CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / February 5, 2020 / Emerald Bay Energy Inc. (TSX Venture:EBY)(OTC:EMBYF) (the "Company" or "Emerald Bay") reported today that the Company has spudded the fifth well, #4HC, on the Duval County Ranch Company ("DCRC") "E" lease.
The DCRC properties were acquired by the Company, with partners HugoCellR and CWS Energy Resources, in August, 2019. The properties consist of five leases totaling 896 acres, and pertain to the shallow depths from just below the Mirando Sand (approx. 2,600') to the surface.
The first phase of development at DCRC has been on the 320 acre "E" lease, and #4HC will be the fifth well drilled to date. The first four wells are currently producing 55 bbls/day of oil, and it is anticipated that the #4HC well will add approximately 15-20 barrels of oil per day. The partnership has plans to drill an additional 4-6 wells on the "E" lease this year.
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 Guadalupe, 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.
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SOURCE: Emerald Bay Energy Inc.