Blackbird Energy Inc. ("Blackbird" or the "Company") is very pleased to be able to announce that it has established a Montney land position in the Greater Karr area of Alberta through the acquisition of 7,680 net acres of Montney Petroleum & Natural Gas Rights by its wholly-owned subsidiary, Ruger Energy Inc.
Garth Braun, President and CEO of Blackbird stated: "These land acquisitions further cement Blackbird's go-forward strategy of originating new oil projects. These Montney lands are going after the same resource that some significant industry players have begun to target such as Shell, EnCana, Kelt Exploration, Canadian International Oil Corp, and Sinopec Daylight Energy. Blackbird specifically focused on the activity currently in the area surrounding these lands by Kelt Exploration and Canadian International Oil Corp. which have drilled a total of 6 wells into what we feel is an analogous pool in the Upper Montney formation. We'd like to highlight that Canadian International Oil Corp. has tested 2 wells: CIOC 16-33 Hz which tested 570 bbl/d and 0.7 mmcf/d and CIOC 5-32 HZ which tested 290 bbl/d and 0.9 mmcf/d and Kelt's initial production from the 16-28 Hz was 534 bbl/d and 3 mmcf/d. The resource we are targeting is the same 38 API oil found in the above wells and furthermore significant infrastructure already exists in the area. We are extremely excited for what lies ahead for Blackbird as we continue to build on our foundation."
Blackbird would also like to announce that Joshua Mann has joined the Company in the capacity of Vice President Business Development. Mr. Mann brings a wealth of capital markets and business development experience through advising companies in the oil & gas, services, technology and agricultural industries. Mr. Mann was formerly an investment banker at Stifel Nicolaus Weisel where during his time with the firm was part of team that assisted corporate issuers in raising over $3 billion in capital.
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 southwest Saskatchewan and Alberta.
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