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Emerald Bay Energy to Test Eagle Ford and Buda Formations at Over 8000’

ACCESSWIRE

By Emerald Bay Energy Inc.

CALGARY, AB AND SAN ANTONIO, TX / November 27, 2018 / Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the “Company” or “Emerald Bay”) is pleased to announce that the Company, in partnership with HugoCellR Ltd. (“Hugo”), has secured a rig to re-enter and deepen the Isabella 2 well to the previously untested Eagle Ford and Buda formations between 8000′ and 8200′ deep.

The Isabella prospect includes the Company’s acquisition of several mineral leases, totaling approximately 86 acres, and the Isabella 2 wellbore. The Isabella 2 well produced from the Austin Chalk formation in past, but the previous operator did not drill to, or complete, the deeper Eagle Ford and Buda formations. The Company’s technical team has identified the Isabella 2 wellbore as a prime target to explore for a high impact well on trend with Eagle Ford and Buda production in Gonzales County, Texas. With the rig secured, the wellbore will be deepened to the base of the Buda formation at 8200′, and both the Eagle Ford and Buda formations will be tested in December.

Commented Shelby D. Beattie, President and CEO, “The Eagle Ford and Buda formations at Isabella are more than a mile deeper than what we have explored for to date in the Kuhn wells at Wooden Horse. The production potential at these depths is very exciting for us. We are very fortunate to have secured a rig capable of servicing a well at this depth in such a short time frame and therefore we will move ahead immediately at Isabella, after which we will then drill the Wildcat well on the Bauer lease as previously announced. This is now the third project we have announced with Hugo in the past 90 days. Under the terms of the partnership, Hugo pays 100% of the costs of the Floyd, Bauer, and Isabella projects to earn a 75% interest. Emerald Bay earns a 25% interest in all three projects to at no cost to the Company as we 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 operating partner of the Wooden Horse, Nash Creek, and Cottonwood Creek Projects in Guadalupe 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.

To stay informed on Emerald Bay Energy, please join our Investor Group at https://www.8020connect.com/groups/emerald-bay-energy-inc for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release includes statements that may constitute “forward-looking” statements, usually containing the words “believe,” “estimate,” “project,” “expect”, “plan”, “intend”, “anticipates”, “projects”, “potential” or similar expressions.. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Forward-looking statements are statements that are not historical facts.

Information inferred from the interpretation of drilling results may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a well is actually developed. BOE’s may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 Bbl is based on energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Emerald Bay at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Emerald Bay that actual results achieved will be the same in whole or part as those indicated in the forward-looking statements. Forward-looking statements in this document include statements regarding the Company’s exploration, drilling and development plans, the Company’s expectations regarding the timing and success of such programs. In particular, forward-looking information in this news release includes, but is not limited to, statements with respect to: pipeline acquisitions and leasing; pipeline permits, pipeline construction, production estimates, drilling operations, completion operations, funding and development goals. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, level of activity, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Factors that could cause or contribute to such differences include, but are not limited to, fluctuations in the prices of oil and gas, uncertainties inherent in estimating quantities of oil and gas reserves and projecting future rates of production and timing of development activities, competition, operating risks, acquisition risks, liquidity and capital requirements, the effects of governmental regulation, adverse changes in the market for the Company’s oil and gas production, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the applicable securities regulators.

SOURCE: Emerald Bay Energy Inc.

ReleaseID: 529183