Gulfsands Petroleum Spuds the Souedieh North Well in Syria

Souedieh Field
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Emerald Energy says drilling at the Souedieh North No.1 exploration well has commenced. This vertical well will be drilled to an approximate total depth of 2,260 meters with the primary objective being Cretaceous reservoirs similar to those producing in the adjacent Souedieh and Karachok oil fields. The drilling and logging of this well should be completed within the next 30 days.

Emerald holds a 50% working interest in the contract for exploration and production for Block 26, Syria, through SNG Overseas Ltd, a 100% owned subsidiary. The operator of Block 26 and holder of the remaining 50% is Gulfsands Petroleum Plc.

Alastair Beardsall, Emerald's Chairman, said:

'Souedieh North No.1 is the first of several exploration wells planned to be drilled before August 2007 and marks the start of an exciting Block 26 exploration drilling campaign.'


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