Thu, 19 Sep 2019

Emerald Bay Energy Provides Update on Isabella #2 Well

ACCESSWIRE
09 Sep 2019, 21:31 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:

http://bit.ly/8020EBY

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

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.



View source version on accesswire.com:
https://www.accesswire.com/558774/Emerald-Bay-Energy-Provides-Update-on-Isabella-2-Well

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