Blackdog Resources Ltd.

Blackdog Resources Ltd.

May 14, 2009 08:00 ET

Blackdog Resources Ltd. Announces Strategic Light Oil Asset Purchase

CALGARY, ALBERTA--(Marketwire - May 14, 2009) - Blackdog Resources Ltd. ("Blackdog" or the "Company) (TSX VENTURE:DOG) is pleased to announce that it has signed an Asset Sale Agreement ("ASA") with a public company ("Pubco") to purchase land holdings and prospective light oil wells and well bores comprised of 8,480 gross acres (3600 net acres) including 1200 undeveloped net acres for the purchase price of $150,000.00 subject to normal closing adjustments. The property is located at Woking, Alberta approximately 60 kilometres from Grande Prairie in Northern Alberta.

The property was producing approximately 40 barrels of light oil per day ("bopd") net to Pubco when the wells were shut-in during February, 2009 due to high operating expenses and low commodity prices. Pending a successful close of the transaction, Blackdog intends to take action to restart production.

The transaction is anticipated to close in June, 2009 retroactive to May 1, 2009.

Blackdog Resources Ltd. is a junior oil and gas company primarily focused on light oil with producing assets in Saskatchewan and Alberta. The Company currently has 16,732,447 Common Shares outstanding.

Forward Looking Statements - This press 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 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 this release.

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