AI assistant
EMERALD RESOURCES NL — Capital/Financing Update 2007
Aug 15, 2007
64849_rns_2007-08-15_78e469d5-ea23-4924-853c-209395c29112.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [179 x 55] intentionally omitted <==
Level 2, 16 Altona Street West Perth WA 6005 Ph: 08 9482 0500 Fax: 08 9482 0505 Email: [email protected] www.emeraldoilandgas.com
16 August 2007
Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
VALENTINE 1 EXPLORATION WELL UPDATE
Please find attached a release on the progress of the Canning Basin exploration programme with the drilling of the Valentine-1 exploration well.
For more information please contact:
Emerald Oil & Gas NL Tel: +618 9482 0510 www.emeraldoilandgas.com [email protected]
JOHN HANNAFORD Executive Director – Finance [email protected]
BOB BERVEN Executive Director – Technical [email protected]
VALENTINE-1 DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA
| Date: | Date: | 16 August 2007 | 16 August 2007 | 16 August 2007 | |
|---|---|---|---|---|---|
| Permit: | R1 | ||||
| Well Location: | Lat : 17o08’ 23.46”SLong : 123o42’ 32.40”E | ||||
| Directional offset totarget: | 0 metres | ||||
| Elevation: | Ground Level is 12.1mAMSLRotary Table is 17.8mAMSL | ||||
| Prognosed Depths(measured KB): | Top primary objective | Total depth | |||
| 3,222 metres | 3,407 metres | ||||
| Prognosed drilling time: | 25 days | ||||
| Sud Date: | 1230 hrs WST 12 Auust 2007 | ||||
| p | , | g | |||
| Pres | ent Depth: | 644 m | MD | ||
| Tim | e of Reporting: | 0600 hrs, WST 16 | August 2007 | ||
| OpeRep | rations Since Lastort: | Set 13 3/8” cas | ing at 112m | ||
| Cr | ent Oerations | Drillin hd | 12 ¼” hl | ||
| u | p: | g aea | oe | ||
| Hyd | rocarbon indications: | Non | e | ||
| Part(pos | icipants in the wellt earning): | ARC Energy Limited - 38Empire Oil and Gas NL -Emerald Oil & Gas NL -Pancontinental Oil & GasPhoenix Resources PLC | .95% (Operator)14.8%12.75%NL - 10.0%- 10.0% | ||
| First Australian ResourceIndigo Oil PtyLtd - 5.5% | s Limited - 8.0% | ||||
| Com | ment: | N/A | |||
| AboEmermillio | ut Emerald Oil & Gas NLald Oil & Gas NL (ASX: EMR; EMRO) was listen Emerald is an oil and gas exploration and pr | d on the ASX in June 2006, raisioduction company with project int | |||
| in NEmer | .orth Dakota and Texas in the USA and in thald’s focus is on conventional reservoir targets | e Canning Basin of Western Ausfor oil and gas prospects and its pr |
About Emerald Oil & Gas NL
Emerald Oil & Gas NL (ASX: EMR; EMRO) was listed on the ASX in June 2006, raising $4 million. Emerald is an oil and gas exploration and production company with project interests in North Dakota and Texas in the USA and in the Canning Basin of Western Australia. Emerald’s focus is on conventional reservoir targets for oil and gas prospects and its primary
objective is to achieve near term production and cashflow to build shareholder value and provide funds to fuel further growth. Emerald’s strategy is to take modest but meaningful positions in low risk exploration projects that can be swiftly brought into production.
Information in this announcement pertaining to exploration potential was compiled by Robert Berven, Emerald Oil & Gas NL’s Technical Director who is a Member of the Australasian Institute of Mining and Metallurgy and the American Association of Petroleum Geologists CPG # 2498.
Statements regarding Emerald’s plans with respect to its petroleum properties are forwardlooking statements. There can be no assurance that Emerald’s plans for development of its petroleum properties will proceed as currently expected. There can be no assurance that Emerald will be able to confirm the presence of additional petroleum deposits, that any discovery will prove to be economic or that an oil or gas field will successfully be developed on any of Emerald’s petroleum properties.