Blackhawk Resource Corp.
TSX VENTURE : BLR

Blackhawk Resource Corp.

April 15, 2010 09:18 ET

Blackhawk Resource Corp. Successfully Tests Sparky Horizontal Well

CALGARY, ALBERTA--(Marketwire - April 15, 2010) - Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE:BLR) is pleased to announce that it has successfully completed the 100 % owned BLR Bodo #2 horizontal well in the Provost area of Alberta. This Sparky Formation horizontal well flowed at an average rate of 150 barrels of oil per day over a two day test period with minimal fluid level drawdown in the wellbore. Oil cuts of up to 90% were observed during the testing.

The Corporation released the drilling rig on April 1, 2010 after achieving a horizontal length of 689 metres in the Sparky Formation in the BLR Bodo #2 horizontal well. Completion operations commenced on April 9, 2010 and ten fracture stimulations were performed along the horizontal length of the well. 

The well is currently being equipped for production and is expected to be on-stream by the end of April 2010. The downhole pump being installed will be capable of producing at higher gross fluid rates than could be achieved during testing with swabbing equipment.

Using 3D seismic data, Blackhawk has identified three additional horizontal Sparky locations on Corporation owned land that will be drilled to further develop the pool. The Corporation expects the drilling of these follow up locations will begin in the second quarter.

Trading in the securities of the Corporation should be considered highly speculative.

Statements in this press release may contain forward-looking information including expectations of future operations, commerciality of any gas discovered, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income and oil taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the oil and gas industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, or reservoir performance, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.

Neither the 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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