Blackbird Energy Letter of Intent for Acquisition of Oil and Gas Division of United Arab Emirates Investment Fund Expires

Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Corporation"),
announces that the letter of intent entered into with Thani Emirates Petroleum
Cooperatif U.A. for the acquisition of its Oil and Gas division, as operated
through Thani Netherlands Holding B.V. (the "Acquisition") has expired and the
parties will not be proceeding to a definitive agreement. The Acquisition was to
consist of Blackbird acquiring Thani Netherlands Holding B.V. ("TNH") from Thani
Emirates Petroleum Cooperatief U.A. 


Garth Braun, Blackbird CEO, stated, "Blackbird has worked diligently towards the
definitive purchase agreement and arranging the required financing, however
certain key issues remained unresolved that could not be rectified prior to
expiration of the letter of intent. Specifically, we were not able to obtain
comfort on certain key issues, most importantly one raised late in the process
where the selling group had requested a provision in the agreement which would
potentially increase their interest on a post closing basis, based upon certain
conditions that we could not accept and that we felt would be unfairly dilutive
to current shareholders. This is of course very disappointing, but our directors
and officers will continue their tireless efforts to indentify additional
opportunities to enhance shareholder value."


About Blackbird

Blackbird's wholly-owned subsidiary Blackbird Energy LLC ("Blackbird Energy")
holds a 75% interest in 3,857 acres of leasehold land located in Gray County,
Texas known locally as the "Mathers-Gordon Prospect". The Mathers-Gordon
Prospect is a multi pay oil and gas prospect. Blackbird Energy is the operator
of the prospect. In addition, Blackbird plans to actively look for further oil
and gas properties for acquisition or potential joint ventures. 


On behalf of the board of BLACKBIRD ENERGY INC.

Garth Braun, Chief Executive Officer and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect
the expectations of management regarding the Company's identification of
additional opportunities for the Company. Forward-looking statements consist of
statements that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future. 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. 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, 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.

Blackbird Energy Inc. (TSXV:BBI)
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