EMERALD BAY ENERGY PROVIDES UPDATE ON THE BAUER WILDCAT AND KUHN WELLS
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the “Company” or “Emerald Bay”) provided the following update on operations at the Bauer and Kuhn leases in South Texas.
• At the Bauer lease, the Company completed testing the Bauer wildcat well yesterday afternoon. The well was drilled to test the Edwards formation, and it has been determined that the Edwards is not commercially viable in this well. Additionally, the Company tested the Poth and Wilcox formations and determined that neither formation has commercial quantities of hydrocarbons.
The Bauer lease wildcat well was drilled in partnership with Cotulla Energy Resources Ltd. (“Cotulla”). Under terms of the agreement, 100% of the costs to drill and test the well were paid by Cotulla. Emerald Bay incurred no costs to drill and test the well.
• At the Kuhn lease, the Company is in the process of upgrading the electrical capabilities of the lease to power the new pumps capable of lifting the increased fluid volumes brought on by the stimulations to the wells.
The wells were originally equipped with pumpjacks that limited them to total fluid flow rates of approximately 110 bbls/day each. To enhance production and maximize flow rates the wells were acid stimulated. Current estimates for flow rates are in excess of 2,000 bbls/day of total fluid per well. New lifting equipment, capable of flow rates near 2,000 bbls/day has been installed on Kuhn 4.
The electrical company has completed the installation of the new transformer, and Kuhn 4 is back on line. The Company is now working to optimize flow rates on Kuhn 4. Additionally, the Company is working to complete the electrical upgrade to Kuhn A5 to get that well back online. Updates on the Kuhn wells will be forthcoming as they become available.
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 operator of the Wooden Horse and Nash Creek Projects in Guadalupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat 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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