EMERALD BAY ENERGY BEGINS PUMPING FLOYD 1 AND FLOYD 2 WELLS
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the “Company” or “Emerald Bay”) is pleased to report that pumping operations commenced today on the Floyd 1 and Floyd 2 wells at the Company’s F. Poentiz lease near LaVernia, Texas. The wells were fracture stimulated on December 28th and 29th, and the pump jacks were installed earlier this week. The Floyd wells are completed in the Navarro formation at approximately 1000’ deep, and the lease has an additional 14-18 drilling locations for future development.
Floyd 1 and Floyd 2 are the first two wells drilled in partnership with HugoCellR Ltd., whereby HugoCellR pays 100% of the costs to drill the wells to earn a 75% interest. As the operating partner, Emerald Bay earns a 25% interest in the wells at no cost to the Company. Partnerships like the HugoCellR Ltd. partnership represent a unique opportunity to grow at no risk or cost to the Company.
ABOUT EMERALD BAY
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) 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, info@ebyinc.com, www.ebyinc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
