Emerald Energy plc is a United Kingdom-based company engaged in exploration and production of hydrocarbons in South America and the Middle East. In the Middle East, Emerald is participating in the contract to explore, develop and produce hydrocarbons in Block 26, Syria. In South America, Emerald is participating in three Association Contracts with Ecopetrol, the Colombian state oil company, and in several exploration and production contracts issued by the National Hydrocarbon Agency of Colombia (ANH). During the year ended December 31, 2007, the Company discovered Khurbet East field in Block 26, Syria, with gross life-of-field proved plus probable reserves of 65.6 million of barrels of oil (mmbbl) of oil (11.3 mmbbl Emerald net entitlement). The Company’s wholly owned subsidiaries include SNG Overseas Limited and Emerald Energy (Syria) Limited. During 2007, its average daily gross production was 3,456 barrels of oil per day (bopd).
