VANCOUVER, British Columbia, Sept. 28, 2011 (GLOBE NEWSWIRE) -- Blackbird Energy Inc. (TSX-V:BBI) ("Blackbird" or the "Company") is pleased to announce that Donnybrook Energy Inc. (TSX-V:DEI) has informed the Company that drilling operations on the Bigstone test well (the "Test Well") were completed on September 19, 2011 and that the drilling rig has been released. The Test Well was drilled vertically to the Montney formation from surface location 00/03-29-060-22W5/00 and then horizontal to a total measured depth of 3,818 meters, terminating at the projected bottom hole location 00/14-29-060-22W5/00. A twelve stage frac completion string has been set in place along the 1254 meter well lateral (horizontal portion) leg in preparation for frac operations. The Test Well was drilled within the timeframe and cost estimate of the operators AFE forecast budget. Donnybrook has informed Blackbird that it has secured a contract for a completion rig and frac crew for the middle of October.
Industry activity in the Bigstone/ Fir area of Alberta continues to get excellent test results from the Montney formation. The most recent completion and production results from a 2600m lateral with a 24 stage frac tested at 15mmcf/d and 40-60 bbls/mmcf of natural gas liquids. The well is located 5 miles south of Blackbird's Bigstone property and was targeting the same interval in the Montney formation. Three more wells are currently proposed in the Fir area by industry participants prior to year end. This brings the total number of horizontal wells drilled or licensed to be drilled into the Montney Formation at Bigstone and Fir to 9 this year.
Information regarding completion and testing of the Bigstone well will be provided as it is made available by the operator.
About Blackbird
Blackbird's Bigstone Project is comprised of lands and licences covering a total of 4,480 acres, in Township 60, ranges 22 and 23W5 at Bigstone, Alberta. By completing the terms of the farm in agreement, Blackbird will earn 25 per cent of Donnybrook Energy Inc.'s interest in the Bigstone lands and in any future operations within an area of mutual interest.
Blackbird's wholly-owned subsidiary Blackbird Energy LLC ("Blackbird Energy") holds a 75% interest in 3,857 acres of leasehold land located in Gray County, Texas known locally as the "Mathers-Gordon Prospect". The Mathers-Gordon Prospect is a multi pay oil and gas prospect. Blackbird Energy is the operator of the prospect. In addition, Blackbird plans to actively look for further oil and gas properties for acquisition or potential joint ventures.
On behalf of the board of
BLACKBIRD ENERGY INC.
Per: "Garth Braun"
Garth Braun
Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding proposed hydraulic fracturing operations including the timing and any results therefrom as well as the Montney Shale play in general. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. 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. 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, 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.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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 accuracy of this release