Operations

South Texas Projects

Since 2010 Emerald Bay has focused on the exploration, development and optimization of oil opportunities in South Texas. The Company’s production comes from four key counties within South Texas: Medina, Bexar, Atascosa and Guadalupe. Within these counties Emerald Bay and its partners have established cost-effective drilling and completion programs despite low commodity prices. Management’s thirty years of experience in South Texas has enabled them to establish strong relationships with regional service companies, creating an edge over its peers.

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Operation Highlights

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Over the Last Year...

  • The Company increased its working interest ownership in the Wooden Horse, Nash Creek, and Cottonwood Creek projects from 27.78% to 50%.
  • The Company drilled two new wells (Kuhn 4 and Kuhn A5) at Wooden Horse.
  • The Company re-completed Kuhn 3 at Wooden Horse.
  • The Company acquired additional offset acreage at Wooden Horse.
  • The Company added a new technical team to evaluate and execute development plans at Wooden Horse and Nash Creek.
  • The Company increased its ownership in Production Resources Inc. (PRI) from 10% to 75%.
  • PRI re-worked 40+ wells in Somerset and Taylor-Ina to increase daily production by 28%.
  • The Company completed 8 additional MarPat wells, for a total of 16 wells, to earn a 25% carried working interest in the wells.

Why Texas

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Management has drilled over 200 wells within the focus area since 1981

Access to quality services at competitive costs

Finding, development and operating costs competitive or better than Canada

Large percentage of land/minerals held privately

Small companies with regional expertise and knowledge base can assemble a significant land position quickly

It has been a very busy time for Emerald Bay in South Texas. Over the past two years, Emerald Bay took advantage of the improved visibility in the industry and became part of the M&A landscape, aggressively pursuing acquisitions of existing production and new premium drilling locations. And while Emerald Bay’s technical team continues to assess additional targets, the Company is now validating its acquisitions with excellent “shows” of oil and starting the next phase of development in its Wooden Horse and Nash Creek projects.

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