ACCESS Newswire
09 Sep 2019, 17:01 GMT+10
CALGARY, AB / ACCESSWIRE / September 9, 2019 / Emerald Bay Energy Inc. (TSX Venture:EBY) (OTC Pink:EMBYF) (the 'Company' or 'Emerald Bay') reported today that HugoCellr Ltd. ("Hugo") has assumed the full interest of Cotulla Energy Resources Ltd. ("Cotulla") in the Isabella #2 well. Cotulla's focus to date was the Navarro formation at approximately 6,100 feet, and extensive testing did not yield commercial viability in that formation. Prior to testing the Navarro formation for Cotulla, Emerald Bay had found commercially viable results in the Buda formation at 8,300 feet. The Company and Hugo are now planning the next steps of going back downhole to resume testing the Buda and Basal Austin Chalk formations, as well as the Company's primary target Eagle Ford formation which has yet to be tested. Under terms of the partnership agreement, HugoCellr will pay 100 percent of the Isabella costs to earn a 75 percent interest with Emerald Bay retaining a 25 percent interest.
About Emerald Bay
Emerald Bay Energy Inc. (TSX Venture:EBY) (OTC Pink:EMBYF) is an energy company with oil producing properties in Southwest Texas as well as non-operated oil and natural gas interests in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently owns a 50.00% working interest those projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
For all upcoming news releases, articles, comments and questions, to stay updated and speak with management about Emerald Bay Energy. Please JOIN our Investor Information Group at:
For further information, please contact:
Emerald Bay President, Shelby D. Beattie, or CFO, Mike Rice, by telephone at (403) 262-6000
Email: [email protected]
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.
SOURCE: Emerald Bay Energy Inc.
Get a daily dose of Pittsburgh Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pittsburgh Star.
More InformationWASHINGTON, D.C.: Travelers at U.S. airports will no longer need to remove their shoes during security screenings, Department of Homeland...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
(Photo credit: David Frerker-Imagn Images) Manny Machado's sacrifice fly snapped a tie in the bottom of the seventh inning on Saturday...
(Photo credit: Kyle Ross-Imagn Images) Indiana Vassilev and Bruno Damiani each scored first-half goals for the Philadelphia Union,...
(Photo credit: Brad Rempel-Imagn Images) Byron Buxton hit for the cycle for the first time in his career, and the Minnesota Twins...
(Photo credit: David Frerker-Imagn Images) The San Diego Padres optioned effective right-handed starter Ryan Bergert to Triple-A...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...
LONDON, U.K.: At least 13 people are believed to have taken their own lives as a result of the U.K.'s Post Office scandal, in which...