Emerald Bay set to start Q4 drilling program in Central Alberta

The Energy Resources Conservation Board of Alberta (ERCB) has just approved two well license applications at Dorenlee (43-20 W4), which now allows the Company to initiate its fourth quarter drilling program in Central Alberta. The Company confirms that it has secured the necessary drilling rig and anticipates it being on location shortly (on or about October 19, 2008).

The program will begin with three wells drilled at Dorenlee, where Emerald Bay has an existing well and facilities with a 44% working interest; zones of interest will be the Edmonton Sands, Horseshoe Canyon Coals, Belly River, and Basal Belly River. The Q4 program will then continue with a well at Joffre (39-25 W4). Additional well license applications for Q4 drilling are currently in process at the ERCB and will be announced as the Company receives them.

Commenting on the program, Shelby Beattie, President of Emerald Bay, said: “While the well license approval process has taken a little longer than we anticipated, it has allowed us to align services and materials to efficiently execute the Q4 program in a timely manner”.

Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with production properties in Western Canada. The common shares of Emerald Bay trade on the TSX Venture Exchange under the symbol “EBY”. Please visit our website at www.emeraldbayenergy.com.