EEN - Undervalued & Oversold

With the current drilling in Syria and prospects, undervaluation, and producing assets Gulfsands and Emerald could be the subject of New Year tips in the coming few weeks.

Emerald has reached for the first time in its history a significant continuous drilling program in 2 countries simultaneously for a large part of next year. The Colombia drill program has started with Aureliano #1 well into an existing oil bearing structure in Fortuna block and will continue for the next 13 months with probably 6 or more wells being drilled both at Fortuna and Campo Rico blocks. The Syria drill program has been in progress since September and will last till at least next August when a total of 4 wells must be completed under the PSC with the Syrian Oil Ministry.

These 2 continuous drill programs have the prospect of transforming the reserves and near term production capability of the company by a factor of N times where N = 2 to many! It is the most exciting period of exploration ever for the company where success could come from multiple wells from multiple fields in quick succession across 2 countries!

Those who are out in the coming months who are former holders could soon be kicking themselves. First results of the current 2 drills in progress will be in January. And all this without even a mention of the sleeping Gigante whose potential glory days are getting ever closer (just a year away now on current planing!)

A welcome announcement today of the award of a new E&P contract in Colombia to keep the pipeline of new territory for exploration expanding.

Merry Xmas and a healthy and prosperous 07 to all contributors, readers, and staff.