VANCOUVER, BRITISH COLUMBIA–(Marketwired – Nov. 13, 2013) – (TSX VENTURE:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company“) is pleased to report the following update on its operations.
Blackbird is currently licensing its first Midale well on its Bromhead land base where it holds a 100% working interest in two sections (1,280 acres) of land. The application is to re-enter an existing wellbore located at 1-27-3-13W2 to test the Midale formation. This re-entry is focused on by-passed light oil pay that the team has successfully pursued in other pools nearby. A by-passed Frobisher light oil zone is mapped to exist below the Midale as a secondary target.
MANTARIO SUCCESS WELL A15-6-26-24W3
Blackbird has completed its first Mantario Success Well at A15-6-26-24W3 (the “A15-6 Well”). The A15-6 Well encountered approximately 20 metres of oil bearing sands in the Success formation. The well has been cased, perforated and was put into production November 8, 2013. The A15-6 Well will be produced for approximately 15 days prior to releasing results. Blackbird has a 70% working interest in the A15-6 Well.
Garth Braun, President and CEO of Blackbird stated, “The Blackbird team is very pleased with the initial analysis of our oil discovery on the Mantario Project. Our geological team has also identified two similar areas on existing Blackbird lands in our extensive southwest Saskatchewan holdings of over 35 sections. These two additional opportunities are favorable for further exploration through the acquisition of 2D seismic data to apply the seismic template from our recently evaluated Mantario Project. We look forward to continue to build our production and reserves via exploring and developing our lands via the drill-bit.”
GREATER KARR MONTNEY & DEEPER RIGHTS
Blackbird has increased its holdings of Montney Petroleum & Natural Gas Rights in the Greater Karr area of Alberta to 18 sections (11,520 acres). All of the acquired sections also include deeper rights including rights to the prospective Duvernay formation.
RELOCATION OF HEAD OFFICE
Blackbird will be relocating its corporate head office to Calgary in the first quarter of 2014 in order to consolidate the location of its management team.
Blackbird Energy Inc. is a Western Canadian based company that explores, develops and produces oil and natural gas in Western Canada and is managed by a proven technical team. The Company holds its assets either directly or indirectly through its wholly-owned subsidiary, Ruger Energy Inc. Blackbird trades on the TSX Venture Exchange under the symbol BBI.
Blackbird’s team is focused on originating new high quality oil projects through the assembly of land positions in southwest Saskatchewan and Alberta.
For more information please visit the company’s website and view the corporate presentation at www.blackbirdenergyinc.com.
On behalf of the board of
BLACKBIRD ENERGY INC.
Garth Braun, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements that involve various risks and uncertainties regarding future events relating to the proposed re-entry on the Company’s Bromhead Project, production results of the A15-6 Well and the potential of similar exploration opportunities elsewhere on the Company’s lands. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. Although Blackbird believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration and production, (3) a decreased demand for natural gas, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, accordingly, are subject to change after such date. Except as required by law, the Company assumes no obligation to update these forward-looking statements or to update the reasons why actual results differed from those projected in the forward-looking statements
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS NEWS RELEASE. NEITHER THE 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.
Blackbird Energy Inc.
President & CEO
(604) 688 2295