CALGARY, ALBERTA, and SAN ANTONIO, TX / ACCESSWIRE / July 13, 2020 / Nexera Energy Inc. (TSXV:NGY)(OTC PINK:EMBYF) (the "Company" or "Nexera") is pleased to announce that the Company has agreed to terms with API Horizon Joint Venture ("Horizon JV") of Dallas, Texas, to drill a new 5000' short radius horizontal well on the Company's Stockdale Horizon prospect. Horizon JV will pay 100% of the drilling and completion costs to earn a 75% working interest in the well. Nexera will retain a 25% working interest in the well at no cost to the Company.
Shelby Beattie, President and CEO of Nexera commented: "The Stockdale Horizon prospect has been developed to target potential high impact directional and horizontal wells in the Austin Chalk formation at approximately 5000' deep. Finding a partner to drill a new exploration well on the prospect during these times is very exciting for the Company and we look forward to our partnership with Horizon JV."
About Nexera Energy Inc.
Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is owner and operator of the Lavernia, Wooden Horse and Nash Creek Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Cotulla, and MarPat partnerships. The Company also owns 75% of Production Resources Inc., a South Texas oil company.
For further information, please contact:
Nexera Energy Inc. President, Shelby D. Beattie, by telephone at (403) 262-6000
Email: info@ebyinc.com
www.nexeraenergy.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: Nexera Energy Inc.
View source version on accesswire.com:
https://www.accesswire.com/597347/Nexera-Announces-5000-Austin-Chalk-Well-in-Partnership-With-API-Horizon-Joint-Venture
