Emerald Bay moves forward with operations at Wooden Horse in South Texas

11/6/2017

CALGARY -- Emerald Bay Energy Inc. has announced that the Company is moving forward with plans to complete and test the recently drilled Kuhn 4 well, and as noted in the October 11, 2017 press release, the Company is encouraged by multiple potential payzones.

The Kuhn 4 well was drilled as an Austin Chalk target offsetting the previously producing Kuhn 1C well, and the Company feels that Kuhn 4 has good Austin Chalk potential as Kuhn 4 is updip from 1C. Additionally, and somewhat unexpectedly, the Company was very encouraged by oil shows and logging results in the Buda limestone formation and therefore has spent several weeks now planning to initially complete Kuhn 4 in the Buda.

The Company has also spent the past several weeks evaluating offset lands for Buda potential. Buda production from the Darst Creek and Kingsbury fields in Caldwell and Guadalupe Counties total over 21 MMbbl to date. The Schmidt 2 well, drilled on the Company’s lands in the 1950s, was completed in the Buda formation and had an initial production rate of 193.08 bopd. It is anticipated that the Company will have services in place to begin completion operations on Kuhn 4 by the week of November 20th, and once the well is completed production testing will begin immediately as flowlines to the Company’s production facilities are already in place.

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