NEXERA OPERATIONAL UPDATE
Nexera Energy Inc. (TSX Venture: NGY, OTC: EMBYF) (the “Corporation”, the “Company” or “Nexera”) is pleased to provide the following update.
As the Covid-19 pandemic has continued through 2021there have been unprecedented labor shortage sacross America, especially in the oil & gas sector of South Texas. These, third party, staffing shortages have caused numerous project delays for Nexera. With surging oil prices, industry service providers throughout South Texas have recently been staffing up their operations and Nexera is moving quickly to get projects progressing that were originally scheduled earlier this year. Despite these industry labor shortages, Nexera has been fortunate to maintain internal staffing levels to operate and complete projects that don’t require third party services.
The Company is pleased to report that the Huebinger E1 well, at the Company’s Wooden Horse property,has successfully been brought on line and initial production numbers will be released as they become available.
Earlier this year, the Company drilled its first high impact horizontal Austin Chalk well (McGrew 1H) at the Company’s Stockdale Horizon property. The Company is currently equipping the McGrew 1H wellto begin production within the next week. The Company has begun the process to lease additional lands on trend with the McGrew 1H well to expand the Stockdale Horizon project.
Additionally, the Company recently launched its new website www.nexeraenergy.com
Shelby Beattie, President and CEO of Nexera commented: “Although labor shortages throughout the pandemic have made it challenging to move projects forward in a timely manner,we are seeing a renewed excitement in the industry as service providers gear up to take advantage of the high energy prices forecasted for the foreseeable future. Having our own service equipment continues to provide Nexera with the unique ability to efficiently maintain operations during these times as we move towards increasing our land position along the Stockdale Horizon trend to drill new horizontal wells in the months ahead.”
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 Stockdale Horizon Projects. Additionally, the Company owns and operates various working interests in the HugoCellR, HagCo, and MarPat partnerships. The Company also now owns 100% 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@nexeraenergy.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.
