CALGARY, AB and SAN ANTONIO, TX / ACCESSWIRE / July 17, 2020 / Nexera Energy Inc. (TSXV:NGY)(OTC PINK:EMBYF) (the “Company” or “Nexera”) is pleased to announce that the Company, in partnership with API Horizon Joint Venture (“Horizon JV”) of Dallas, Texas, has leased the mineral rights to two tracts of land in Wilson County, Texas. The new lease adds approximately 100 acres to the Company’s Stockdale Horizon prospect, and secures the necessary acreage for the partnership to move forward with plans to drill a 5000′ deep horizontal test well in the Austin Chalk formation.
Horizon JV will pay 100% of the land acquisition, drilling, and completion costs to earn a 75% working interest in the well. Nexera will retain a 25% working interest in the well at no cost to the Company.
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:
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: