|By Marketwire .||
|September 5, 2012 08:00 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/06/12 -- Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird"), is pleased to provide the following Bigstone operations update.
DEI Bigstone Hz 13-33-60-22w5, (Blackbird 12.5% W.I. subject to a 2% GORR): the production tubing string has been installed in the well bringing the final phase of well completion operations to a close. The well is now ready for tie-in to the Donnybrook operated Bigstone pipeline system. Construction of the surface facilities and 1,300 metres pipeline installation is anticipated to commence in mid October with an estimated on-stream date of early November. Blackbird has fully funded its share of the AFE'd facilities and pipeline costs.
The well was flowed back for a period of 32 hrs and 15 minutes after the installation of the tubing string. The average flow rate during the final 24 hours of flow back was 2.87 Mmcf/day (BBI net - 0.36 Mmcf/d) and 510 bbls/day (BBI net - 64 bbls/day) of condensate and load fluid. Approximately 75% of the load fluid used during fracing operations has been recovered to date. The 13-33 well was drilled to a total measured depth of 5,336 metres with a lateral length of approximately 2,600 metres and completed with a 23 stage frac.
Blackbird's Bigstone Project is comprised of lands and licenses covering a total of 8 sections (1.75 net) or 5,120 acres (1,120 net acres) in Township 60, ranges 22 and 23W5 at Bigstone, Alberta. Pursuant to the terms of the farm in agreement with Donnybrook Energy Inc., Blackbird has the option to participate as to a 25 per cent interest in any future operations within an area of mutual interest.
On behalf of the board of BLACKBIRD ENERGY INC.
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 the construction of the surface facilities and pipeline installation and the timing of tie in of production. 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.