EMERALD BAY TO DRILL KUHN 4 WELL AT WOODEN HORSE
Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Corporation” or “Emerald Bay”) is pleased to provide an update on the Company’s Wooden Horse play in South Texas.
The Company has surveyed the location for the Kuhn 4 well to be drilled at the Company’s Wooden Horse play in South Texas. Kuhn 4 will be an offset well to the Company’s Kuhn 1C well. Kuhn 1C was a well that the Company re-entered upon acquiring the Wooden Horse play and produced until a casing collapse forced the plugging of the well in 2016. Kuhn 1C was originally drilled in 1982 and had initial production rates of 73.5 bbls/day of oil and 208 mcf/day of gas, and has produced approximately 74,000 bbls of oil to date. Using data from the Company’s recently completed seismic program, as well as information gathered drilling the Kuhn 3 well, the Company believes that the Kuhn 4 location, structurally higher to Kuhn 1C, could be optimal for the recovery of reserves in place. If successful, Kuhn 4 could see initial production rates similar to the Kuhn 1C well, and provide the basis for additional locations for future drilling. The Company anticipates that permits for drilling the well will be in place within the next week and anticipates spudding the well in mid to late September.
Emerald Bay and its partners are very pleased with the current economics of this type of drilling despite current low commodity prices. With over thirty years of experience in South Texas, management of Emerald Bay has established good relationships with service companies and has been able to put together a cost effective drilling and completion program.
ABOUT EMERALD BAY
Emerald Bay Energy Inc. (EBY) is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
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