Central Alberta

Emerald Bay’s energy portfolio in Central Alberta includes natural gas, oil and electrical power generation. This diversification has proved essential with the collapse of natural gas prices. When natural gas prices collapsed in 2009 the Company had established a significant land position in Alberta with over 50 drilling locations and had grown production to over 200 boe/day. To preserve existing reserves while natural gas prices remain low, most Canadian assets have been shut‐in. Additional natural gas drilling programs within Canada also remain on hold until prices rebound. To create revenue streams from natural gas wells that are currently uneconomical to produce, EBY has constructed a natural gas-fired electrical power generation plant near Nevis, Alberta. EBY’s four coal bed methane wells will be used as the fuel for the power plant. The plant is fully operational and has begun selling electricity into the Alberta power pool.

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South Texas

Due to instability in natural gas prices, Emerald Bay began to divest its Canadian gas assets and pursue South Texas oil opportunities in 2010. EBY has put in place strategic partnerships with key investors and industry partners for acquisitions and development in South Texas counties Medina, Bexar, Atascosa and Guadalupe. EBY’s projects in Medina, Bexar and Atascosa counties include: Somerset, Taylor-Ina and Chicon Lake. In Guadalupe County, the Company has acquired approximately 3000+ acres of land for exploration and development activities. The lands are divided into four core projects: Wooden Horse, Nash Creek, Cottonwood Creek and Holmes Lake.

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