Blackdog Resources Ltd.

Blackdog Resources Ltd.

March 21, 2011 08:00 ET

Blackdog Resource Ltd. Commences Commercial Production on Horizontal Cardium Light Oil Well in Pembina

CALGARY, ALBERTA--(Marketwire - March 21, 2011) - Blackdog Resources Ltd. ("Blackdog" or "The Company") (TSX VENTURE:DOG) is pleased to announce that commercial production began on Sunday, March 13, 2011 on its non-operated horizontal Cardium light oil well in the Pembina area of Alberta. The Company has a 15% working interest in the well and in the full section of land the well was drilled on.

This well will be eligible for a 5% royalty, either on up to the first 60,000 barrels of production (net 9,000) or for 24 months.

The Company is very pleased with the faster than anticipated commencement of production, particularly given the sharp rise in oil prices over the last month, and looks forward to updating the market in due course when stabilized production rates are established.

The Company also announces it has granted stock options ("Options") to acquire an aggregate of 250,000 Common Shares at a price of $0.38 per share for a period of 5 years vesting immediately to its directors, subject to regulatory and TSXV approval. Following this grant, Blackdog has 2,291,625 Options representing 9.3% of its issued and outstanding common shares capital.

About Blackdog

Blackdog Resources Ltd is a junior oil and gas company focused on the production of light oil in South East Saskatchewan and Alberta. The Company has 24,574,318 Common Shares outstanding.

Certain information regarding Blackdog in this news release, including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with oil and gas exploration, development, production, marketing and transportation, loss of markets, volatility of commodity prices, imprecision of reserve estimates, environmental risks, competition from other producers, unexpected decline rates in wells, wells not performing as expected, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect Blackdog's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website ( The forward-looking statements or information contained in this news release are made as of the date hereof and Blackdog does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

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 the accuracy of this release.

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