Emerald Energy updates Colombiain operations

Emerald Energy Plc, a UK based company engaged in the exploration and production of hydrocarbons in Columbia, Argentina, Denmark and the Appalachian basin of the USA, provides update on development operations in Colombia.

The company has drilled to the target reservoirs the Vigia No.5 development well in the Vigia field. The well encountered the targeted Cretaceous Une and Gatcheta reservoirs higher than anticipated in the pre-drill estimates.

The company found both reservoirs oil-bearing with more net pay thicknesses in the Une and Gatcheta reservoirs than were seen in the Vigia No.1 well, the previously best performing well in the field.

Vigia No.5 was completed in the Une reservoir and initially tested, under natural flow, at a rate of over 1,000 barrels of oil per day with only a small amount of water.

Emerald’s Chief Executive Officer, Angus MacAskill, said we are delighted with the result of the Vigia No.5 well and the additional potential of the field identified by this well.

We look forward to increased production from both the Vigia and Campo Rico development wells, planned for later in the year, contributing to strong second-half production in Colombia, concluded Mr. MacAskill.