Mr. Shelby Beattie reports
EMERALD BAY ENERGY ACQUIRES 300 ACRES TO DRILL WILDCAT WELL
Emerald Bay Energy Inc., in partnership with HugoCellR Ltd., has leased the mineral rights to approximately 300 acres in Guadalupe county, Texas. The Bauer prospect has been in development by the company for over nine months, with potential hydrocarbon-bearing zones from the Navarro formation at a depth of approximately 1,000 feet to the Sligo formation at over 4,000 feet deep. The company is now in the planning stages to drill a wildcat test well on the Bauer prospect to target all formations, including the Pecan Gap, Edwards, Eagle Ford and Austin chalk.
Shelby Beattie, president and chief executive officer of Emerald Bay Energy, commented: "We are very excited about the size and scope of the Bauer prospect. We have been developing the prospect for many months, and now that we have acquired the mineral lease, we can move ahead with planning the first wildcat test well, which will be the deepest well we have drilled to date in Texas. We are also very pleased with the ongoing partnership with HugoCellR Ltd. This is the second project we have begun with Hugo in the past 30 days, as we continually look to expand our prospect base in Texas."
About Emerald Bay Energy Inc.
Emerald Bay Energy is an energy company with oil-producing properties in southwest Texas as well as non-operated oil and natural gas interests in central Alberta, Canada. Emerald Bay Energy is the operator of the Wooden Horse, Nash Creek and Cottonwood Creek projects in Guadeloupe county, Texas, where the company currently now owns a 50-per-cent working interest in those projects. The company also owns 75 per cent of Production Resources Inc., a south Texas oil company.
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