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EMERALD RESOURCES NL Regulatory Filings 2007
64849_rns_2007-03-19_a8c3e6eb-46de-4c64-a163-8d030be1f1a8.pdf
Regulatory Filings
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OIL & GAS NL
Level 2, 16 Altona Street West Perth WA 6005 Ph: 08 9482 0500 Fx: 08 9482 0505 Email: [email protected]
20 March 2007
Centralised Company Announcements Platform Australian Stock Exchange 10th floor, 20 Bond Street Sydney NSW 2000.
DRILLING UPDATE - NW ALICE PROSPECT (JIM WELLS COUNTY, TEXAS) Emerald earning 10% Working interest
Emerald Oil & Gas NL ("Emerald") is pleased to report on progress at the RJ Hunter #1 well being operated by Noble Energy, Inc.
- Current Depth: 6.152 feet.
- Current Activity: Pulling out of the hole laying down drill pipe prior to rigging up and running 7 inch intermediate casing at 6152 feet RKB.
- Target Depth: 8,350 - 8,500 feet approx to test Yegua sand targets.
- Emerald's Interest: Emerald is earning a 10% Working Interest in the NW Alice Prospect.
- the NW Alice structure as currently mapped from 2-D About NW Alice Prospect: seismic and nearby well control and, based upon Emerald's estimation, could host up to 100 BCF gas and 2.5 million barrels of condensate based on nearby well and field production histories.
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 forward-looking 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.