CALGARY,
March 11, 2013 /CNW/ - Emerald Bay
Energy Inc. (TSX Venture: EBY) (the "Corporation" or "Emerald Bay") is
pleased to provide an update on recent events in Guadalupe County, Texas.
The Company recently received the drilling
permit to drill the first horizontal well at Wooden Horse. It is
anticipated that drilling operations will commence the first week
of April. The Horizontal well (Kuhn 1H) will be drilled utilizing
the data acquired through the vertical drilling program on the Kuhn
lease. The roads and drilling pad site have been constructed
to the drilling location. Electricity installations are
underway to accommodate the needs of both the electric submersible
and centrifugal pumping systems utilized during production
operations.
About Emerald
Bay
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
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.
Forward-Looking Statements
This press release includes statements that may
constitute "forward-looking" statements, usually containing the
words "believe," "estimate," "project," "expect", "plan", "intend",
"anticipates", "projects", "potential" or similar
expressions.. 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.
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. BOE's may
be misleading, particularly if used in isolation. A BOE conversion
ratio of 6 Mcf: 1 Bbl is based on energy equivalency conversion
method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead. The reader is
cautioned that assumptions used in the preparation of such
information, which are considered reasonable by Emerald Bay at the time of preparation, may
prove to be incorrect. Actual results achieved will vary from the
information provided and the variations may be material. There is
no representation by Emerald Bay
that actual results achieved will be the same in whole or part as
those indicated in the forward-looking statements.
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. In particular, forward-looking information in
this news 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 and development goals.
Although we believe that the expectations reflected in the
forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. We
cannot guarantee future results, level of activity, performance or
achievements. Consequently, there is no representation that the
actual results achieved will be the same, in whole or in part, as
those set out in the forward-looking information. 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.
SOURCE Emerald Bay Energy Inc.
