Mon, 01 Mar 2021

Nexera Begins Drilling Huebinger E1 Well

18 Jan 2021, 23:55 GMT+10

CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / January 18, 2021 / Nexera Energy Inc. (TSXV:NGY)(OTC PINK:EMBYF) (the 'Company' or 'Nexera') is pleased to announce that the Company has spudded the first well on the Huebinger lease at the Company's Wooden Horse project in South Texas. To minimize the potential of water inflow, Huebinger E1 will be the first well drilled at Wooden Horse using the Company's new drilling methodology to target the productive Austin Chalk formation and not drill into the Edwards formation. The Huebinger E1 location and potential second location were chosen as they are on trend and structurally up-dip from the Company's producing Kuhn wells. Huebinger E1 is being drilled in partnership with Alliance Petroleum Interests ('Alliance'), of Dallas, Texas whereby Alliance will pay 100% of the costs to drill and complete the well and Nexera will retain 25% of its interest at no cost to the Company. Partnerships for additional wells on the Huebinger lease are in discussions and the Company's percentage interest in future wells may vary.

Additionally, the Company is pleased to report that testing operations are continuing at the recently drilled Stockdale Horizon 1H well, and further information will be provided 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 the 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, by telephone at (403) 262-6000

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.

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