Nexera and Hugo Gutierrez (“Hagco”) to Test for Poth Play at Stockdale

Rhea-AI Summary

Nexera Energy (OTC PINK: EMBYF) announced it will perforate and test the Poth sand formation at the Lerma #2 well, part of its Stockdale Horizon project in South Texas. This well is in close proximity to the recently drilled Stockdale Horizon 1H well, which showed promising hydrocarbons while drilling. The company aims to confirm the productivity of the Poth formation, potentially establishing a new play at Stockdale. Nexera operates 540 oil wells and is focused on resource expansion in the region.

Positive

• Testing the Poth sand formation could lead to significant resource discoveries.
• Proximity to Stockdale Horizon 1H suggests potential for productive wells.

Negative

• None.

SAN ANTONIO, TX and CALGARY, AB / ACCESSWIRE / February 9, 2021 / (TSXV:NGY) (OTC PINK:EMBYF) (the "Company" or "Nexera") a South Texas operator of 540 oil wells, focused on further resource expansion, is pleased to announce the company will perforate and test the Poth sand formation in the Lerma #2 well at its Stockdale Horizon project. The Lerma lease is owned equally by the Company and its partner Hugo Gutierrez Jr. ("HAGCO"). Lerma #2 is an existing vertical well in close proximity to the recently drilled Stockdale Horizon 1H well.

With Stockdale Horizon 1H being completed as an Austin Chalk horizontal well, Lerma #2's close proximity represents an opportunity for the Company to test the Poth formation, prior to the receipt of final results at Stockdale Horizon 1H, in an existing well in order to confirm Poth productivity with the goal of establishing a Poth play at Stockdale. As reported on December 22, 2020 the Company observed hydrocarbons, with good oil shows at surface, while drilling through the Poth formation in the Stockdale Horizon 1H well.

About Nexera Energy Inc.

Nexera Energy Inc. (TSX Venture: NGY) is an energy company with oil producing properties in Southwest Texas. Nexera is the owner and operator of the Lavernia, Wooden Horse, and Stockdale Horizon Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, Hagco, Alliance, 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
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/628570/Nexera-and-Hugo-Gutierrez-Hagco-to-Test-for-Poth-Play-at-Stockdale

FAQ

What is Nexera Energy's plan for the Lerma #2 well?

Nexera Energy plans to perforate and test the Poth sand formation in the Lerma #2 well to evaluate its productivity.

What findings were reported from the Stockdale Horizon 1H well?

The Stockdale Horizon 1H well showed promising hydrocarbons while drilling through the Poth formation.

What is the significance of the proximity between Lerma #2 and Stockdale Horizon 1H?

The close proximity allows Nexera to test the Poth formation's productivity before receiving final results from the Stockdale Horizon 1H well.

What is the stock symbol for Nexera Energy?

Nexera Energy trades under the stock symbol EMBYF on the OTC market.

When was the press release issued regarding the Poth play testing?

The press release was issued on February 9, 2021.