BBI Blackbird Energy

Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is
pleased to announce that it has completed the following on its new oil
exploration project in the Mantario area of West Central Saskatchewan ("Mantario
Project"): Acquired more than 1,280 acres of petroleum and natural gas rights
targeting the Lower Mannville, completed and evaluated 2D and 3D seismic on the
lands, and entered into a Farm-out Agreement (the "Agreement") with Pennant
Energy Inc. ("Pennant"). 


Under the terms of the Agreement, Pennant may, subject to approval from the TSX
Venture Exchange (the "Exchange"), earn a 30% working interest in certain lands
and leases comprising the Mantario Project. To earn the 30% interest, Pennant
must pay to Blackbird 50% of the land acquisition costs incurred to date
including brokerage and transfer costs ($200,000 net estimated), and 50% of the
3D seismic program including geological and geophysical interpretation ($125,000
net estimated). Pennant will also be required to pay 50% of the drilling,
completing, equipping and tie-in costs of the test well to earn the working
interest.


Subject to receipt of Exchange approval, the Agreement provides that Blackbird
will serve notice of its intent to spud the test well on or before August 1,
2013. Upon receipt of such notice Pennant will advance 50% of the drill and case
cost estimate, being $221,907, to Blackbird.


Garth Braun, President and CEO of Blackbird stated, "Over the last year the
Blackbird team has focused on originating new projects. The Mantario Project
announcement is the culmination of an extensive due diligence process and the
assembling of a core land position. The team continues to focus on identifying
new opportunities that will deliver value to our shareholders. In the last year
several wells have been drilled in the Mantario area of West Central
Saskatchewan and the initial production rates have been in the range of 65 to
100 barrels of oil per day. Based on these metrics, Blackbird will be looking to
aggressively explore and develop this oil project."


The Agreement remains subject to Exchange approval. 

About Blackbird

The Flaxcombe Project is comprised of a total of 5,041 acres (net 2,393 acres)
in West Central Saskatchewan. Blackbird, through its only owned subsidiary Ruger
Energy Inc. ("Ruger"), holds a 100% working interest in a Sparky oil property
with five producing oil wells and two gas wells. The Flaxcombe Project includes
3D seismic coverage over the complete oil pool. Two development oil drilling
locations have been identified based on the 3D technical review. 


The Alsask Project is comprised of 1,120 acres in the Alsask area on the
Alberta/Saskatchewan border in which Ruger, holds a 100% working interest. The
Alsask Project has two producing Basal Mannville oil wells and one water
disposal well. Ruger also has 3D seismic coverage over the full 1,120 acres and
has identified one development oil drilling location and one exploration oil
drilling location. 


The Bigstone Project is comprised of lands and licenses covering a total of
5,120 acres (net 1,120 acres), in Township 60, ranges 22 and 23W5 at Bigstone,
Alberta. By completing the terms of a farm in agreement with Donnybrook Energy
Inc., Blackbird earned 25% of Donnybrook's interest in the Bigstone lands and in
any future operations within an area of mutual interest. 


Blackbird's team is focused on originating new high quality oil projects through
the assembly of land positions in southwest Saskatchewan and Alberta.  


Blackbird Energy Inc. is a Western Canadian based company that explores,
develops and produces oil and natural gas in Western Canada. The Company is
managed by a proven technical team. Blackbird trades on the TSX Venture under
the symbol BBI. 


On behalf of the board of 

BLACKBIRD ENERGY INC.

Garth Braun, Chief Executive Officer and Director

Disclaimer for Forward-Looking Information 

This press release contains forward-looking information that involves various
risks and uncertainties regarding future events related to the completion of the
Farmout Agreement, TSX Venture Exchange acceptance of such agreement and the
Company's proposed exploration plans and the productivity of any wells that may
be drilled in the Mantario area. 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. 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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
QIS Capital Corp.
Doren Quinton
President
(250) 377-1182
info@qiscapital.com
www.qiscapital.com

Blackbird Energy Inc. (TSXV:BBI)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024

Blackbird Energy Inc. (TSXV:BBI)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024