Emerald Bay cases Chigwell, mobilizes rig to Joffre, Alberta



    CALGARY, Oct. 28 /CNW/ - Emerald Bay Energy Inc. (TSX Venture: EBY)
("Emerald Bay" or the "Company") today reported on recent drilling activities
in Central Alberta.

    Chigwell, Alberta

    At Chigwell the Company has drilled, cased and cemented its previously
announced well at Township 42, Range 25 W4. The Company is encouraged by the
logs and multiple prospective pay zones have been identified. Perforation,
stimulation, and testing operations are expected to begin within the next two
weeks.

    Joffre, Alberta

    Rig mobilization operations have initiated Joffre at Township 39,
Range 25 W4. Drilling operations will commence on or about October 29th. This
Horseshoe Canyon target will be drilled to a depth of approximately
650 metres. Emerald Bay is the operator at Joffre with a 25% working interest.
    Commenting on recent activities, Shelby Beattie, President of Emerald
Bay, said: "We are obviously excited about the potential at Chigwell. It's a
great way to start the Q4 drilling program as we move forward to our Joffre
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.

    
     If you would like to receive press releases via email please contact
       catarina@chfir.com. Please specify "Emerald Bay press releases"
                             in the subject line.

      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.
    -------------------------------------------------------------------------

    Forward-Looking Statements
    --------------------------
    

    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.

    %SEDAR: 00008937E




For further information:

For further information: Emerald Bay President, Shelby D. Beattie, by
telephone at (403) 262-6000 or by email at info@ebyinc.com; or CHF Investor
Relations: Catarina Cerqueira, Associate Account Manager, (416) 868-1079 x251,
catarina@chfir.com; Christopher Haldane, Account Manager, (416) 868-1079 x237,
chris@chfir.com

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