Blackbird Energy Inc.: Announces Pending Pooling of Its Montney Lands and Private Placement

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company"), is
pleased to announce that negotiations are underway to pool the P&NG, Triassic
Montney formation rights held by certain adjacent interested parties in section
33-060-22W5 and the lands held by Blackbird and its partners in section
28-060-22W5, for the purposes of drilling up to four extended reach joint wells
on the pooled lands. The proposed initial Joint Well will be an extended reach
Montney formation horizontal well, drilled from a surface location in Lsd
14-28-060-22W5 to a bottom hole location in Lsd 14-33-060-22W5, and Blackbird's
participation in the Joint Well will be 12.5%. Additional information regarding
the Joint Well will be provided when the negotiations are completed and any
pooling agreement has been signed by all interest parties.  


Garth Braun, President of Blackbird, stated, "we are very pleased to be
proceeding with a potentially high impact extended reach well of 2,700 meters of
lateral length. The potential pooling of Section 28 with Section 33 ensures that
a more cost effective development of our lands will be achieved, as well as
accessing additional reserves within the formation. Further the additional wells
will optimize the utilization of our service facilities and pipeline currently
under construction with an expected completion of the end of March."  


The Company is also pleased to announce that it intends to carry out, subject to
approval from the TSX Venture Exchange (the "TSX-V"), a brokered private
placement, on a commercially reasonable "best efforts" agency basis, for gross
proceeds of up to $2,000,000 (the "Private Placement"). The Private Placement
will consist of 6,250,000 units of the Company (each, a "Unit), at a price of
$0.16 per Unit, and 6,250,000 flow-through units (each, a "Flow-Through Unit"),
at a price of $0.16 per Flow-Through Unit. Each Unit shall consist of one common
share in the capital of the Company (each a "Share") and one common share
purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to
purchase one common share in the capital of the Company (a "Warrant Share") at a
price of $0.24 per Warrant Share for a period of 24 months following the closing
date. Each Flow-Through Unit shall consist of one flow-through common share in
the capital of the Company (each a "Flow-Through Share") and one-half of one
Warrant. Each whole Warrant shall entitle the holder to purchase one Warrant
Share at a price of $0.24 per Warrant Share for a period of 24 months following
the closing date. All of the securities issued pursuant to the Private Placement
will be subject to a four-month hold period from the date of issue. The Private
Placement is being led by PI Financial Corp. ("PI" or the "Lead Agent"). 


The Company will grant the Lead Agent an option to solicit additional Units,
Flow-Through Units or any combination thereof to raise additional gross proceeds
of up to $500,000, exercisable 48 hours prior to closing. In addition, the
Company will conduct a non-brokered private placement of up to $500,000 in a
combination of Units and Flow-Through Units under the same terms as above. The
funds raised from the issuance of the FT Shares shall be used for general
exploration and/or development expenditures which will qualify as expenses under
paragraph 66(12.66)(b) of the Income Tax Act (Canada) on the Company's the
Bigstone Project located NW of Edmonton, Alberta in accordance with the
provisions of the Company's earn-in agreement with Donnybrook Energy Inc. Funds
raised from the issuance of Units will be for general working capital.


The net proceeds from the Private Placement will be applied to the Company's
project with Donnybrook Energy Inc. for the lease construction and drilling of
the next Montney well at Bigstone. The proceeds from the Flow-Through Share
offering will be used by Blackbird to incur eligible Canadian exploration
expenses. The well is estimated to spud prior to year end. Closing of this
offering is expected to occur on or about March 15, 2012.


If any insiders of the Company participate in the Private Placement, any such
subscription (the "Insider Participation") will be considered to be a related
party transaction within the meaning of Exchange Policy 5.9 and Multilateral
Instrument 61-101 ("MI 61-101"). Blackbird intends to rely on the exemptions
from the valuation and minority shareholder approval requirements of MI 61-101
contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of any
Insider Participation.


This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The securities have not
been and will not be registered under the United States Securities Act of 1933,
as amended (the "U.S. Securities Act") or any state securities laws and may not
be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.


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 will earn 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 successful completion of any
pooling arrangements in regards to adjacent lands, closing of the Private
Placement and the operator's ability to drill the next well on the project, the
timing of the drilling and any results from the well specifically or the Montney
Shale play in general and the timing of the construction and completion of
surface facilities for the tie in of production. 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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