Blackbird Energy Announces Plans to Spud First Horizontal Well at Its Mantario Oil Project

Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is
pleased to announce that it plans to spud its first horizontal well at its
Mantario Oil Project in the second quarter of 2014, subject to weather and rig
availability. The well will be spudded from a surface location at 16-1-26-25W3
with a horizontal lateral length of 800 meters. The trajectory of the horizontal
well has been established using Blackbird's proprietary high resolution 3D
seismic and the Company's existing well control. Blackbird holds a 70% operated
working interest in the project. 


This planned horizontal well is the follow-up to the successful A15-6-26-24W3
("A15-6") discovery well that encountered a 20 meter pay section and is still
producing in excess of 20 bbls/d with minimal water. 


Blackbird is close to completing a detailed exploitation study of the Mantario
Oil Project which would encompass approximately 15 Hz locations with 80 acre
spacing. Downspacing to 40 acres would allow for an additional 15 Hz locations.
In addition to downspacing, the Company is evaluating secondary recovery methods
to improve the overall recovery factors for the pool. 


The cost of the horizontal well at the Mantario Oil Project is expected to be
less than $1,000,000 including drilling, completion, equipping and installing
surface facilities, and would qualify for the exceptional 2.5% royalty incentive
currently received in Saskatchewan for drilling a horizontal well. 


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 Exchange
under the symbol BBI. 


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


For more information please visit the company's website and view the corporate
presentation at www.blackbirdenergyinc.com 


On behalf of the board of 

BLACKBIRD ENERGY INC. 

Garth Braun, Chief Executive Officer and Director 

Disclaimer for Forward-Looking Information  

This news release contains forward-looking statements that involve various risks
and uncertainties regarding future events relating to the proposed spudding of
the first horizontal well at the Company's Mantario Project including, but not
limited to, the projected cost thereof and eligibility for any royalty
incentive. 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. Although Blackbird believes that the expectations and assumptions on
which the forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking 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,
accordingly, are subject to change after such date. 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: 
Brisco Capital Partners Corp.
Katrin Tosine
Director of Investor Relations
(647) 388 4984
kat@briscocapital.com


Blackbird Energy Inc.
Garth Braun
President & CEO
(604) 688 2295
gbraun@blackbirdenergyinc.com
www.blackbirdenergyinc.com
Blackbird Energy Inc. (TSXV:BBI)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024