Nexera Enters Joint Venture With Alliance Petroleum Interests to Drill Huebinger E1 Well

Rhea-AI Summary

Nexera Energy Inc. (OTC PINK: EMBYF) announced a joint venture with Alliance Petroleum to drill the Huebinger E1 well on its Huebinger lease in South Texas. This marks the company's first drilling operation on the lease. Additionally, Nexera reported that the Stockdale Horizon well #1H has been spudded. Nexera operates various oil projects in Southwest Texas, including the Lavernia and Wooden Horse.

Positive

• Joint venture with Alliance Petroleum to drill Huebinger E1 well enhances operational capacity.
• Spudding of Stockdale Horizon well #1H indicates ongoing expansion efforts.

Negative

• None.

CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / December 8, 2020 / Nexera Energy Inc. (TSXV:NGY)(OTC PINK:EMBYF) (the "Company" or "Nexera") announced today that the Company has entered into a joint venture with Alliance Petroleum Interests ("Alliance") of Dallas, Texas to drill an Austin Chalk well on the Company's Huebinger lease in South Texas. As previously announced on June 22, 2020, the Huebinger E1 well will be the Company's first well drilled on the Huebinger lease.

Additionally, the Company is pleased to report that the Stockdale Horizon well #1H was spudded earlier this morning and further information will be reported as it becomes available.

About Nexera Energy Inc.

Nexera Energy Inc. (TSXV: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
(403) 262-6000
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/620025/Nexera-Enters-Joint-Venture-With-Alliance-Petroleum-Interests-to-Drill-Huebinger-E1-Well

FAQ

What is the significance of Nexera Energy's joint venture with Alliance Petroleum?

The joint venture allows Nexera to drill the Huebinger E1 well, marking its first drilling on the Huebinger lease, which could enhance production capabilities.

What does the spudding of the Stockdale Horizon well #1H mean for Nexera Energy?

The spudding of the Stockdale Horizon well #1H indicates that Nexera is actively expanding its drilling operations, potentially increasing its oil production.

When was the Huebinger E1 well drilling announced by Nexera Energy?

The drilling of the Huebinger E1 well was announced on December 8, 2020.

What is the stock symbol for Nexera Energy?

The stock symbol for Nexera Energy is EMBYF.

Where are Nexera Energy's oil properties located?

Nexera Energy's oil properties are located in Southwest Texas.