HOUSTON, July 28, 2011 (GLOBE NEWSWIRE) -- Blacksands Petroleum, Inc. (OTCBB:BSPE) ("Blacksands") has drilled the BVR 6 Well No. 1 to a total depth of 7,949'. This is Blacksands' first operated well in the Permian Basin in Borden County Texas. Blacksands is evaluating the Lower Spraberry (Jomill and Dean sands) and Lower and Upper Wolfcamp, and anticipates perforating and fracture stimulating and producing all of the formations. Blacksands has an interest in approximately 9,000+ acres (5,000 net mineral acres) in the Apclark field. Blacksands plans to evaluate formations below the established Jo Mill Field pays, including the Wolfcamp, Strawn and Upper Mississippian formations, with future drilling.
In addition, Blacksands has filed application to be listed on NASDAQ Capital Markets.
About Blacksands Petroleum:
Blacksands Petroleum, Inc. is engaged in the acquisition, exploration, and development of conventional and unconventional oil and gas fields in N. America. Blacksands owns approximately (i) 9,000 gross (5,000 net) acres in the Midland Basin, Texas and (ii) 147,262 gross (73,631 net) acres in the Pedregosa Basin, New Mexico. Blacksands operates three producing properties in Texas.
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Safe Harbor Statement. This news release includes statements about expected future events and/or results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements in this release include, but are not limited to the Company's planned drilling and evaluation program, operating costs and expectations of undiscovered resources. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include the possibility that additional investments will not be made or that appropriate opportunities for development will not be available or will not be properly developed. For additional risk factors about our Company, readers should refer to risk disclosure contained in our reports filed with the Securities and Exchange Commission.