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EMERALD RESOURCES NL Regulatory Filings 2007
64849_rns_2007-04-29_87a3aa9f-fbe8-4d1f-a79d-d70d36e08389.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
30 April 2007
Centralised Company Announcements Platform Australian Stock Exchange 10th floor, 20 Bond Street Sydney NSW 2000
NEW USA PROJECT - HOPE PROSPECT
Emerald Oil & Gas NL is pleased to announce the signing of a participation agreement on a new exploration prospect in South Texas, USA.
Emerald's USA subsidiary has entered into an agreement to participate in a 6.87% interest in the Hope Prospect, located in Lavaca County, Texas. The operator Main Energy is an experienced South Texas explorer and producer.
The Hope Prospect is located in the prolific Wilcox sand trend of South Texas. The prospect has been mapped from detailed 3-D seismic data and surrounding well control. Estimated resources from the two main target sands are 65 BCF gas and up to 1 million barrels of condensate. It is anticipated that first will on this new prospect will be drilled in June 2007.
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.