General Search - Enter what you're looking for...
EMERALD OIL & GAS NL - ASX: EMR
The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.
Description
Emerald Oil & Gas NL is a petroleum exploration company with projects in USA and Western Australia. Formed from the merger of Matrix Oil NL and Emerald Gas Limited, Emerald Oil & Gas NL (“Emerald”) was reinstated to quotation on the ASX in June, 2006 following a capital raising of $4million. Emerald’s primary objective is to establish a substantial revenue stream with production from its current assets and to build on this base by selectively adding quality exploration and development assets in a closely managed growth portfolio.
USA Projects
Emerald's areas of interest in the Appalachian Basin are in Eastern Kentucky (Magoffin County) and Southwestern West Virginia (Wayne County). Wells in Emeralds Appalachian areas of interest in typically intersect combinations of several areally extensive gas bearing zones, including the Mississippian Berea Sandstone, the Devonian Shales including the “Marcellus” Shale, Devonian/Silurian Corniferous limestones, the Silurian Big 6 sandstone, and the Ordovician Trenton/Black River. This provides a very low geological risk environment for drilling and an opportunity for multiple zone completions in individual well bores. However, individual well production rates in Emerald's area of interest are characteristically low. Most of the productive gas formations (with the exception of the Devonian shales in some areas) are depleted to some extent and reservoirs generally exhibit moderate to low permeability, with a "good" producer typically being capable of several hundred Mcfd. Gas production is dry, with no liquid hydrocarbons or formation water produced. Well spacing typically varies between 20 acres and 40 acres, depending on reservoir characteristics.
Canning Basin, Western Australia (Emerald Interest 12.75% to 100%)
Emerald has secured a commanding contiguous exploration acreage position in excess of 14,000 square kilometres in the Canning Basin in Western Australia, covering the highly prospective Pinnacle Fault trend (approximately 225 km in length). Emerald's acreage now includes the entire western section of the fault onshore and its offshore extension. The Pinnacle Fault is a key structural element between the Fitzroy Sub-Basin and the Lennard Shelf. It is believed to be the conduit for oil and gas migration from the Fitzroy Sub-Basin into structural and stratigraphical traps on the adjacent Lennard Shelf to the north. In view of the successful discovery of porous Devonian “reefal” reservoir rocks in the Stokes Bay 1 well at EP104/R1, Emerald believes there is significant potential to discover several similar prospects along the western extension of the Pinnacle Fault.
Mine For
oil, gas
Location of operation(s)
USA, Western Australia
Australian Basins
Canning
Address
Suite 2, 12 Parliament Pl
WEST PERTH, WA, AUSTRALIA
Phone
(08) 9482 0510
Website
http://www.emeraldoilandgas.com
Last Updated
17/03/2010
The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.