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EMERALD RESOURCES NL — Regulatory Filings 2007
Nov 22, 2007
64849_rns_2007-11-22_96d9c55c-55a7-48ad-a817-acc500ddcb9b.pdf
Regulatory Filings
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Level 2, 16 Altona Street West Perth WA 6005 Ph: 08 9482 0500 Fax: 08 9482 0505 Email: [email protected] www.emeraldoilandgas.com
23 November 2007
Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
EP 104/R1 CANNING BASIN– UPDATE ON THE STOKES BAY-1 WELL TESTING OPERATION BY SWABBING
Since the last report on November 15th announcing that testing had recommenced, swabbing operations have continued through the week, and as of 6:00am, 22nd November 2007, the swabbing operations had recovered 624 bbls of drilling fluid lost to the formation during drilling, This brings the total fluids recovered to 3,644 bbls, and represents some 29% of the estimated 12,400 bbls of drilling fluid lost.
Operations at the Stokes Bay-1 well have currently been suspended due to heavy rain and will be resumed when the weather allows.
At this point, the nature of the reservoir fluid and the source of the pressure within the reservoir are still undetermined.
| Participants in the Permit (post earning): |
ARC Energy Limited 38.95% (Operator) Empire Oil and Gas NL 14.80% Emerald Oil & Gas NL 12.75% Pancontinental Oil & Gas NL 10.00% Phoenix Resources PLC 10.00% First Australian Resources Limited 8.00% Indigo Oil PtyLtd 5.50% |
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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]
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.