Block 26 Syrian Update

Both Emerald Energy and Gulfsands have given encouraging updates on progress in Syria.

In summary:

• Khurbet East now producing 14,700bopd gross, 4,000 bopd more than before.
• KHE-12 delineation well may result in a reserves increase.
• Workover rig to conduct further testing on KHE-7, Yousefieh-2 which may result in additional reserves being booked.

This looks like a low cost way to increase reserves at the time bid rumours are swirling round both companies. Hopefully, they will get enough time to re-enter KHE-1 and drill an appraisal well on the K-Dolomite before either company is taken out.

http://www.emeraldenergy.com/PR20090806.htm

http://www.gulfsands.com/s/NewsReleases.asp?ReportID=358783