EMERALD BAY UPDATES OPERATONS AT MARPAT LEASE AND KUHN 4 WELL
Mar 13 2018
Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announced today that the Company has begun operations to equip and tie in the final three wells of the MarPat partnerships. As noted in the press release of January 19, 2018, the wells were perforated and completed in the Anacocho, Olmos, or Escondido formations.It is anticipated that all three wells will be equipped and producing by the end of the week. With the completion of this operation, oil production from the sixteen MarPat wells will be approximately 40 bbls/day, approximately 10 bbls/day net to Emerald Bay at no cost to the Company.
The MarPat partnerships are farmouts whereby the farmees/partners pay 100% of the drilling and equipping costs for a 75% working interest in the wells. As the operator and farmor, Emerald Bay earns a 25% carried working interest in the wells.
At Kuhn 4, the Company has completed the operation whereby an additional 5 foot interval was perforated in the Buda formation. The formation was stimulated with acid yesterday and swabbing operations will begin tomorrow. Once swabbing operations are complete the well will be put on production. The company will provide updates as they become available.
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.
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.