Blackdog Resources Ltd.

Blackdog Resources Ltd.

November 05, 2007 08:00 ET

Blackdog Announces Commencement of Drilling in Gold Creek

CALGARY, ALBERTA--(Marketwire - Nov. 5, 2007) - Blackdog Resources Ltd. (TSX VENTURE:DOG) is pleased to announce that drilling has commenced on its Gold Creek farm in development well in the Peace River Arch area of Alberta approximately 30 km southwest of Grande Prairie.

Under the terms of the farm in agreement with a private oil and gas company, Blackdog will pay 25% of all costs to completion or abandonment to earn a 19% interest in the section of land the agreement covers.

President, David A. Corcoran, commented, "Blackdog has targeted the lucrative Peace River Arch area for a long time and has technically reviewed numerous drilling opportunities in Gold Creek and other locations. The well that we have chosen to participate in is a development well being drilled offset to a successful exploration well drilled by the same operator in Q4, 2006. That exploration well tested at rates of up to 700 boepd ("barrels of oil equivalent per day") and we expect a successful development well will test and flow at similar rates. Infrastructure in the area has recently been upgraded by the operator to allow for a quick tie in during Q1, 2008. The hydrocarbon mix of the exploration well includes natural gas, oil and liquids. A successful well will have an immediate material effect on Blackdog's cash flow, production rates and reserves."

Blackdog also announces that is has granted options to acquire 25,000 common shares at a price of $0.30 per share for a period of 5 years, vesting immediately, to Linda Legere-Tetzlaff, its Chief Financial Officer, subject to the approval of the TSX Venture Exchange.

Blackdog will be presenting at the SEPAC Conference today, November 5, 2007 in Calgary, Alberta at 1:25 p.m. at the Westin Hotel.

Boe may be misleading particularly if used in isolation. A boe conversion ratio of 6 thousand cubic feet of gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

Forward Looking Statements - This news release contains statements about future events that are forward looking in nature and, as a result, are subject to certain risks and uncertainties such as changes in plans or the occurrence of unexpected events. Actual results may differ from the estimates provided by management.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.

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