EMERALD BAY ENERGY INC

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Emerald Bay Energy Inc.  is an emerging oil and gas producer headquartered in Calgary, Alberta, Canada with productio......

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EMERALD BAY ENERGY INC

lockPrivate Group

Emerald Bay Energy Inc.  is an emerging oil and gas producer headquartered in Calgary, Alberta, Canada with productio... ...

people100 Members

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NicknStock NicknStock posted an update in the group EMERALD BAY ENERGY INC

WTI Crude US oil is UP




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8020Admin7 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Acquires Mineral Lease Adjacent to Kuhn 4 Well

Emerald Bay Acquires Mineral Lease Adjacent to Kuhn 4 Well

Emerald Bay Acquires Mineral Lease Adjacent to Kuhn 4 Well

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Company has leased mineral rights to 91.72 acres adjacent to the Kuhn lease at the Company’s Wooden Horse play in South Texas.  Additionally, the Company has selected the location for Kuhn 5 to be drilled as a Buda target.  The well will be surveyed and permitted in the coming weeks.  

 

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBayJan92018.pdf

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




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mikerice posted an update in the group EMERALD BAY ENERGY INC

Hello Emerald Bay shareholders and interested investors. I've posted the following eNewsletter for your review. Please click on the link below the image to view the full document and contact me if you have any questions. Thanks, Mike Rice CFO

Eby2

https://8020connect.s3.amazonaws.com/uploads/image/file/523/EBY_Newsletter_Jan_2018.pdf




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8020Admin12 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Announces Closing of Second/Final Tranche of Private Placement

Emerald Bay Announces Closing of Second/Final Tranche of Private Placement

 

Emerald Bay Announces Closing of Second/Final Tranche 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 the final tranche of its previously announced private placement. Pursuant to this fully subscribed closing of the private placement, an aggregate 10,000,000 units ("Units") were issued to four (4) subscribers (of which 2,000,000 Units were acquired by an officer of the Corporation and 6,500,000 were acquired by an insider of the Corporation) at a price of $0.015 per Unit, for aggregate consideration of $150,000 ($250,000 was raised on Tranche 1 which closed on December 20, 2017 (on the same terms as this closing)).  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 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: (i) will add lifting equipment to begin production operations on the recently drilled Kuhn 4 well, at an approximate cost of  USD$22,500; (ii) is evaluating locations for two new wells (Kuhn 5 and Kuhn 6) to be drilled as Buda formation targets at an estimated cost of USD$65,000 each; it is also anticipated that completing and equipping Kuhn 5 and Kuhn 6 will cost USD$35,000 each; and (iii) will renew leased acreage and lease acreage adjacent to the Wooden Horse property at an approximate cost of USD$35,000; and

 

  • 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 an approximate cost of USD$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 completion of the private placement is 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 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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay01032018.pdf

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

 




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Sid replied 13 days ago
mike - can you give us an update on the well flow, and if not, can you tell us approximately when we can expect to hear more on the Kuhn well. TIA
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Hello Sid, Thank you for the question. I don't have any numbers to update yet. The well went on production right before Christmas and we had some operational issues with the pump jack over the holidays that have been sorted out now. Additionally, with these types of "micro-fractured" formations, it is crucial to bring the well on cautiously, which we are doing. It will likely be several more weeks before we see all the kill fluid back and are confident what the initial production numbers look like. We will update you as soon as possible. Don't hesitate to ask if you have any other questions. Thanks, Mike Rice CFO
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Sid replied 12 days ago
Thanks mike
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Sid replied 10 days ago
Hi Mike - I was wondering if the company has prepared any pro-forma financial statements for 2018. Specifically, I was wondering if you have a forecast for segmented revenue for the full year 2018. A breakdown of oil, gas, and NGL would be great if you have it.
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Hello Sid, No, we do not disseminate pro-forma financial statements. Thanks, Mike
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Sid replied 10 days ago
Thanks Mike. It was worth a try.


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NicknStock NicknStock posted an update in the group EMERALD BAY ENERGY INC

Happy new year to Emerald Bay, the best to come in 2018!!! Also, post on Twitter for the next year!




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mikerice posted an update in the group EMERALD BAY ENERGY INC

Hello Emerald Bay shareholders and interested investors. With Kuhn 4 now on production, I thought I'd post a picture of the Kuhn tank battery. Mike Rice CFO

Tanks

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Mike, can you explain how these equipments work? What is the purpose of small tanks and the utility of the large tank? How much volume can you manage with these equipments?
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Thank you for your question Louis. The tall tank is called a gun barrel. The one you see in the picture has a 1000 barrel capacity. A gun barrel is a settling tank used for treating oil. Oil and brine (water) are separated only by gravity segregation forces. The clean oil floats to the top and flows over into the shorter production tanks (300 barrel capacity each). The brine is removed from the bottom of the tank and transferred via pump to our disposal well (Kuhn SWD). The disposal well is capable of handling up to 40,000 barrels/day of water. The equipment (tank battery) you see in the picture, as well as the disposal well, were significant investments costing over $1,000,000 in total. With these facilities in place we have the capacity to handle many more producing wells in the future. Let me know if you have any additional questions. Thanks, Mike Rice CFO
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Louis, I just re-read my post and to clarify, the disposal well is capable of handling up to 40,000 barrels of water per day. Thanks, Mike
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Thank you for the answer !


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Kyle P posted an update in the group EMERALD BAY ENERGY INC

Thanks for all of the updates mike. Cheers




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mikerice posted an update in the group EMERALD BAY ENERGY INC

Hello Emerald Bay Shareholders and interested investors. We are happy to have the Kuhn 4 well at Wooden Horse pumping as of late last night. We are also excited to have closed the $250,000 tranche or our financing. As noted in the November 20 press release, we are moving forward with choosing our next drilling locations. If you have any questions, please ask. Thank you, Michael Rice CFO

Img 0298

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Good job, mike! Two questions.. how many barrels are you estimating from this well?... Are you still on track to drill well 5 and 6 next month?


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8020Admin26 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Kuhn 4 Well Commences Production

Emerald Bay Energy Inc.: Kuhn 4 Well Commences Production

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Kuhn 4 well at Wooden Horse has been tied in and production operations have begun.  Additional information will be forthcoming in the weeks ahead once initial production rates have stabilized.

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay12212017.pdf




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8020Admin26 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Announces Increase to Private Placement

Emerald Bay Announces Increase to Private Placement and Closing of First Tranche 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 the first tranche of its previously announced private placement. Pursuant to this first closing, an aggregate 16,666,667 units ("Units") were issued to two (2) subscribers at a price of $0.015 per Unit, for aggregate consideration of $250,000.  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.

 

Emerald Bay further reported that it has increased the total private placement/Offering from an aggregate $300,000 (see press release dated November 21, 2017) to an aggregate $400,000.  No other terms of the private placement have been altered.

The net proceeds will be used in respect 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: (i) will add lifting equipment to begin production operations on the recently drilled Kuhn 4 well, at an approximate cost of  $22,500; (ii) is evaluating locations for two new wells (Kuhn 5 and Kuhn 6) to be drilled as Buda formation targets at an estimated cost of $65,000 each; and (iii) will renew leased acreage and lease acreage adjacent to the Wooden Horse property at an approximate cost of $35,000; and

 

  • 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 an approximate cost of $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 completion of the private placement is 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 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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay12202017.pdf




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8020Admin26 days

8020Admin  started the topic EMERALD BAY ENERGY INC $EBY: News Alert Announces Increase to Private Placement

Emerald Bay Announces Increase to Private Placement and Closing of First Tranche 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 the first tranche of its previously announced private placement. Pursuant to this first closing, an aggregate 16,666,667 units ("Units") were issued to two (2) subscribers at a price of $0.015 per Unit, for aggregate consideration of $250,000. 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.

Emerald Bay further reported that it has increased the total private placement/Offering from an aggregate $300,000 (see press release dated November 21, 2017) to an aggregate $400,000. No other terms of the private placement have been altered.

The net proceeds will be used in respect 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: (i) will add lifting equipment to begin production operations on the recently drilled Kuhn 4 well, at an approximate cost of $22,500; (ii) is evaluating locations for two new wells (Kuhn 5 and Kuhn 6) to be drilled as Buda formation targets at an estimated cost of $65,000 each; and (iii) will renew leased acreage and lease acreage adjacent to the Wooden Horse property at an approximate cost of $35,000; and
  • 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 an approximate cost of $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 completion of the private placement is 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 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.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay12202017.pdf

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

To follow Emerald Bay Energy Inc. on your favorite social media platform or financial websites, please click on the icons below.




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Alex McLean posted an update in the group EMERALD BAY ENERGY INC

What's the update, William Allard?




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william allard posted an update in the group EMERALD BAY ENERGY INC




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Louis Paul posted an update in the group EMERALD BAY ENERGY INC

Hello Mike,can you give us a new update on the private placement and production at Kuhn 4 ? Thanks !




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mikerice posted an update in the group EMERALD BAY ENERGY INC

In response to questions from several shareholders with regards to a share consolidation, I would like to reiterate the Company's position as stated at the AGM that there are no plans in the foreseeable future for a share consolidation. If you have any questions please feel free to ask. Thank you, Michael Rice CFO




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NicknStock NicknStock posted an update in the group EMERALD BAY ENERGY INC

22 millions volumes today! We hope for good news to come!




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NicknStock NicknStock posted an update in the group EMERALD BAY ENERGY INC

WTI Crude US oil is UP




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8020Admin7 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Acquires Mineral Lease Adjacent to Kuhn 4 Well

Emerald Bay Acquires Mineral Lease Adjacent to Kuhn 4 Well

Emerald Bay Acquires Mineral Lease Adjacent to Kuhn 4 Well

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc.  (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Company has leased mineral rights to 91.72 acres adjacent to the Kuhn lease at the Company’s Wooden Horse play in South Texas.  Additionally, the Company has selected the location for Kuhn 5 to be drilled as a Buda target.  The well will be surveyed and permitted in the coming weeks.  

 

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBayJan92018.pdf

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




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mikerice posted an update in the group EMERALD BAY ENERGY INC

Hello Emerald Bay shareholders and interested investors. I've posted the following eNewsletter for your review. Please click on the link below the image to view the full document and contact me if you have any questions. Thanks, Mike Rice CFO

Eby2

https://8020connect.s3.amazonaws.com/uploads/image/file/523/EBY_Newsletter_Jan_2018.pdf




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8020Admin12 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Announces Closing of Second/Final Tranche of Private Placement

Emerald Bay Announces Closing of Second/Final Tranche of Private Placement

 

Emerald Bay Announces Closing of Second/Final Tranche 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 the final tranche of its previously announced private placement. Pursuant to this fully subscribed closing of the private placement, an aggregate 10,000,000 units ("Units") were issued to four (4) subscribers (of which 2,000,000 Units were acquired by an officer of the Corporation and 6,500,000 were acquired by an insider of the Corporation) at a price of $0.015 per Unit, for aggregate consideration of $150,000 ($250,000 was raised on Tranche 1 which closed on December 20, 2017 (on the same terms as this closing)).  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 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: (i) will add lifting equipment to begin production operations on the recently drilled Kuhn 4 well, at an approximate cost of  USD$22,500; (ii) is evaluating locations for two new wells (Kuhn 5 and Kuhn 6) to be drilled as Buda formation targets at an estimated cost of USD$65,000 each; it is also anticipated that completing and equipping Kuhn 5 and Kuhn 6 will cost USD$35,000 each; and (iii) will renew leased acreage and lease acreage adjacent to the Wooden Horse property at an approximate cost of USD$35,000; and

 

  • 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 an approximate cost of USD$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 completion of the private placement is 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 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.



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay01032018.pdf

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

 




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Sid replied 13 days ago
mike - can you give us an update on the well flow, and if not, can you tell us approximately when we can expect to hear more on the Kuhn well. TIA
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Hello Sid, Thank you for the question. I don't have any numbers to update yet. The well went on production right before Christmas and we had some operational issues with the pump jack over the holidays that have been sorted out now. Additionally, with these types of "micro-fractured" formations, it is crucial to bring the well on cautiously, which we are doing. It will likely be several more weeks before we see all the kill fluid back and are confident what the initial production numbers look like. We will update you as soon as possible. Don't hesitate to ask if you have any other questions. Thanks, Mike Rice CFO
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Sid replied 12 days ago
Thanks mike
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Sid replied 10 days ago
Hi Mike - I was wondering if the company has prepared any pro-forma financial statements for 2018. Specifically, I was wondering if you have a forecast for segmented revenue for the full year 2018. A breakdown of oil, gas, and NGL would be great if you have it.
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Hello Sid, No, we do not disseminate pro-forma financial statements. Thanks, Mike
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Sid replied 10 days ago
Thanks Mike. It was worth a try.


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NicknStock NicknStock posted an update in the group EMERALD BAY ENERGY INC

Happy new year to Emerald Bay, the best to come in 2018!!! Also, post on Twitter for the next year!




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mikerice posted an update in the group EMERALD BAY ENERGY INC

Hello Emerald Bay shareholders and interested investors. With Kuhn 4 now on production, I thought I'd post a picture of the Kuhn tank battery. Mike Rice CFO

Tanks

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Mike, can you explain how these equipments work? What is the purpose of small tanks and the utility of the large tank? How much volume can you manage with these equipments?
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Thank you for your question Louis. The tall tank is called a gun barrel. The one you see in the picture has a 1000 barrel capacity. A gun barrel is a settling tank used for treating oil. Oil and brine (water) are separated only by gravity segregation forces. The clean oil floats to the top and flows over into the shorter production tanks (300 barrel capacity each). The brine is removed from the bottom of the tank and transferred via pump to our disposal well (Kuhn SWD). The disposal well is capable of handling up to 40,000 barrels/day of water. The equipment (tank battery) you see in the picture, as well as the disposal well, were significant investments costing over $1,000,000 in total. With these facilities in place we have the capacity to handle many more producing wells in the future. Let me know if you have any additional questions. Thanks, Mike Rice CFO
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Louis, I just re-read my post and to clarify, the disposal well is capable of handling up to 40,000 barrels of water per day. Thanks, Mike
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Thank you for the answer !


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Kyle P posted an update in the group EMERALD BAY ENERGY INC

Thanks for all of the updates mike. Cheers




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mikerice posted an update in the group EMERALD BAY ENERGY INC

Hello Emerald Bay Shareholders and interested investors. We are happy to have the Kuhn 4 well at Wooden Horse pumping as of late last night. We are also excited to have closed the $250,000 tranche or our financing. As noted in the November 20 press release, we are moving forward with choosing our next drilling locations. If you have any questions, please ask. Thank you, Michael Rice CFO

Img 0298

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Good job, mike! Two questions.. how many barrels are you estimating from this well?... Are you still on track to drill well 5 and 6 next month?


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8020Admin26 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Kuhn 4 Well Commences Production

Emerald Bay Energy Inc.: Kuhn 4 Well Commences Production

Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) is pleased to announce that the Kuhn 4 well at Wooden Horse has been tied in and production operations have begun.  Additional information will be forthcoming in the weeks ahead once initial production rates have stabilized.

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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay12212017.pdf




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8020Admin26 days

8020Admin  started the topic EMERALD BAY ENERGY INC EBY News Alert: Announces Increase to Private Placement

Emerald Bay Announces Increase to Private Placement and Closing of First Tranche 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 the first tranche of its previously announced private placement. Pursuant to this first closing, an aggregate 16,666,667 units ("Units") were issued to two (2) subscribers at a price of $0.015 per Unit, for aggregate consideration of $250,000.  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.

 

Emerald Bay further reported that it has increased the total private placement/Offering from an aggregate $300,000 (see press release dated November 21, 2017) to an aggregate $400,000.  No other terms of the private placement have been altered.

The net proceeds will be used in respect 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: (i) will add lifting equipment to begin production operations on the recently drilled Kuhn 4 well, at an approximate cost of  $22,500; (ii) is evaluating locations for two new wells (Kuhn 5 and Kuhn 6) to be drilled as Buda formation targets at an estimated cost of $65,000 each; and (iii) will renew leased acreage and lease acreage adjacent to the Wooden Horse property at an approximate cost of $35,000; and

 

  • 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 an approximate cost of $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 completion of the private placement is 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 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.


To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay12202017.pdf




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8020Admin26 days

8020Admin  started the topic EMERALD BAY ENERGY INC $EBY: News Alert Announces Increase to Private Placement

Emerald Bay Announces Increase to Private Placement and Closing of First Tranche 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 the first tranche of its previously announced private placement. Pursuant to this first closing, an aggregate 16,666,667 units ("Units") were issued to two (2) subscribers at a price of $0.015 per Unit, for aggregate consideration of $250,000. 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.

Emerald Bay further reported that it has increased the total private placement/Offering from an aggregate $300,000 (see press release dated November 21, 2017) to an aggregate $400,000. No other terms of the private placement have been altered.

The net proceeds will be used in respect 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: (i) will add lifting equipment to begin production operations on the recently drilled Kuhn 4 well, at an approximate cost of $22,500; (ii) is evaluating locations for two new wells (Kuhn 5 and Kuhn 6) to be drilled as Buda formation targets at an estimated cost of $65,000 each; and (iii) will renew leased acreage and lease acreage adjacent to the Wooden Horse property at an approximate cost of $35,000; and
  • 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 an approximate cost of $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 completion of the private placement is 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 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.

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/EmeraldBay12202017.pdf

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

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Alex McLean posted an update in the group EMERALD BAY ENERGY INC

What's the update, William Allard?




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william allard posted an update in the group EMERALD BAY ENERGY INC




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Louis Paul posted an update in the group EMERALD BAY ENERGY INC

Hello Mike,can you give us a new update on the private placement and production at Kuhn 4 ? Thanks !




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mikerice posted an update in the group EMERALD BAY ENERGY INC

In response to questions from several shareholders with regards to a share consolidation, I would like to reiterate the Company's position as stated at the AGM that there are no plans in the foreseeable future for a share consolidation. If you have any questions please feel free to ask. Thank you, Michael Rice CFO




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NicknStock NicknStock posted an update in the group EMERALD BAY ENERGY INC

22 millions volumes today! We hope for good news to come!