EBY Emerald Bay Energy Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Emerald Bay Energy Inc. (TSX VENTURE:EBY) (the "Corporation" or "Emerald Bay")
today reported that the Corporation is proposing a private placement offering of
up to $1,500,000 (up to maximum of 30,000,000 common shares ("Common Shares") of
the Corporation). The Common Shares are to be issued under a unit offering
whereby up to a maximum of 30,000,000 units ("Units") at a subscription price of
$0.05 per Unit are to be offered. Each Unit shall consist of one (1) Common
Share of the Corporation and one (1) share purchase warrant (the "Warrant")
(each full Warrant shall entitle the holder thereof to purchase one (1)
additional Common Share of the Corporation for a period of 12 months from the
issuance of the Units at a price of $0.05) (the "Offering").


The Warrants are subject to an acceleration clause whereby if after four months
and one day following the date the Warrants are issued, the closing price of the
Common Shares of the Corporation on the principal market on which such shares
trade is equal to or exceeds $0.10 for 30 consecutive trading days (with the
30th such trading date hereafter referred to as the "Eligible Acceleration
Date"), the Warrant expiry date shall accelerate to the date which is 30
calendar days following the date a press release is issued by the Corporation
announcing the reduced warrant term, provided, no more than five business days
following the Eligible Acceleration Date: (i) the press release is issued; and
(ii) notices are sent to all warrant holders. 


The net proceeds will be used for exploration and expansion of the Corporation's
South Texas property and general working capital needs. 


All of the Common Shares and Warrants issued pursuant to the private placement
are subject to a 4-month hold period. Completion of the private placement is
subject to the final approval of the TSX Venture Exchange.


About Emerald Bay

Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with
production properties in Western Canada and South Texas. The common shares of
Emerald Bay trade on the TSX Venture Exchange under the symbol "EBY". Please
visit our website at www.emeraldbayenergy.com. 


If you would like to receive press releases via email please contact
john@chfir.com. Please specify "Emerald Bay press releases" in the subject line.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Emerald Bay Energy Inc.
Shelby D. Beattie
President
(403) 262-6000
info@ebyinc.com


CHF Investor Relations
Robin Cook
Senior Account Manager
(416) 868-1079 x228
robin@chfir.com

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