CALGARY,ALBERTA AND SAN ANTONIO, TEXAS /ACCESSWIRE / October 25, 2018 / Emerald Bay EnergyInc.(TSX Venture: EBY, OTC: EMBYF)(the "Company" or "Emerald Bay") is pleased toannounce that the Company has purchased a cement pumping rig and a cement bulkrig on behalf of the Company's subsidiary Production Resources Inc.("PRI").The Rigs will be used to cement and plugshallow wells in South Texas.
Commented Shelby D.Beattie, President and CEO, "We are very excited to have acquired the cementingequipment at such an important time in the growth of the Company.Cementing and plugging wells has become veryexpensive in recent years.Having ourown cement rigs will give PRI the ability to cement our wells and gives theCompany a significant advantage over our competition."
About EmeraldBay
EmeraldBay Energy Inc. (EBY) is an energy company with oil producing properties insouthwest Texas as well as non-operated oil and natural gas interests inCentral Alberta, Canada.EBY is the operatingpartner of the Wooden Horse, Nash Creek, and Cottonwood Creek Projects inGuadalupe County, Texas, where the Company currently now owns a 50.00% workinginterest in thoseprojects. Additionally, the Company owns various working interests in theMarPat and HugoCellR partnerships.TheCompany also owns 75% of Production Resources Inc., a South Texas oilcompany.
To stay informed on Emerald Bay Energy, please join our InvestorGroup at https://www.8020connect.com/groups/emerald-bay-energy-inc for all upcoming news releases, articles, comments and questions.
Forfurther information, please contact:
Emerald BayPresident, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy ofthis release.
Forward-LookingStatements
This press release includes statements that mayconstitute "forward-looking" statements, usually containing the words"believe," "estimate," "project,""expect", "plan", "intend","anticipates", "projects", "potential" orsimilar expressions.. Forward-looking statements inherently involve risks anduncertainties that could cause actual results to differ materially from theforward-looking statements.Forward-looking statements are statements thatare not historical facts.
Informationinferred from the interpretation of drilling results may also be deemed to beforward looking statements, as it constitutes a prediction of what might befound to be present when and if a well is actually developed. BOE's may bemisleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf:1 Bbl is based on energy equivalency conversion method primarily applicable atthe burner tip and does not represent a value equivalency at the wellhead. Thereader is cautioned that assumptions used in the preparation of suchinformation, which are considered reasonable by Emerald Bay at the time ofpreparation, may prove to be incorrect. Actual results achieved will vary fromthe information provided and the variations may be material. There is norepresentation by Emerald Bay that actual results achieved will be the same inwhole or part as those indicated in the forward-looking statements.Forward-looking statements in this documentinclude statements regarding the Company's exploration, drilling anddevelopment plans, the Company's expectations regarding the timing and successof such programs. In particular, forward-looking information in thisnews release includes, but is not limited to, statements with respect to:pipeline acquisitions and leasing; pipeline permits, pipeline construction,production estimates, drilling operations, completion operations, funding anddevelopment goals.Although we believethat the expectations reflected in the forward-looking information are reasonable,there can be no assurance that such expectations will prove to be correct. Wecannot guarantee future results, level of activity, performance orachievements. Consequently, there is no representation that the actual resultsachieved will be the same, in whole or in part, as those set out in theforward-looking information.Factors that could cause or contribute to such differences include, butare not limited to, fluctuations in the prices of oil and gas, uncertaintiesinherent in estimating quantities of oil and gas reserves and projecting futurerates of production and timing of development activities, competition,operating risks, acquisition risks, liquidity and capital requirements, theeffects of governmental regulation, adverse changes in the market for theCompany's oil and gas production,dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the applicablesecurities regulators.
SOURCE: Emerald Bay EnergyInc.
