EMERALD BAY ENERGY TO TEST EAGLE FORD AND BUDA FORMATIONS AT OVER 8000’
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the “Company” or “Emerald Bay”) is pleased to announce that the Company, in partnership with HugoCellR Ltd. (“Hugo”), has secured a rig to re-enter and deepen the Isabella 2 well to the previously untested Eagle Ford and Buda formations between 8000’ and 8200’ deep.
The Isabella prospect includes the Company’s acquisition of several mineral leases, totaling approximately 86 acres, and the Isabella 2 wellbore. The Isabella 2 well produced from the Austin Chalk formation in past, but the previous operator did not drill to, or complete, the deeper Eagle Ford and Buda formations. The Company’s technical team has identified the Isabella 2 wellbore as a prime target to explore for a high impact well on trend with Eagle Ford and Buda production in Gonzales County, Texas. With the rig secured, the wellbore will be deepened to the base of the Buda formation at 8200’, and both the Eagle Ford and Buda formations will be tested in December.
Commented Shelby D. Beattie, President and CEO, “The Eagle Ford and Buda formations at Isabella are more than a mile deeper than what we have explored for to date in the Kuhn wells at Wooden Horse. The production potential at these depths is very exciting for us. We are very fortunate to have secured a rig capable of servicing a well at this depth in such a short time frame and therefore we will move ahead immediately at Isabella, after which we will then drill the Wildcat well on the Bauer lease as previously announced. This is now the third project we have announced with Hugo in the past 90 days. Under the terms of the partnership, Hugo pays 100% of the costs of the Floyd, Bauer, and Isabella projects to earn a 75% interest. Emerald Bay earns a 25% interest in all three projects to at no cost to the Company as we continually look to expand our prospect base in Texas.”
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 operating partner of the Wooden Horse, Nash Creek, and Cottonwood Creek Projects in Guadelupe County, Texas, where the Company currently now owns a 50.00% working interest in those projects. Additionally, the Company owns various working interests in the MarPat and HugoCellR partnerships. 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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