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Emerald win defies Colombia trend


Published Apr 7, 2008
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U.K. independent Emerald Energy has won a 107-square-kilometre exploration and production contract in southwest Colombia, one of few license awards announced in the wake of recent tensions with Equador and Venezuela.

The Agerato Contract in the Putumayo Basin allows one-year to explore, during a which a 35km survey must be conducted. Emerald owns acreage some 75 km away.

An Emerald statement said prospecting depths in the area are relatively shallow.

The second phase of exploration, if entered, would include the drilling of a well.

The round was affected by a military build-up and political posturing after Colombia violated Equadorian sovereignty in pursuit of anti-government guerillas. Three government “road shows” in Houston, London and Bogota helped revive interest in Colombia Round 2008.

Tags: Emerald Energy Plc




   

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