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EMERALD RESOURCES NL — Capital/Financing Update 2008
Jan 10, 2008
64849_rns_2008-01-10_e6017c7d-3120-4bff-96e3-2af6b7a74dcc.pdf
Capital/Financing Update
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Level 2, 16 Altona Street West Perth WA 6005 Ph: +618 9482 0500 Fx: +618 9482 0505 Email: [email protected] www.emeraldoilandgas.com
11 January 2008
Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
NEW CANNING BASIN ACREAGE AWARDS
Emerald Oil & Gas NL (“Emerald”) is pleased to announce it has expanded its strategic tenement holdings in the Canning Basin, WA (onshore and offshore) with the successful applications for EPL 07-6 and T 07-1 (Lacapede Islands).
EP L07-6 & T07-1 (LACAPEDE ISLANDS) CANNING BASIN, WESTERN AUSTRALIA
(Emerald 100% Working interest, Operator)
Emerald is pleased to announce that it has been notified by the WA Department of Industry and Resources (DoIR) that it has been named preferred applicant for exploration permits L07-6 and T07-1 over the Lacapede Islands, offshore Canning Basin WA. Emerald has accepted the new permits and will now commence Native Title negotiations with the Claimants. The award of these tenements further consolidates Emeralds strategic holdings along the structurally significant Pinnacle Fault zone and its projection offshore. The Pinnacle Fault is a key structural element between the Fitzroy Sub-Basin and the Lennard Shelf. It is believed to be the conduit for oil and gas migration from the Fitzroy Sub-Basin into structural and stratigraphical traps on the adjacent Lennard Shelf to the north.
In view of the successful discovery of Devonian “reefal” reservoir rocks in the Stokes Bay 1 well at EP104/R1, which is to be further tested in April 2008, Emerald believes there is significant potential to discover several similar prospects along the western extension of the Pinnacle Fault (map attached).
Emeralds current tenement holdings in the Canning Basin are summarized below.
| Exploration Permit/Retention Licence/Applications Emerald Net Working Interest |
Permit Size (approx sq km) |
|---|---|
| EP 104 (R5) 12.75% Retention Lease R1 12.75% Application L98-1 (option) 12.75% Application EP 4/05-6 100% Application L07-6 100% Application T07-1 100% Total |
700 290 200 2,600 200 400 |
| 4,390 |
For more information please contact:
Emerald Oil & Gas NL Tel: +618 9482 0510
JOHN HANNAFORD Executive Director – Finance [email protected]
BOB BERVEN Executive Director – Technical [email protected]
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.
Page 2
EMERALD GRANTED " PREFERRED APPLICANT STATUS " FOR OFFSHORE BLOCKS 6/07-8 AND IT/07-8
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Location Map
KIMBERLEY Port Hedland
Map Area
BLOCK
King Canarvon
Pender-1
IT/07-8 Kambara-1 Geraldton
Sound
Minjin-1 PERTH
Perindi-1 Curringa-1
Tappers Inlet-1 Location
Moongana-1 EP 104 (R5) Stokes Bay-1
17° 00' S 6/07-8 Padilpa-1
T07-2 EP 4/05-6 Puratte-1
Jum Jum-1 RETENTION Point Torment-1
LEASE R1
West Kora-1
Kora-1
Derby
T07-3 Booran-1
L98-1
APPLICATION LLOYD
BOUNDARY
WEST TERRACE
L07-1 SUNDOWN
BLINA
Broome
18° 00' S WELL STATUS
Dry Well
Abandoned well with oil show
0 50km
Suspended gas well with oil show
KILOMETRES
Producing oil well
2007 APPLICATION AREAS
Abandoned well with oil and gas show
Oil field
122° 00' E 123° 00' E 124° 00' E
PINNACLE
W
INDIAN
OCEAN
INDIAN
OCEAN
AY
FITZROY
SUB-BASIN
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GR
IG
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EA
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FAULT
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H
HERN
ORT
T N
PENDER FAULT
LENNARD
SHELF
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Fri 11 Jan
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