Blackbird Investments Inc.
TSX VENTURE : BBI

Blackbird Investments Inc.

January 27, 2010 09:30 ET

Blackbird Investments Inc. Provides Operational Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2010) - Blackbird Investments Inc. ("Blackbird" or the "Corporation") (TSX VENTURE:BBI), is pleased to announce the status of the re-entry and re-completion operations on two Mather's Prospect wells located in the Thorndike Field, Gray County, Texas.

The Mathers 2-74 and 2A-74 wells were re-entered, perforated and fracture stimulated in gas bearing zones not previously produced from the wells. After the fracture treatment the wells were flowed to clean out frac fluids and produced gas at measured rates of:

- Mathers #2-74R Well, perforated in the Missouri D formation: 600 MCFD through a 16/64" choke at an average flowing pressure of 400 psi, throughout the 12 hour flow period, conducted on January 8, 2010;

- Mathers #2A-74R Well, perforated in the Virgilian formation: 350 MCFD through a 16/64" choke at an average flowing pressure of 250 psi, throughout the 6 hour flow period, conducted on January 11, 2010.

The wells produced formation water at fluctuating rates during clean-up operations, which is not uncommon for similar completions in the area. Additional work-over operations are currently underway, subsequent to which production testing will be carried out to establish productive capability of the completed intervals. The Mathers property is a multi-zone prospect and holds the potential for multiple completions within a single wellbore and produced on a commingled basis. Information on test results will be provided as operations progress.

Garth Braun, Blackbird CEO, stated "We are extremely pleased with these results, and the confirmation and validation that this provides for our investment. We believe that this bodes extremely well for further development wells in the Granite Wash."

About Blackbird

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". Blackbird intends to aggressively develop this prospect and has committed to spend a minimum of $2,200,000 US developing the prospect in the next twelve months. The Mathers-Gordon Prospect is a multi pay oil and gas prospect. Blackbird Energy will be 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 INVESTMENTS INC.

William L. Macdonald, President and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's anticipated production from the two Mathers well. 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.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER 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.

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