EMERALD BAY ENERGY MOVES PRI RIG TO KUHN A5 WELL
Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) reported today that the Company has moved it’s Production Resources Inc. (PRI) service rig from the Kuhn 3 well to Kuhn A5. The Company had arranged for a third party rig to be available this week to put Kuhn A5 on production. Late last week the Company was informed that rig mobilization to the Kuhn A5 well could take up to 4 weeks and no other rigs in the area were available. The Company has made the decision to pause the operation currently taking place at Kuhn 3 and move the PRI rig to Kuhn A5 to put the well on production this week. Once Kuhn A5 is pumping the rig will move back to Kuhn 3 to complete the acid stimulation operation next week. Further information will be provided as it becomes available.
Commented Shelby D. Beattie, President and CEO, “With the service rig we had arranged for Kuhn A5 not being available for up to 4 weeks, we feel very fortunate to have access to our PRI rig. As Kuhn A5 is the Company’s most successful well tested to date, our top priority over the past several weeks has been to get the well ready to begin pumping. We have installed the pumpjack and flowlines, and we equipped the well with a propane engine to begin production as quickly as possible while we evaluate electricity options for the future. We will have the rig in place tomorrow and we anticipate that Kuhn A5 will be pumping by Thursday. Once Kuhn A5 is on line we will move the rig back to Kuhn 3 to complete that operation. In the coming weeks we have several other operations that we will complete at Wooden Horse and then we will move the PRI rig to our Cottonwood Creek property to service the Poenitz 1 and Poenitz 2 wells. It has never been more apparent to us how important it is that we have the PRI service rigs. It has become increasingly difficult to procure service rigs in South Texas over the past year and the advantage we have of owning our own rigs cannot be overstated.”
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 and natural gas 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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For further information, please contact: Emerald Bay President, Shelby D. Beattie, (403) 262-6000, firstname.lastname@example.org, www.ebyinc.com
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