EEN - Undervalued & Oversold

The Matambo contract covers the Gigante field and surrounding areas in the Upper Magdalena Valley. Emerald is operating the Gigante #1A well on a sole-risk basis; until Emerald has recovered 200% of the allowable exploitation costs attributable to the project, Ecopetrol will not take up its 50% participating interest. A reserved zone of up to 5 km around the sole risk area has been established; Emerald retains exclusive exploration rights within this zone but without any additional work obligation.