6th May 2009 07:00
Emerald Energy Plc
6 May 2009
Operations Update - Syria, Block 26
Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the following update on operations in Block 26, Syria.
Khurbet East No.9 Development Well
The Khurbet East No.9 well, located approximately one kilometre south of the Khurbet East No.1 well and planned as the first of three development wells to support the expansion of the Khurbet East early production facility, has been drilled vertically to a total depth of 1,986 metres. The well encountered the top of the Cretaceous Massive reservoir at 1,937 metres and preliminary analysis of the wire-line logs indicates a 26 metre gross (23 metre net) oil-bearing interval within this reservoir with an average porosity over the net oil-bearing section of approximately 22%. A definitive oil-water contact was not identified in the well as the primary reservoir section lies directly above a relatively impermeable and low porosity section.
During the final 12 hours of a 24 hour open-hole flow test of the gross reservoir interval, the well flowed, under natural flow, at an average stabilised oil rate of approximately 3,040 barrels per day through a 48/64 inch choke and with a water cut of between 3% and 4%. Preliminary analysis of the flow test indicates very good reservoir permeability, consistent with the production wells in the central portion of the Khurbet East Field.
The Khurbet East No.9 well will be completed as a production well and tied-in to the early production facility. After completion of operations on Khurbet East No.9, the rig will commence drilling of the Khurbet East No.10 well, the second of the three development wells planned to support the expansion of the early production facility.
Expansion of Khurbet East Early Production Facility
The expansion of the capacity of the early production facility to 18,000 barrels per day is proceeding on schedule with commissioning of the new equipment expected to commence in June and production start-up expected early in the third quarter of 2009.
Exploration 3D Seismic Survey
Acquisition of the 850 square kilometre 3D seismic survey in the area around the Khurbet East and Yousefieh fields continues on schedule, with approximately 90% of the area completed. The Company expects the programme will be completed this month, with delivery of final processed data expected late in the third quarter of 2009 and interpretation of these data commencing immediately thereafter.
Emerald's Chief Executive Officer, Angus MacAskill, said:
"We are very pleased with progress towards delivery of the early production facility expansion, with the results of Khurbet East No.9, the first of three development wells planned to fill the additional capacity, demonstrating the southern extension of the excellent reservoir quality seen in the central portion of the field. We are also pleased with the progress in acquiring this large exploration 3D seismic survey and look forward to the results of the interpretation of these data later in the year."
Enquiries: Lisa Hibberd 020 7925 2440
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