CALGARY, ALBERTA–(Marketwired – Sept. 25, 2014) – Blackbird Energy Inc. (TSX VENTURE:BBI) (“Blackbird” or the “Company“) is pleased to announce that it has executed a strategic infrastructure memorandum of understanding (“MOU”) with Mistral Energy Inc. to pursue the development of a gas gathering system and processing infrastructure in the Elmworth / Gold Creek area which will serve Blackbird and other producers.
The MOU contemplates the development of facilities to handle 20 mmscf/d of Blackbird’s associated gas, with a future expansion to handle up to 35 mmscf/d. The facilities planned total capacity will be 50 mmscf/d of sour gas, with provisions for handling another 70 mmscf/d of sweet gas, and additional potential expansions thereafter. Processing facilities will be staged with packaged and modularized units to reduce field installation time and cost, and to allow for expanded capacity to be quickly and efficiently matched to drilling activity and well results.
The MOU further contemplates the building of an 8 inch or larger pipeline and gathering system that will run from the Blackbird’s Elmworth lands south of the Wapiti River to existing infrastructure and ultimately the new Mistral sweet and sour gas facilities planned for Gold Creek/Kakwa.
Mistral Energy Inc. is comprised of the management team which recently developed the 700 km Vantage Pipeline project and a 50 mmscf/d cryogenic gas plant in Saskatchewan with a 70 km gas gathering trunk line.
Garth Braun, CEO of Blackbird noted, “Blackbird is at the beginning of an exciting period of growth and is pleased to continue to proactively address the challenges that are present in the Elmworth / Gold Creek corridor. The addressing of infrasture and egress will allow Blackbird to continue its strategy of aggregating additional land at a cost effective basis in its core area. Blackbird is also looking forward to building a strong relationship with Mistral Energy Inc.”
Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway.
For more information please visit the company’s website and view the corporate presentation at www.blackbirdenergyinc.com.
Garth Braun, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
This press release may contain forward-looking statements or information (collectively referred to herein as “forward-looking statements”). 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. Such statement include but are not limited to: the entry into a definitive agreement following the MOU, the construction of a gas gathering system and processing infrastructure in the Gold Creek area which will serve Blackbird and other producers, or the capacity and extent of the facilities when and if developed. 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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (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. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company’s course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS 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 PRESS RELEASE.
Blackbird Energy Inc.
President and CEO
email@example.comBlackbird Energy Inc.
Vice President, Business Development
Brisco Capital Partners Corp
Mistral Energy Inc.