Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company"), is
pleased to announce that the operator, Donnybrook Energy Inc. (Donnybrook) of
Calgary, has issued a Notice of Operations to drill a second Montney horizontal
well at Bigstone. 


The well, DEI et al Bigstone Hz 15-32-60-22W5, will be drilled from the surface
location 3-29-60-22W5 to a total measured depth of 5,150 meters and include a
2,400 m lateral (horizontal) leg, which is approximately 1,200 m longer than the
lateral in our first successfully completed and tested Bigstone well, DEI et al
Bigstone HZ 14-29-60-22W5. The Donnybrook operated DEI Bigstone Hz 15-32-60-22
W5M well (25% working interest) will be drilled from the same drilling pad as
the Company's Bigstone Hz 14-29 discovery well (37.5% BPO/25% APO working
interest), which tested in the last 24 hours of a 4 day production test at a
rate of approximately 4.3 million cubic feet per day (mmcf/day) of natural gas
and 295 barrels per day (bbls/day) of condensate from a 1,254 metre horizontal
section; 1,011 barrels of oil equivalent per day (boe/day). The DEI Bigstone Hz
15-32 well has a planned 2,500 metre +/- horizontal section. Donnybrook has
contracted a drilling rig and anticipates drilling to commence by the first week
of December, drilled to total depth and be ready for facture stimulation
approximately 4 weeks later. 


A third Donnybrook operated Bigstone Montney horizontal well (25% working
interest net to Blackbird) is planned to be spud in Q1 of 2012. There are
several potential locations for the third well and discussions are ongoing with
partners to determine which location will be selected. The Company has 7 gross
sections (1.75 net sections) at Bigstone, which would support an equivalent of
14-28 gross (3.5-7 net) horizontal wells depending upon the lateral length of
each horizontal leg.


As noted in the Blackbird press release dated October 19, 2011, Blackbird's
first well in the field, DEI et al Bigstone Hz 14-29-60-22w5 confirmed the
Montney formation at Bigstone is at least comparable or possibly better in
reservoir quality to the Montney encountered by wells drilled at Fir 4 miles to
the south. Accordingly, longer 2,000-2,600m lateral sections at Bigstone may
yield a similar increase in test rates, anticipated to be 3 to 4 times higher
than those achieved by the DEI et al 14-29 well. 


Blackbird earned a 25% interest in a total of 7 sections of Donnybrook's lands
at Bigstone and in any future operations within an Area of Mutual Interest (AMI)
by completing the terms of the Bigstone Area Farmout Agreement of March 3, 2011.


Garth Braun, Blackbird CEO, stated, "The Bigstone area's recent successes in
drilling, and the continued development of the infrastructure continues to
exceed our expectations. Recent announcements regarding infrastructure expansion
to accommodate increasing production from the Montney, drilling announcements
and current drilling activity, as well as the recent land sales to the south of
our lands further emphasize the significant potential of the Montney resource in
the Bigstone/Fir Montney area. Blackbird's 25% W.I. in 1792 ha of contiguous
lands at Bigstone represents a potential drilling inventory of 13-27 development
locations depending on the length of the horizontal leg of each well. We are
looking forward to continued success as we develop this exciting project with
our partners."


About Blackbird 

Blackbird's Bigstone Project is comprised of lands and licences covering a total
of 4,480 acres, in Township 60, ranges 22 and 23W5 at Bigstone, Alberta. By
completing the terms of the farm in agreement, Blackbird has earned 25 per cent
of Donnybrook Energy Inc.'s interest in the Bigstone lands and in any future
operations within an area of mutual interest. 


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 drilling or capacity of the second
Bigstone well and the development potential of the Bigstone/Fir Montney area
generally. 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. 


Oil Equivalency Conversion (BOE) 

Where amounts are expressed on a barrel of oil equivalent ("BOE") basis, natural
gas volumes have been converted to BOE at a ratio of 6,000 cubic feet of natural
gas to one barrel of oil equivalent (6 Mcf = 1 BOE). The conversion ratio is
based upon an energy equivalent conversion method, primarily applicable at the
burner tip and does not represent value equivalence at the wellhead. BOE values
may be misleading, particularly if used in isolation.


Blackbird Energy Inc. (TSXV:BBI)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024 Blackbird Energy Inc. 차트를 더 보려면 여기를 클릭.
Blackbird Energy Inc. (TSXV:BBI)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024 Blackbird Energy Inc. 차트를 더 보려면 여기를 클릭.