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Emerald Bay Begins Drilling Program at Taylor-Ina, Texas; Shares Off 9%

Emerald Bay Energy Inc. (EBY.V) is moving forward with a second multi-well drilling program in the Taylor-Ina field of Medina Country, Texas, through its 25% ownership of Production Resources Inc. Twelve wells (3 net wells) are planned through Q2 2013.

JN Wilson A, Well 1B reached total depth yesterday, and the open-hole log was consistent with expectations and consistent oil "shows" were observed confirming the target Olmos sands.

The wells will be drilled and completed in 4 well packages. Completion operations are scheduled to begin April 8, with production operations expected to begin the week of April 22.

EBY shares were down half-a-cent at $0.05.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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