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EMERALD RESOURCES NL — Regulatory Filings 2007
Nov 18, 2007
64849_rns_2007-11-18_4910696e-18b1-47e5-8abf-0d15b9e9a277.pdf
Regulatory Filings
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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
19 November 2007
Centralised Company Announcements Platform Australian Stock Exchange 10[th] floor, 20 Bond Street Sydney NSW 2000
HOPE PROSPECT DRILLING UPDATE
Emerald Oil & Gas NL (“Emerald”) hereby advises on progress of the Marek #1 well at the Hope Project located in Lavaca County, Texas USA.
HOPE PROJECT LAVACA COUNTY, TEXAS
(Emerald earning 6.87% Working interest, Operator: Main Energy.)
Progress report at the Marek #1 well as at 6.00 am 18 November 2007 (Texas time).
Current Depth:
10,517 feet. Total depth.
Current Activity: Plugging & abandoning well after running wireline logs, formation interval tests & taking sidewall cores. Analysis of all data indicated only residual hydrocarbons were left in the target Wilcox sands sequence. The structure drilled did not have an effective seal and the hydrocarbons have leaked out through faults or associated fracture zones. A secondary target Yegua Sand from 4,749 to 4,751 feet contained gas but was too thin to be economically completed. The operator Main Energy recommended abandoning the well and plugging operations have commenced
Emerald Interest:
Emerald has a 6.87% working interest in this prospect.
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.
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