Operations update
2009年10月2日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
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RNS Number : 1080A
Emerald Energy PLC
02 October 2009
Emerald Energy Plc
2 October 2009
Operations Update - Syria, Block 26
Emerald Energy Plc ("Emerald" or the "Company") is pleased to provide the
following update on well operations in Colombia.
Colombia, Matambo Block - Gigante No.2 Caballos Fracturing
Hydraulic fracture stimulation operations on the Caballos formation in the
Gigante No.2 well have been conducted. The formation was treated with chemicals
and an acid soak, and subsequently the initial stages of the fracturing
operation were conducted. These initial stages provided information to be used
for the final design of the remaining fracturing operation.
Prior to commencing the remaining fracturing operation, the well was flow tested
over a 53 hour period, under natural flow and through a 32/64 inch choke, at an
average oil rate of approximately 538 barrels per day with a water cut of 3.5%.
This oil rate is approximately 2.9 times the oil rate of 185 barrels per day
recorded during the equivalent natural flow test conducted prior to recent
operations and reported on 27 July 2009.
Based on the results to date, the Company has decided not to conduct the
remaining fracturing operation at this time. The Company now plans to conduct an
extended flow and formation pressure build-up test of the Caballos formation
which is expected to take up to one month. If, following this planned testing,
the Company believes that further hydraulic fracture stimulation operations are
warranted, the design of such future operations will be optimised using the
information acquired during the current operations.
Following the completion of the planned operations in the Caballos formation,
the Company and its partner, Ecopetrol, plan to commence evaluation and flow
testing operations in the overlying Tetuan formation, which may include the
application of hydraulic fracturing, or may complete the well as a producer from
the Caballos formation.
Colombia, Ombu Block - Capella No.SH1X Slim-hole Well
The Capella No.SH1X slim-hole well has been drilled to a depth of 1,350 feet. At
this depth, the drilling assembly became stuck and operations to retrieve the
equipment continue. The Company is working with the drilling contractor to
resolve the current status and optimise the future drilling process to allow
successful slim-hole well drilling. The drilling contractor is working under a
turnkey contract with provisions for a fixed cost per well.
Emerald's Chief Executive Officer, Angus MacAskill, said:
"We are pleased with the progress in operations to enhance the Caballos
formation in the Gigante No.2 well in Colombia. Although the operational
difficulties encountered in Colombia to date with slim-hole drilling in the
Capella field are somewhat disappointing, we plan to continue efforts to apply
this technology with its potential for low cost appraisal in certain areas of
the Capella field."
Enquiries: Lisa Hibberd 020 7925 2440
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the City Code on Takeovers and Mergers (the
"Code"), if any person is, or becomes, 'interested' (directly or indirectly) in
1% or more of any class of 'relevant securities' of the Company, all 'dealings'
in any 'relevant securities' of the Company (including by means of an option in
respect of, or a derivative referenced to, any such 'relevant securities') must
be publicly disclosed by no later than 3.30pm (London time) on the London
business day following the date of the relevant transaction. This requirement
will continue until the date on which any offer becomes, or is declared,
unconditional as to acceptances, lapses or is otherwise withdrawn or on which
the 'offer period' otherwise ends. If two or more persons act together pursuant
to an agreement or understanding, whether formal or informal, to acquire an
'interest' in 'relevant securities' of the Company, they will be deemed to be a
single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant
securities' of the Company by any offeror or the offeree company, or by any of
their respective 'associates', must be disclosed by no later than 12.00 noon
(London time) on the London business day following the date of the relevant
transaction.
A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's (the "Panel") website at
www.thetakeoverpanel.org.uk.
'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a 'dealing' under Rule 8 you should consult the Panel.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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