FOX ISLAND, Wash., Nov. 29, 2010 /PRNewswire-FirstCall/ -- Black
Hawk Exploration (OTC Bulletin Board: BHWX) is pleased to announce
the purchase of oil and gas leases covering approximately 2,553
acres of land in Cowley County,
Kansas. BHWX owns 100% of the leases within the Prospect
Area and has an undivided 81.5% working interest in and to the oil
and gas leases and their previous 10 shut-in oil and gas wells.
The lease acquisition includes a 100% interest in one shut-in
oil/gas well, the #1 Baker, located on the Keith Baker lease. Also
acquired is a 100% interest in 9 other oil wells previously shut-
in. Black Hawk's Oil 2011 Program calls for re-working all 10
locations directly or in joint venture with Tiger Oil and Energy,
Inc. (OTC Bulletin Board: TGRO) and returning all of them to cash
flow production. "We hope to start re-work on the #1 Baker, Oil and
Gas Well in December, 2010 and have it in production January 2011. We also hope to have some exciting
news on our future lithium plans and definitive assay results from
the November Dun Glen gold and silver drilling, with-in the next 2
to 3 weeks," stated Kevin M Murphy, CEO of Black Hawk
Exploration.
On October 27th, 2010 Black Hawk
entered into a co-development agreement with TGRO in which, after
an investment of $400,000 by TGRO in
a new well in Black Hawk's Cowley
County lease, TGRO will earn a 40% working interest in the #
1 Baker well, BHWX will receive a 50% interest in the new well
and TGRO will have the right to participate in the 9 well
rework program at the Cowley Prospect. BHWX will receive a
20% interest in any other new well TGRO drills on Black Hawk's
current or future Cowley County,
Kansas leases and has the option to invest in each
additional new well drilled by TGRO on a prorated basis up to an
additional 30%.
In addition to the acquisition, Black Hawk Exploration entered
into an agreement with TIGER OIL & GAS LLC, a Kansas limited liability company ( "Tiger
LLC"). In the agreement BHWX purchased oil and gas leases within
Cowley County (the "Prospect
Area") and Tiger LLC agreed to operate and participate in the
development and exploration of additional oil and gas leases on
behalf of BHWX.
About Black Hawk Exploration
Black Hawk is a diversified metals and energy exploration
company and currently has expanded its current exploration program
focus on lithium, gold and silver discovery with the addition of
oil and gas leases in Kansas.
Continuing its aggressive program of value added property
acquisition, project generation, asset diversity and building
shareholder value, Black Hawk will continue to develop its
Clayton Valley lithium and Dun Glen
gold and silver holdings and add a third focus with the acquisition
of our Cowley County, Kansas oil
and gas leases and the 10 in-active oil and gas wells that we plan
on putting back into production.
Visit www.BlackHawkExploration.com and review all our current
Press Releases and our CEO BLOG.
All investors and current shareholders interested in receiving
information on Black Hawk Exploration are encouraged to call our
Investor Relations Firm, Equiti-trend, toll-free at (800) 953-3350
to speak with an Investor Communication Representative:
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that
term is defined in Section 27A of the United States Securities Act
of 1933 and Section 21E of the Securities exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such forward-looking statements include, among other things, the
Oil 2011 Program, Joint Venture and rework program.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration. These forward-looking statements are made as
of the date of this news release, and we assume no obligation to
update the forward-looking statements, or to update the reasons why
actual results could differ from those projected in the
forward-looking statements. Although we believe that the beliefs,
plans, expectations and intentions contained in this press release
are reasonable, there can be no assurance that such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and should
also refer to the risk factors disclosure outlined in our annual
report on Form 10-K for the most recent fiscal year, our quarterly
reports on Form 10-Q and other periodic reports filed from
time-to-time with the Securities and Exchange Commission.
SOURCE Black Hawk Exploration