Syria explorer Emerald Energy has posted a 16-percent gain in profit after tax for the first half of 2007, the $4.1-million result coming as expenses eased their grip and Khurbet No. 2 confirmed Syrian oil and gas.

The company said it aims for “early development and production” at Khurbet, for which it will use its cash reserves of $42 million derived from a July bond sale.

Pending the sale of Syrian hydrocarbons, company first-half revenues notched slightly downward over the year-ago period to $20.7 million.