EMERALD BAY TO RE-ENTER KUHN 3 AND TEST PECAN GAP
Jan 16 2018
Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announced today that the Company plans to re-enter the Kuhn 3 well and complete the well in the Pecan Gap formation. The Company will use one of the two service rigs owned by its subsidiary, Production Resources Inc. (PRI), to carry out the operation. The operation will take place in the coming weeks with test results to follow shortly thereafter.
Shelby Beattie, President and CEO of the Company commented, “Current oil prices make this is an ideal time for the Company to re-enter Kuhn 3 and test the Pecan Gap as we had a good oil show from this formation when we originally drilled the well. The well is already tied in to our facilities and we will be able to begin production testing immediately upon completion of the operation. Having the ability to use PRIs service rig on this operation will be a substantial savings for the Company, and this was one of the main reasons we acquired an increased ownership in PRI last summer. We consider owning our own service rigs to be a strategic advantage that we will be able use to optimize production and maintain wells at our Wooden Horse, Nash Creek and Cottonwood Creek properties now, and in the future.”
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, natural gas, and electricity generation interests in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, 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.
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For further information, please contact: Emerald Bay President, Shelby D. Beattie, (403) 262-6000, email@example.com, www.ebyinc.com.
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