NEXERA AND HUGO GUTIERREZ (“HAGCO”) TO TEST FOR POTH PLAY AT STOCKDALE
Nexera Energy Inc. (TSXV: NGY, OTC: 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, 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.
