Blackdog Resources Ltd.
TSX VENTURE : DOG

Blackdog Resources Ltd.

October 17, 2007 08:00 ET

Blackdog Resources Ltd. Announces Production Increases

CALGARY, ALBERTA--(Marketwire - Oct. 17, 2007) - Blackdog Resources Ltd. (TSX VENTURE:DOG) is pleased to announce it has commenced production from both of its Pembina, Alberta natural gas and liquid-rich wells. Blackdog earned a 15% working interest in both the Pembina Crystal 2-6 well and the Pembina Breton 3-29 well by participating in the drilling and completing of the wells in Q4, 2006.

Although production from these two new wells has not yet stabilized, the additional daily production brings Blackdog's total production to the range of 80-100 BOEPD ("Barrels of Oil Equivalent Per Day") and Blackdog is anticipating cash flow(net of operating costs and royalties) to the corporation to range between $80,000- $100,000 per month on a go forward basis.

David A. Corcoran, President of Blackdog commented, "With our production mix of light oil from Saskatchewan receiving record oil prices and our three Alberta wells producing both natural gas and valuable liquid condensates, we are now generating strong monthly cash flows even with the current low natural gas prices. We expect our cash flows to increase as our latest two wells stabilize at strong levels and cold weather arrives and increases the demand and price for natural gas. We strive to maintain low overhead so that the maximum amount of our cash flow possible can be reinvested in new exploration opportunities. We are assembling an inventory of drilling prospects for the next six months and beyond and look forward to finalizing these plans and announcing the details very soon."

Blackdog has a cash position of in excess of $725,000, zero debt and less then 13,900,000 shares issued.

Forward Looking Statement - This press release contains statement 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.

BOE may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 MCF: 1 BBL is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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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