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EMERALD RESOURCES NL — Capital/Financing Update 2007
Aug 15, 2007
64849_rns_2007-08-15_b964fc4e-3223-4f55-87de-34d6d56027fe.pdf
Capital/Financing Update
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Ground Floor 288 Stirling Street, Perth Western Australia 6000
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PANCONTINENTAL Oil & Gas NL ABN 95 003 029 543
P O Box 8260 Perth Business Centre Western Australia 6849
Tel: (61 8) 9227 3220 Fax: (61 8) 9227 3211 Email: [email protected] Web: www.pancon.com.au
ASX Release
16 August 2007
VALENTINE DRILLING REPORT CANNING BASIN, WESTERN AUSTRALIA
| Date: | 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 12.1mAMSLRotaryTable is 17.8mAMSL | |
| Prognosed Depths(measured KB): | Top primary objective | Total depth |
| 3,222 metres | 3,407 metres | |
| Prognosed drilling time: | 25 days | |
| Spud Date: | 1230 hrs,WST 12 August 2007 | |
| Present Depth: | 644 mMD | |
| Time of Reporting: | 0600 hrs,WST 16 August 2007 | |
| Operations Since LastReport: | Set 13 3/8’ casing at 112m | |
| Current Operations: | Drillingahead 12 ¼” hole | |
| Hydrocarbon indications: | None | |
| Participants in the well(post earning): | ARC Energy Limited - 38.95% (Operator)Empire Oil and Gas NL - 14.8%Emerald Oil & Gas NL - 12.75%Pancontinental Oil & Gas NL - 10.0%Phoenix Resources PLC - 10.0%First Australian Resources Limited - 8.0%Indigo Oil PtyLtd - 5.5% | |
| Comment: | N/A |
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PANCONTINENTAL Oil & Gas NL ABN 95 003 029 543
Ground Floor 288 Stirling Street, Perth Western Australia 6000
P O Box 8260 Perth Business Centre Western Australia 6849
Tel: (61 8) 9227 3220 Fax: (61 8) 9227 3211 Email: [email protected] Web: www.pancon.com.au
Enquiries:
Matthew Battrick General Manager Tel: 08 9227 3220 Fax: 08 9227 3211 Email: [email protected]
The summary report on the oil and gas projects is based on information compiled by Mr M A Battrick, BSc, MAAPG, MPESA, MAICD, MPESGB, General Manager of Pancontinental Oil & Gas NL. Mr Battrick has the relevant degree in geology and has been practising petroleum geology for 26 years.
Mr Battrick is a full-time employee of Pancontinental Oil & Gas NL and has consented in writing to the inclusion of the information stated in the form and context in which it appears.