CALGARY, ALBERTA and SAN ANTONIO, TEXAS / ACCESSWIRE / June 26, 2019 / Emerald Bay Energy Inc. (TSX Venture: EBY, OTC: EMBYF) (the "Company" or "Emerald Bay") is pleased to report on the initial oil production from the Kuhn 3 well. During the first 24 hours, Kuhn 3 produced approximately 120 barrels of oil. Over this period, the Kuhn 3, 4 and A5 wells collectively produced 145 barrels of oil into the sales tanks. In the first 24 hours, production from the Kuhn 3 well was 100% oil with no associated water. We are currently starting to observe a small percentage of water in the samples which are being taken every 6 hours.
As previously reported, the Company anticipated seeing a high fluid volume with an oil cut between 2 and 4% from Kuhn 3, and this may ultimately still be the case. However, due to the unexpected nature of the results to this point, and the impact these production rates potentially mean for the Company, we felt it prudent to provide the initial 24 hour production. The Company will provide further information about the Kuhn 3 production rates as necessary.
The Kuhn 3 well is on the Company's Wooden Horse project in South Texas where Emerald Bay owns a 50% working interest in the wells and receives the WTI price for the oil produced.
For further information, please contact:
Emerald Bay President, Shelby D. Beattie, or CFO, Mike Rice, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com.
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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