, Emerald's Chairman, said: "The recovery of oil from Silfideis encouraging, we are now evaluating the use of artificial lift to develop theSilfide field." Enquiries: Helen Manning 020 7925 2440 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Emerald Energy