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EMERALD RESOURCES NL Regulatory Filings 2007
64849_rns_2007-05-21_8efa3760-77f5-456f-aacf-30e496c0de35.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
22 May, 2007
Centralised Company Announcements Platform Australian Stock Exchange 10th floor, 20 Bond Street Sydney NSW 2000
DRILLING UPDATE - GREENBUSH PROJECT
Emerald Oil & Gas NL hereby provides an update on drilling operations at the Greenbush Project.
GREENBUSH PROJECT, EGEBERG #1 WELL WARD COUNTY, NORTH DAKOTA, USA
(Emerald 15% Working interest, Operator: Golden Eye Resources LLC)
Progress report on the Egeberg #1 well as at 8.00am 21 May 2007 (Central USA time.)
- Current Depth: 2,903 feet.
- Spudded well midday 18 May. Set 9 5/8 inch Current Activity: surface casing to 1,255 feet. Drilling ahead in 8 3/4 inch hole to secondary objective at 5,955 feet.
- Emerald Interest: Emerald has a 15% WI (after casing point) in this prospect.
- About the Egeberg#1 well: The Egeberg $#1$ well is a vertical exploration well to a proposed total depth of 6,215 feet. The primary target is the Kisbey sandstone (oil) at approximately 6,025 feet. The secondary target Sherwood formation (oil) is anticipated at approximately 5,955 feet. It is anticipated that the targets will be reached in 7-8 days. The potential resources are estimated to be up to 250,000 to 500,000 barrels of oil if hydrocarbons are present.
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.
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]
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.