Natural Gas

  • 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.  
  • Current state of Alberta gas wells drilled prior to 2009 
    • 13 producing wells
    •              
    • 10 shut-in wells
    •              
    • 15-20 drilling location for future development

chigwell

chigwell

twining

twining

dorenlee

gilby

Electrical Power Generation – Nevis

  • Pilot project
  • Construction of a natural gas-fired electrical power generation plant near Nevis, Alberta was completed Fall 2014
  • The plant consists of four generators rated at a combined 980 kW.
  • EBY’s four coal bed methane wells will be used as the fuel for the power plant.
  • EBY will be able to create revenue streams from natural gas wells that are currently uneconomical to produce.
  • Great opportunity to purchase adjacent facility for future growth.