Calgary, Alberta (FSCwire) – Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Company, in partnership with HugoCellR Ltd. (“Hugo”), has leased the mineral rights to approximately 300 acres in Guadalupe County, Texas. The Bauer prospect has been in development by the Company for over nine months with potential hydrocarbon bearing zones from the Navarro formation at approximately 1000 feet deep to the Sligo formation at over 4000 feet deep. The Company is now in the planning stages to drill a wildcat test well on the Bauer prospect to target all formations including the Pecan Gap, Edwards, Eagle Ford, and Austin Chalk.
Commented Shelby D. Beattie, President and CEO, “We are very excited about the size and scope of the Bauer prospect. We have been developing the prospect for many months and now that we have acquired the mineral lease we can move ahead with planning the first wildcat test well which will be the deepest well we have drilled to date in Texas. We are also very pleased with the ongoing partnership with HugoCellR Ltd. This is the second project we have begun with Hugo in the past 30 days as 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 operator of the Wooden Horse, Nash Creek, and Cottonwood Creek Projects in Guadeloupe County, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company.