Blackdog Resources Ltd.
TSX VENTURE : DOG

Blackdog Resources Ltd.

November 19, 2007 08:44 ET

Blackdog Announces Result at Gold Creek

CALGARY, ALBERTA--(Marketwire - Nov. 19, 2007) - Blackdog Resources Ltd. (TSX VENTURE:DOG) announces that after reaching total depth on its Peace River Arch Gold Creek well, the well was determined to be uneconomic and abandoned. Blackdog has a 19% interest in the well.

President David A. Corcoran commented, "The abandonment of the Gold Creek well is disappointing to Blackdog but this certainly does not deter us from continuing to seek out and participate in wells in the Peace River Arch in the future. We are currently reviewing other opportunities, and we expect to participate in additional wells, in the Arch either later this year or in 2008."

Blackdog further announces that it anticipates the commencement of drilling of its next farm-in exploration well in Crystal/Pembina within 10 days. Under the terms of the farm-in agreement, Blackdog is paying 20% of all costs to completion or abandonment to earn a 12% interest in two sections of land. The well is very close to the successful Crystal 2-6 well that was drilled in Q4, 2006 and has recently come onto production. A successful exploration well could lead to a second well being drilled in Q1 or Q2, 2008 on the earned land.

Blackdog has production of between 80 and 100 boepd ("barrels of oil equivalent per day"), positive cash flow from operations of between $80,000 to $100,000 per month, working capital of approximately $325,000, 13.9 million shares outstanding and zero debt.

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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