EMERALD BAY TO SELL THE FIRST 700 BARRELS OF OIL PRODUCTION FROM THE KUHN 3 AND KUHN 4 WELLS
Mar 21 2018
Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Company is selling the first loads of oil production from the Kuhn 3 and Kuhn 4 wells. Since pumping began at Kuhn 3 last week the well has produced over 500 barrels of oil and is averaging 62 bbls/day of oil production. At Kuhn 4, over 200 barrels of oil was produced during the intermittent testing of the 1 foot interval in the Buda formation. The additional 5 foot perforating operation was successfully completed last week and the Kuhn 4 well is now flowing back the water and acid from the operation at a rate
Shelby Beattie, President and CEO of the Company commented, “We acquired the Wooden Horse property as an Austin Chalk and Edwards play. During our exploration drilling to date we have also identified other possible hydrocarbon bearing zones in the Buda, Georgetown and Pecan Gap formations. We are very pleased with the production rates we are seeing from the Kuhn 3 well and we are moving forward with plans to drill our next two wells at Wooden Horse as Austin Chalk targets. Our geophysical team is in the final stage of positioning the Kuhn 5 and Kuhn 6 locations updip from the Kuhn 3 well and closer to the fault system. We drilled Kuhn 4 as an Austin Chalk target, but the well has been completed to this point in the Buda
formation. We have had some positive initial tests results from the Buda in Kuhn 4 and we perforated
an additional five feet of the zone last week. We are currently flowing the acid and water back from the
perforating operation at a rate of 40/bbls day. We are anxious to see what Kuhn 4 will produce in the coming
weeks. With the current oil price over $64.00 U.S. per barrel, and the low operating costs we have at Wooden
Horse, these wells will provide an excellent return on investment to the Company.”
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.
To stay informed on Emerald Bay Energy, please join our Investor Group at https://www.8020connect.com/groups/emerald-bay-ene...for all upcoming news releases, articles, comments and questions.
For further information, please contact: Emerald Bay President, Shelby D. Beattie, (403) 262-6000, firstname.lastname@example.org, 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.