EMR 2.63% 3.9¢ emerald resources nl

new alice announcement out

  1. 475 Posts.
    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.
    Page 2
    For more information please contact:
    Emerald Oil & Gas NL Tel: +618 9482 0510
    JOHN HANNAFORD
    Executive Director – Finance
    [email protected]
 
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