CALGARY, Oct. 20 /CNW/ - Emerald Bay Energy Inc.(TSX Venture: EBY)
("Emerald Bay" or the "Company") today reported on recent drilling activities
in Central Alberta.
Drilling operations have commenced at Chigwell, Alberta (Township 42,
Range 25 W4), and will take about nine days to drill to an approximate depth
of 1600 metres. Zones of interest will be the Edmonton Sand, Horseshoe Canyon,
Belly River, Viking, Glauconitic, and Ellerslie. Emerald Bay is the Operator
as well as a 25% Working Interest participant.
Commenting on the program, Shelby Beattie, President of Emerald Bay,
said: "Chigwell is an exciting multi-zone prospect with great upside. Drilling
logistics and well licensing efforts have recently moved this prospect to the
front of our Q4 drilling program. After Chigwell the rig will be relocated to
either Dorenlee or Joffre to continue Q4 drilling operations."
ABOUT EMERALD BAY
Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas
producer with production properties in Western Canada. The common shares of
Emerald Bay trade on the TSX Venture Exchange under the symbol "EBY". Please
visit our website at www.emeraldbayenergy.com.
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The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
BOEs and BOEPD may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion
method primarily applicable at the burner tip and does not represent a value
equivalency at the wellhead.
This press release includes statements that may constitute
"forward-looking" statements, usually containing the words "believe,"
"estimate," "project," "expect" or similar expressions. These statements are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Forward looking statements are statements
that are not historical facts and are generally, but not always, identified by
the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," 'projects," "potential" and similar expressions, or that events
or conditions "will," "would," "may," "could" or "should" occur. Information
inferred from the interpretation of drilling results may also be deemed to be
forward looking statements, as it constitutes a prediction of what might be
found to be present when and if a well is actually developed. Forward-looking
statements in this document include statements regarding the Company's
exploration, drilling and development plans, the Company's expectations
regarding the timing and success of such programs. Factors that could cause or
contribute to such differences include, but are not limited to, fluctuations
in the prices of oil and gas, uncertainties inherent in estimating quantities
of oil and gas reserves and projecting future rates of production and timing
of development activities, competition, operating risks, acquisition risks,
liquidity and capital requirements, the effects of governmental regulation,
adverse changes in the market for the Company's oil and gas production,
dependence upon third-party vendors, and other risks detailed in the Company's
periodic report filings with the applicable securities regulators.
For further information:
For further information: Emerald Bay President, Shelby D. Beattie, by
telephone at (403) 262-6000 or by email at firstname.lastname@example.org; or CHF Investor
Relations: Catarina Cerqueira, Associate Account Manager, (416) 868-1079 x251,
email@example.com; Christopher Haldane, Account Manager, (416) 868-1079 x237,