new alice announcement out

NW ALICE PROSPECT UPDATE
Emerald Oil & Gas NL (“Emerald”) is pleased to provide an update on its North
West Alice Project in Texas, USA.
NW ALICE PROSPECT,
JIM WELLS COUNTY, TEXAS
(Emerald 10% Working interest, Operator: Noble Energy, Inc.)
Current Activity: The Operator has advised that the field acquisition of
the 3D seismic data has been completed. The
seismic data is now being processed in Houston,
Texas; and is expected to be available for
interpretation within the next 60 days.
Future Plans: The size of the structure as currently mapped from
2-D seismic and well control could host 50 to 100
BCF gas and 1.5 to 2.5 million barrels of condensate.
The 3D seismic data will further enhance and
delineate the structure to enable better
understanding of the fault trends to identify future
well locations. It is anticipated the Operator will
undertake an appraisal well in Q2 or Q3 of 2008.
This continues to be Emerald’s key project in the
USA with 3.5 to 7 BCF gas and 100,000 to 170,000
barrels condensate potential resources net to
Emerald following the gas discovery at the RJ Hunter
# 1 well in March 2007.
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For more information please contact:
Emerald Oil & Gas NL Tel: +618 9482 0510
JOHN HANNAFORD
Executive Director – Finance
[email protected]