Calgary, Alberta (FSCwire) – Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that drilling operations have commenced on the Floyd 1 well at the recently acquired F. Poenitz lease in Guadalupe County, Texas. The Floyd 1 and Floyd 2 wells are being drilled in partnership with HugoCellR Ltd. (“Hugo”), whereby Hugo will pay 100% of the costs to earn a 75% Working Interest in the wells. As the operating partner, Emerald Bay earns a 25% interest in the wells at no cost to the Company. Once the Floyd 1 well is drilled to the base of the Navarro formation, casing will be set in the well and the rig will immediately move to drill the Floyd 2 well. When drilling operations are completed the wells will be prepared to be fracture stimulated. It is anticipated that both wells will be on production in early October and the Company will provide additional information as it becomes available.
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 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.