VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 17, 2014) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to provide an update on its ongoing operations.
Blackbird has increased its holdings of Montney Petroleum & Natural Gas Rights in the Greater Karr project to 21 sections (13,440 acres). All of the acquired sections also include deeper rights including rights to the prospective Duvernay formation. The Greater Karr project contains strong analogs to wells that have been drilled in the area to date. Blackbird has begun the process of seeking a partner to assist in developing the Greater Karr project.
At its Bromhead project, Blackbird has completed its first re-entry candidate. The recompletion was completed under budget, with a cost of approximately $200,000. After evaluation, Blackbird encountered a non-commercial amount of hydrocarbons in the one zone perforated to date (Midale Vuggy). Blackbird has begun to evaluate further zones, such as the Bakken and Three Forks, for possible further pursuit. The Bakken and Three Forks zones appear in lands that are in close proximity to the Bromhead project.
Blackbird Energy Inc. is a Western Canadian based company that explores, develops and produces oil and natural gas in Western Canada. The Company is managed by a proven technical team. Blackbird trades on the TSX Venture Exchange under the symbol BBI.
Blackbird's team is focused on originating new high quality oil projects through the assembly of land positions in Saskatchewan and Alberta.
For more information please visit the company's website and view the corporate presentation at www.blackbirdenergyinc.com
On behalf of the board of BLACKBIRD ENERGY INC.
Garth Braun, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements that involve various risks and uncertainties regarding future events relating to the Great Karr project and the Bromhead project. 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 and are not guarantees of future performance of the Company. Although Blackbird believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking 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, accordingly, are subject to change after such date. 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
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