EMERALD BAY ENERGY ACQUIRES INTEREST IN LEONA RIVER NATURAL GAS WELLS
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the “Company” or “Emerald Bay”) is pleased to announce that the Company, in partnership with Cotulla Energy Resources Ltd. (“Cotulla”), has acquired 5 natural gas wells, and the mineral rights to approximately 490 acres in Zavala County, Texas. The Leona River project currently has 3 wells which are intermittently producing approximately 105 mcf/day. The Company is now implementing optimization processes on the 3 producing wells, and is working with Cotulla on plans to bring the additional 2 wells back online. Under terms of the of partnership agreement, Cotulla owns 75% of the Leona River project, and Emerald Bay owns 25%.
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 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 and CEO, Shelby D. Beattie, or CFO, Mike Rice, (403) 262-6000, firstname.lastname@example.org, www.ebyinc.com
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