Blackbird Energy Announces Drilling Of Second Montney Horizontal at Bigstone
18 11월 2011 - 11:00PM
Marketwired
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.
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 release.
Contacts: QIS Capital Corp. Doren Quinton President (250)
377-1182info@qiscapital.comwww.qiscapital.com
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