Emerald Bay Energy Sees good Results from Alberta Well

Emerald Bay Energy is very encouraged by the open-hole logs at its Edson well in West Central Alberta which show strong indications of both oil and gas. The well has been cased and cemented and flow-testing will commence after spring break-up, when road-bans have been lifted.

At Conrad, Alberta the weather conditions improved substantially and the Company has commenced drilling operations of its Sawtooth test well and should reach total depth by April 2nd, 2004. If successful, additional development locations will be evaluated on Company Lands in the Area.

Emerald Bay's geological, engineering and land team continue to evaluate other development and exploration prospects in Alberta and Saskatchewan.