CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / February 27, 2019 / Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the "Company" or "Emerald Bay") announced today that the Company has received Railroad Commission ("RRC") regulatory approval, and re-entry operations have commenced at the Isabella Unit, well #2, in Gonzales County, Texas. The RRC requested an H15 fluid test which was conducted yesterday. Logging operations confirming tubular depth were completed today.
Emerald Bay is approved to drill and deepen the well to 8400 feet. Multiple cement squeezes will be performed to isolate fluids coming into the wellbore from the previous operator's completions. The Company plans to test the Buda formation at approximately 8300 feet and the Eagle Ford formation at approximately 8200 feet deep. Pending those results, the Company will isolate and test the Navarro formation at approximately 6200 feet. It is anticipated that these operations will take several weeks to complete.
The Isabella prospect includes the Company's acquisition of several mineral leases, totaling approximately 86 acres, and the Isabella #2 wellbore. The Isabella 2 well produced from the Austin Chalk formation in the past, but the previous operator did not drill to the deeper Eagle Ford and Buda formations. The Company, and partner Cotulla Energy Resources Ltd. ("Cotulla"), have identified the Isabella 2 wellbore as a prime target to explore for a high impact well on trend with Eagle Ford and Buda production in Gonzales County, Texas. The Company and Cotulla have also identified a potentially prolific Navarro zone in the well.
Under terms of the partnership agreement, Cotulla will pay 100% of the Isabella prospect costs to earn a 75% interest. Emerald Bay retains a 25% interest in the well and acreage at no cost to the Company.
About Emerald Bay
Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: 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 now 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.
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SOURCE: Emerald Bay Energy Inc.
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