January 25, 2012
Blackdog Resources Ltd. Announces Completion of Buck Lake Cardium Horizontal Light Oil Well
Blackdog Resources Ltd. ("Blackdog" or "the Company")
(TSXV:DOG) is pleased to announce the successful completion
of the fracture stimulation ("frac") process and flow testing
of its cardium horizontal light oil well (the
"Well") in the Buck Lake area of Alberta. The
Company has a 15% working interest in the Well and in the 480
acres area of land the Well is situated on, subject to a 12%
non- convertible gross overriding royalty interest.
During the 72 hour flow testing and flare period allowed by
the regulatory authorities, the operator of the Well
recovered substantially most of the frac oil used to
stimulate the well. The Well is currently shut in for its
mandatory two week pressure build-up test period. The
operator of the Well is in the process of installing a
pipeline to tie-in the Well and is equipping the site with a
tank battery, pump jack and separator. Management of the
Company expects the Well to be on production in early
February,
2012 and intends to report light oil, natural gas and natural
gas liquids production rates after the
remaining frac oil is recovered.
The Company and its partners have also identified potential
additional drilling locations on the land and, pending
results from this first well, will determine the timing for
additional wells to be drilled.
About Blackdog
Blackdog Resources Ltd. is a junior oil and gas company
focused on the production of light oil in SE Saskatchewan and
Alberta. The Company currently has 27,166,212 common shares
outstanding.
FOR FURTHER INFORMATION CONTACT: Blackdog Resources Ltd.
David A. Corcoran
President
(403) 245-1726 davidcor@telus.net www.blackdogresources.com
Certain information regarding Blackdog in this news release,
including management's assessment of the expected timing
for the production at the Well, and Blackdog's future
plans and operations, may constitute forward looking
statements under applicable securities laws and necessarily
involve risks including, without limitation, risks associated
with pipeline construction and tie-in operations, general
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 (www.sedar.com). 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.
distribué par | Ce noodl a été diffusé par Blackdog Resources Ltd. et initialement mise en ligne sur le site http://www.blackdogresources.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-25 17:40:10 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
January 25, 2012 Blackdog Resources Ltd. Announces Completion of Buck Lake Cardium Horizontal Light Oil Well Read more... |