CALGARY, May 7 /CNW/ - Emerald Bay Energy Inc. (TSX Venture: EBY) (the
"Company") is pleased to report on recent drilling activities in South Texas.
Medina County, Texas
The Company has drilled, cased and cemented its previously announced
well, Oscar C 3EB. The Company is encouraged by the oil shows during drilling
operations, and the open-hole logs. Multiple prospective pay zones have been
identified, including the Escondido, Olmos, and Anacacho. Perforation,
stimulation, and testing operations are expected to begin within the next two
weeks. Emerald Bay is the operator and a 50% working interest participant.
"We have always been very confident that the Oscar C lease had good Olmos
oil production based on offset production. Now, based on the good oil shows
and logs, the Escondido and Anacacho zones have the potential to provide some
additional upside to this low-risk development in South Texas", stated Shelby
Beattie, President and CEO.
Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas
producer with production properties in Western Canada and South Texas. 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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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.
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 email@example.com; or CHF Investor
Relations: Catarina Cerqueira, Associate Account Manager, (416) 868-1079 x251,
firstname.lastname@example.org; Robin Cook, Senior Account Manager, (416) 868-1079 x228,