Emerald Bay Cases Kuhn 4 Well

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Kuhn 4 well has been cased at the Company’s Wooden Horse play in South Texas.   The Company is encouraged by multiple potential payzones and the oil shows encountered during drilling.  The Company is now in the process of scheduling services for completion and testing operations to begin later this month.

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About Emerald Bay

Emerald Bay Energy Inc. (EBY) is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at https://www.8020connect.com/groups/emerald-bay-energy-inc  for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com.

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. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

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Emerald Bay Begins Drilling Operations at Kuhn 4 

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that drilling operations have commenced on the Kuhn 4 well at the Company’s Wooden Horse play in South Texas.   Using the Company’s seismic data as well as well control from recent drilling activity in the area, including the recently drilled Kuhn 3 well, the Company will offset the previously producing Kuhn 1C well.  The Company will drill the well to the upper Edwards formation and it is anticipated that the possible productive zones include the Austin Chalk, Buda, Georgetown and Edwards formations.  Drilling to total depth will take approximately 5 days at which point the Company will assess the commercial viability of the well.

 

“We are very pleased with recent developments at Wooden Horse.  Using the 3D seismic program that we have continued to refine over the past year, along with additional well control that we now have from recent drilling activity in the area, we have never been more confident about the potential at Wooden Horse.   A lot of work and a lot of expertise has gone into selecting the location for this well and we feel that Kuhn 4 may be the start of exciting things to come at Wooden Horse”, stated Shelby Beattie, CEO of Emerald Bay.

 

As per our new release dated June 28th, 2017, this will be our first well being drilled under the new working interest of 50% to Emerald Bay Energy.

 

About Emerald Bay

 

Emerald Bay Energy Inc. (EBY) is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

 

For further information, please contact:

 

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000

Email: info@ebyinc.com

www.ebyinc.com.

 

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.

 



Emerald Bay Receives Drilling Permit for The Kuhn 4 Well at Wooden Horse

CALGARY, AB / ACCESSWIRE / September 25, 2017 / Emerald Bay Energy Inc. (TSX-V: EBY) (the "Company" or "Emerald Bay") is pleased to announce that the Company has received the drilling permit for the Kuhn 4 well to be drilled at the Company's Wooden Horse play in South Texas. The surface location is being prepared this week and the drilling rig has been scheduled to spud the well once the location is ready. It is anticipated that drilling operations will commence on October 4th.

About Emerald Bay

Emerald Bay Energy Inc. (EBY) is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company.

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 
Email: info@ebyinc.com 
www.ebyinc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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.



Emerald Bay Drills Final Four Wells of Multi-Well Drilling Program In South Texas

Friday, September 08, 2017 - 9:00am, Calgary, Alberta (FSCwire) - Emerald Bay is pleased to provide the following update to the Company’s press release of July 31, 2017. 

Drilling operations have been completed on the final four wells of the Marpat lease partnership.   The four wells are part of a 16 well program that began in February 2016.  While the final four wells were drilled on schedule prior to hurricane Harvey, the Company had to postpone completion operations, originally scheduled for August 29th and 30th, until later this month.  Fracture stimulations are currently scheduled for September 18th and 19th, and it is now anticipated that the wells will be equipped and producing by mid October.  Production numbers will be announced in the coming months.  This will complete the drilling program on the MarPat lease.  The MarPat partnerships are farmouts whereby the farmees pay 100% of the drilling and equipping costs for a 75% working interest in the wells.  As the operator and farmor, Emerald Bay earns a 25% carried working interest in the wells.  Additionally, the Company is also working with the MarPat lease partners to identify and assess new leases for future development.

About Emerald Bay

Emerald Bay Energy Inc. (EBY) is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000

Email: info@ebyinc.com

www.ebyinc.com.

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. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

 



Wednesday, August 23, 2017 - 4:13 PM EDT

Emerald Bay Announces Closing of Private Placement

 

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the "Corporation" or "Emerald Bay") today reported that the Corporation has closed its previously announced private placement. Pursuant to this closing, 32,000,000 units ("Units") were issued at a price of $0.01 per Unit, for aggregate consideration of $320,000.  Each Unit consisted of one (1) Common Share of the Corporation and one (1) share purchase warrant (the "Warrant") (each full Warrant shall entitle the holder thereof to purchase one (1) additional Common Share of the Corporation for a period of 12 months from the issuance of the Units at a price of $0.05) (the "Offering").  The Warrants are subject to an acceleration clause whereby if after four months and one day following the date the Warrants are issued, the closing price of the Common Shares of the Corporation on the principal market on which such shares trade is equal to or exceeds $0.10 for 30 consecutive trading days (with the 30th such trading date hereafter referred to as the "Eligible Acceleration Date"), the Warrant expiry date shall accelerate to the date which is 30 calendar days following the date a press release is issued by the Corporation announcing the reduced warrant term, provided, no more than five business days following the Eligible Acceleration Date: (i) the press release is issued; and (ii) notices are sent to all warrant holders 

The net proceeds will be used in respect to existing drilling commitments on the Corporation’s assets in Texas, specifically in relation to the following:

All of the Common Shares and Warrants issued pursuant to the private placement are subject to a 4-month hold period. The terms of the private placement are according to the TSX Venture Exchange Discretionary Waivers of $0.05 Minimum Pricing Requirement Bulletin dated April 7, 2014 and are subject to the final approval of the TSX Venture Exchange.

About Emerald Bay

Emerald Bay Energy Inc. (EBY)is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000

Email: info@ebyinc.com

www.ebyinc.com.

 

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.

 



Wednesday, August 09, 2017 - 5:30pm

 

 

Emerald Bay Announces Private Placement

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the "Corporation" or "Emerald Bay") today reported that the Corporation is proposing a private placement offering of up to $300,000 (up to maximum of 30,000,000 common shares ("Common Shares") of the Corporation).  The Common Shares are to be issued under a unit offering whereby up to a maximum of 30,000,000 units ("Units") at a subscription price of $0.01 per Unit are to be offered.  Each Unit shall consist of one (1) Common Share of the Corporation and one (1) share purchase warrant (the "Warrant") (each full Warrant shall entitle the holder thereof to purchase one (1) additional Common Share of the Corporation for a period of 12 months from the issuance of the Units at a price of $0.05) (the "Offering"). 

The Warrants are subject to an acceleration clause whereby if after four months and one day following the date the Warrants are issued, the closing price of the Common Shares of the Corporation on the principal market on which such shares trade is equal to or exceeds $0.10 for 30 consecutive trading days (with the 30th such trading date hereafter referred to as the "Eligible Acceleration Date"), the Warrant expiry date shall accelerate to the date which is 30 calendar days following the date a press release is issued by the Corporation announcing the reduced warrant term, provided, no more than five business days following the Eligible Acceleration Date: (i) the press release is issued; and (ii) notices are sent to all warrant holders. 

The net proceeds will be used in respect to existing drilling commitments on the Corporation’s assets in Texas, specifically in relation to the following:

 

At the Corporation’s Wooden Horse property – the Corporation will add a pumpjack or submersible pump to begin commercial production on the Kuhn 3 well at an approximate cost of $40,000 and the Corporation may also drill a short radius horizontal leg to increase production volume at an approximate cost of $65,000.  Additionally, the Corporation is currently evaluating drilling a new well (Kuhn 4) next to Kuhn 3, but in a position closer to the fault at an approximate cost of $88,000; and

 

At the Corporation’s Wooden Horse property - the Corporation plans to drill short radius horizontal legs in the Edwards A zone of the Kuhn 2 vertical well at a cost of approximately $60,000.

 

At the Corporation’s Nash Creek property - the Corporation plans to drill short radius horizontal legs to the fault detected by the 3D seismic in the BeauMar 1 well at a cost of approximately $68,000;

All of the Common Shares and Warrants issued pursuant to the private placement are subject to a 4-month hold period. The terms of the private placement are according to the TSX Venture Exchange Discretionary Waivers of $0.05 Minimum Pricing Requirement Bulletin dated April 7, 2014 and are subject to the final approval of the TSX Venture Exchange.

 

About Emerald Bay

Emerald Bay Energy Inc. (EBY)is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com.

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.

 

To view this press release as a PDF file, click onto the following link:

public://news_release_pdf/EmeraldBay08092017.pdf

Source: Emerald Bay Energy Inc. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

 



 

Emerald Bay Provides Update 0n Partnership Multi-Well Drilling Program in South Texas

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the “Corporation” or “Emerald Bay”) is pleased to provide an update on the Company’s partnership multi-well drilling program in South Texas.

Emerald Bay is pleased to announce that the Corporation will be completing the drilling program this month that was previously announced in February of 2016.   In addition to the initial eight wells drilled in 2016, eight more wells have been agreed to and will be completed in August.  The wells have been completed in the Anacocho, Olmos and Escondido formations.  All three formations show good indications of commercial viability.  It is anticipated that all sixteen wells will be completed, equipped, and producing by the end of August.  Production numbers will be announced in the coming months.  This will complete the drilling program on the MarPat lease.  The partnership is a farmout whereby the farmee pays 100% of the drilling and equipping costs for a 75% working interest in the wells.  As the operator and farmor, Emerald Bay earns a 25% carried working interest in the 16 wells. 

Emerald Bay and its partner are very pleased with the current economics of this type of development drilling despite current low commodity prices.   With over thirty years of experience in South Texas, management of Emerald Bay has established a good relationship with service companies and has been able to put together a cost effective drilling and completion program whereby a multi well drilling program in proven oil fields provides a strong return on investment.

 

About Emerald Bay

Emerald Bay Energy Inc. (EBY)is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where theCompany currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.ebyinc.com.

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.

 

To view this press release as a PDF file, click onto the following link:

public://news_release_pdf/EmeraldBayJuly312017.pdf

Source: Emerald Bay Energy Inc. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

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Wednesday, June 28, 2017 - 12:04 PM EDT

Emerald Bay Increases Ownership to 50% in Texas Projects and Provides Operational Update

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company”or“Emerald Bay”) announcedtoday thatthe Company has entered into anagreement whereby Emerald Bay will spend  $1,270,194.56 U.S. ($1,689,358.76 Cdn.) to increase its ownership in the Wooden Horse and Nash Creek  projects in Guadalupe County, Texas from 27.78% to 50%.

The Company will use funds from the previously announced loan facility agreement (see press release dated June 6, 2017) to facilitate the purchase with an effective date of June 1, 2017 and anticipated closing date of July 15, 2017.

The Company considers this purchase to be strategic, as the increased ownership percentage will enhance the Company’s ability to move the projects forward to the next phases of development.

At Wooden Horse, the Company has drilled and tested 1 horizontal and 3 vertical test wells to date in the Edwards, Buda, and Austin Chalk formations.  Additionally, the Company has drilled and completed a successful salt water disposal well and the tank battery is in place for future development. The Company also completed an extensive 3D Seismic program and drilled the Kuhn 3 well in 2016.  

The Kuhn 3 well has recently been completed in the Austin Chalk formation and flow testing began on June 5, 2017.   The well is flowing approximately 212bbls/day of total fluid with associated gas.  Based on results from an offset well, the Company anticipates that, in the coming weeks and months, the natural gas volume will decrease and the oil cut will increase.  At that point, the Company will add a pumpjack or submersible pump to begin commercial production or, alternatively, drill a short radius horizontal wellbore to increase production volume. 

The Kuhn 1H horizontal well was drilled several years ago and to date is not commercially viable.  At the time that Kuhn 1H was drilled, the decision was to complete the horizontal section in one of two possible intervals, the Edwards A Zone or the Edwards C Zone.   Although the A Zone had significantly higher permeability and porosity, as well as higher hydrocarbon content, the decision was made to drill the horizontal in the C Zone primarily because the C zone was thicker than the A Zone and there were concerns at the time about the directional drilling tools ability to stay in the A Zone.  The Company has been in recent discussions with several directional drilling companies about the technical advancements over the past few years that have greatly increased their ability to stay in zones like the Edward A Zone. Furthermore,  recent successes of other companies, now producing in the Edwards A zone, has encouraged the Company to focus  efforts on raising the capital to move forward with  plans to recomplete the Kuhn 1H well in the A zone or drill an entirely new horizontal well.  A recompletion of Kuhn 1H in the A zone would cost approximately $300,000 ($150,000 net to the Company).  A new Edwards horizontal in the A zone would cost approximately $600,000 ($300,000 net to the Company).

Subject to financing, the Company also has plans in place to drill short radius horizontal legs in the Edwards A zone of the Kuhn 2 vertical well in July or August at a cost to the Company of approximately $60,000.

At Nash Creek, the Company acquired the lease with an existing well on the lands that has produced over 60,000 barrels of oil since it was originally drilled in 1937.  The Company completed an extensive 3D seismic program over the lands in 2016 and two test wells have now been drilled to acquire sonic log and amplitude confirmation.   Completion operations of the BeauMar 1 well are now underway as the oil “fingerprint” compares to the existing producing well on the lands.   Subject to financing, the Company plans to drill short radius horizontal legs to the fault detected by the 3D seismic in the BeauMar 1 well in July or August at a cost to the Company of approximately $68,000.

 

About Emerald Bay

Emerald Bay Energy Inc. (EBY)is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where theCompany currently now owns a 50.00% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

 

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000

Email: info@ebyinc.com

 www.ebyinc.com.

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.  In particular, forward-looking information in this press release includes, but is not limited to, the use of proceeds of the aforementioned equity financing.  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, 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.

Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information.  Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; commodity prices; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and and other risks detailed in the Company's periodic report filings with the applicable securities regulators.  Readers are cautioned that this list of risk factors should not be construed as exhaustive.

The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation.  Readers are cautioned not to place undue reliance on forward-looking information.

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.

Source: Emerald Bay Energy Inc. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

 

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Tuesday, June 20, 2017 - 1:06 PM EDT

Emerald Bay Announces Acquisition

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announced today that the Company has entered into an agreement  whereby Emerald Bay will acquire certain non-operated working and net profit interests in 14 producing Cardium oil and gas wells near Edson, Alberta for $275,000.  Current net production to Emerald Bay from the wells is approximately 16 BOE/day.

Emerald Bay will use funds from the previously announced (see press release dated June 6, 2017) loan agreement with L&K Tire Inc. to facilitate this purchase.  The agreement has an effective date of June 1, 2017 and a closing date of June 30, 2017.   

 

About Emerald Bay

Emerald Bay Energy Inc. (EBY) is an energy company with oil producing properties in southwest Texas as well as non operated oil, natural gas, and electricity generation interests in Central Alberta, Canada.  EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently owns a 27.78% working interest in those projects. The Company also owns 75% of Production Resources Inc., a South Texas oil company. 

To stay informed on Emerald Bay Energy, please join our Investor Group at www.8020connect.com for all upcoming news releases, articles, comments and questions.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000

Email: info@ebyinc.com

 www.ebyinc.com.

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.

 

Source: Emerald Bay Energy Inc. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

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 Emerald Bay Announces Acquisition

CALGARY, ALBERTA / ACCESSWIRE / June 14, 2017 / Emerald Bay Energy Inc. (TSX-V: EBY) (the "Company" or "Emerald Bay") today announced that the Company has entered into an agreement, whereby Emerald Bay will increase its interest in Production Resources Inc. ("PRI") from 10% to 75% by acquiring from Tire Oil & Gas Inc. their 65% interest in PRI for $1,727,000 U.S ($2,314,180 CDN). During the year ended 2016, PRI had an average daily production rate of 60 bbls/day.

PRI is a Texas based company with its main assets, located south of San Antonio Texas, being two producing oil fields in Bexar, Atascosa, and Medina counties. PRI has its own field operating equipment, including two service rigs, which gives PRI the ability to maintain efficient operations and control costs effectively. With more than 40 surveyed drilling locations for future development, Emerald Bay will work with PRI to optimize current production while putting plans in place to drill new wells.

Emerald Bay considers this acquisition to be a key step in establishing a production base in South Texas as the Company moves forward with the next phase of development of its Wooden Horse and Nash Creek plays.

Emerald Bay will use funds from the previously announced (see press release dated June 6, 2017) loan agreement with L&K Tire Inc. to facilitate this purchase. The acquisition has an effective date of June 1, 2017.

About Emerald Bay

Emerald Bay Energy Inc. (EBY) is a diversified energy company with oil producing properties in southwest Texas as well as natural gas and electricity generation projects in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently owns a 27.78% working interest in those projects. In addition, the Company has numerous non-operated working interests in oil and gas properties in Central Alberta. The common shares trade on the TSX Venture Exchange under the symbol "EBY." Please visit www.ebyinc.com for more detail.

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at info@ebyinc.com.

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.

SOURCE: Emerald Bay Energy Inc.



Tuesday, June 06, 2017 - 4:06 PM EDT

Emerald Bay Announces New Credit Facility



Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company”or“Emerald Bay”) today announced that the Company has entered into a Loan Agreement (the “Loan”) with L&K Tire Inc.(the “Lender”).  The aggregate credit facilities under the Loan provides for the ability of Emerald Bay to borrow up to $6,225,000.  The Loan will have an interest free period until October, 2017 at which point the Loan will bear interest at a rate equal to the Prime Rate plus 1.5% per annum.  The Loan shall be payable upon demand being made by the Lender.  The Loan is secured over all the assets of the Company.

 

The initial proceeds of the Loan will be used to repay existing loans and payables, totaling approximately $1,925,000, to KD Lendingco Ltd. and Tire Oil & Gas.  The balance of the Loan, approximately $4,300,000 will be used for future acquisitions of oil & gas interests in South Texas and Alberta.

 

The Loan is subject to the acceptance of the TSX Venture Exchange.

 

Emerald Bay is also pleased to announce that it recently became a member of the 8020 Connect community. 8020 Connect (www.8020connect.com) is the investment industry's newest social investor network, developed to deliver corporate information to shareholders, investment industry experts and like-minded investors, while enabling these group members to interact with one another and with the Company's management team.

 

Through the 8020 Connect shareholder and investor network, Emerald Bay can communicate its corporate message and update advancements and financial information to all shareholders and investors in a timely and effective fashion. The 8020 Connect social media component provides direct interaction with shareholders, allowing the Company to respond to questions and inquiries directly or through our private investor group forums. The 8020 Connect network will also allow Emerald Bay to expand its audience to interested investors and industry experts worldwide.

 

About Emerald Bay

 

Emerald Bay Energy Inc. (EBY)is a diversified energy company with oil producing properties in southwest Texas as well as natural gas and electricity generation projects in Central Alberta, Canada. EBY is the operator of the Wooden Horse and Nash Creek Projects in Guadeloupe, Texas, where the Company currently owns a 27.78% working interest in those projects. In addition, the Company has numerous non-operated working interests in oil and gas properties in Central Alberta. The common shares trade on the TSX Venture Exchange under the symbol "EBY".  Please visit www.ebyinc.com for more detail.

 

For further information, please contact:

 

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at info@ebyinc.com

 

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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay06062017.pdf

Source: Emerald Bay Energy Inc. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)

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Wednesday, May 17, 2017 - 5:50pm

Emerald Bay Files Amended Management Discussion and Analysis

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announces that the Company filed an amended management discussion and analysis (the “Re-filed MD&A”) for the annual period ended December 31, 2016.  The nature and substance of the material changes to the Re-filed MD&A are as follows:

 

1.  The addition of Selected Annual Information for the three most recently completed financial years as required by section 1.3 of Form 51-102F1.

 2.  Related party clarification regarding the Company’s PRI investment.

 3.  Explanatory disclosure regarding a $200,000 share subscription receivable being netted against share capital as at December 31, 2016.

 4.  Information about any person or company known to beneficially own 10 percent or more of the voting securities of the Company.

 5.  Information regarding a director of the Company that had previously served as director of another company that, in 2010, had filed for CCAA proceedings.

 

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.ebyinc.com.

 

-30-

 For further information, please contact:

 Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at info@ebyinc.com,

 Or

 CHF Investor Relations:

D’Arcy Funfer, (403) 669-5157, darcy@chfir.com.

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay05172017.pdf

Source: Emerald Bay Energy Inc. (TSX Venture:EBY, OTC Bulletin Board:EMBYF)


 

EMERALD BAY FILES AMENDED FINANCIAL STATEMENTS

Calgary, Alberta, April 17, 2017 – Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) previously announced on March 28, 2017 that the Company had filed amended financial statements together with an amended management discussion and analysis (together, the “interim filings”) for the interim period ended September 30, 2016.  This press release replaces and supersedes the March 28, 2017 press release.

The Company had previously reported in the three and nine months ended September 30, 2016 a recovery of $819,870 of accounts payable to certain vendors (the “Vendors”).  The accounts payable to these Vendors have been outstanding as owing by the Company for 2 or more years.  Pursuant to internal discussions, the Company has decided to remove these transactions from the amended unaudited interim filings. 

 

The summary of the adjustments and the impact to the nine months ended September 30, 2016 is as follows:

       

 

September 30, 2016

As Previously Reported

$

Adjustments

$

As Amended

$

Accounts payable

3,496,316

819,870

4,316,186

Shareholder deficit

(3,020,259)

(819,870)

(3,840,129)


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.ebyinc.com.

-30-

For further information, please contact:

Emerald Bay President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at info@ebyinc.com,

or

CHF Investor Relations:

D’Arcy Funfer, (403) 410-6221, darcy@chfir.com. 

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.