Emerald Energy has provided the following update on operations in Colombia.
Drilling operations have commenced on the Jacinto No.1 exploration well in the Jacaranda block in the Llanos basin in Colombia. Emerald has a 100% working interest in the Jacaranda contract, awarded by the National Hydrocarbon Agency of Colombia ("ANH").
The Jacinto No.1 well is designed to evaluate the potential of a stratigraphic exploration target in the Tertiary aged Carbonera formation. The Company estimates that the Jacinto prospect, if successful, may contain unrisked prospective resources of approximately 10 million barrels.
The Jacinto No.1 well is expected to have a total drilling depth of approximately 6,400 feet and take approximately five weeks to drill and evaluate.
Emerald's Chief Executive Officer, Angus MacAskill, said, "We are very pleased to have started our first exploration well in 2009 and look forward to the results of drilling on this low cost and potentially high impact prospect."
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