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  • EMERALD BAY ANNOUNCES PRIVATE PLACEMENT

    January 31, 2012

    Emerald Bay Energy Inc. today reported that the Corporation is proposing a Private Placement offering of up to maximum of 13,000,000 common shares ("Common Shares") of the Corporation » Read More

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  • EMERALD BAY ANNOUNCES DISPOSITION OF INTERESTS IN EDSON AREA PROPERTIES

    January 23, 2012

    Emerald Bay Energy Inc. is pleased to announce that it has accepted an offer on various interests in certain oil and gas properties situated in Edson, Alberta to an arm’s length party. » Read More

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  • Emerald Bay Cases Exploratory Oil Well in Texas

    January 10, 2012

    Emerald Bay has recently drilled and cased a prospective oil well in Guadalupe County, Texas. » Read More

News

March 04 2010

EMERALD BAY ANNOUNCES ACQUISTION OF 50% INTEREST IN TEXAS BASED OIL PRODUCER

For Immediate Release: March 4, 2010

EMERALD BAY ANNOUNCES ACQUISTION OF 50% INTEREST IN TEXAS BASED OIL PRODUCER

Calgary, Alberta, March 4, 2010 – Emerald Bay Energy Inc. (TSX Venture: EBY) (the "Corporation") is pleased to announce that it and a private partner have acquired 100% of the issued and outstanding securities of Production Resources Inc. ("PRI"), a private, Texas based oil company . The Corporation acquired its 50% interest in PRI for USD$425,000.

Information about the Acquisition

Under the terms of the purchase agreement, the Corporation will issue, subject to the final approval of the TSX Venture Exchange, 5.0 million common shares (at $0.08 per share for aggregate proceeds of CDN$400,000) of the Corporation, along with an 18 month consulting agreement totaling USD$36,800 to the seller, for a 50% interest in PRI. The seller will also retain a 1% gross overriding royalty on any formation below 1,200 feet.

PRI’s assets are made up of oil wells producing approximately 30 bbls of oil per day, 75 in-fill drilling locations with multiple oil targets, and service equipment to be a complete, self-sustaining field operation.

“The acquisition of PRI provides Emerald Bay with quality, low-risk oil assets for development. The upside of the un-drilled acreage is tremendous, and with the service equipment, it drastically reduces our operating costs. We look forward to providing a more in-depth overview of this property in the coming days after we have received the necessary regulatory approval,” stated Shelby Beattie, President and CEO.

Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with production properties in Western Canada and South Texas. The common shares of Emerald Bay trade on the TSX Venture Exchange under the symbol "EBY". Please visit our website at http://www.emeraldbayenergy.com. For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at (JavaScript must be enabled to view this email address),

or

CHF Investor Relations: Catarina Cerqueira, Associate Account Manager, (416) 868-1079 x251, (JavaScript must be enabled to view this email address) Robin Cook, Senior Account Manager, (416) 868-1079 x228, (JavaScript must be enabled to view this email address). If you would like to receive press releases via email please contact (JavaScript must be enabled to view this email address). Please specify “Emerald Bay press releases” in the subject line.

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.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES