|By Marketwired .||
|May 21, 2014 06:43 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 05/21/14 -- Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE: BBI) is very pleased to announce the appointment of William C. Macdonald to its board of directors.
Mr. Macdonald has over thirty years of petroleum land management experience in Western Canada. He is currently the President of Bilmac Resources, an oil and gas consulting firm that provides land management support to various clients, and specializes in the capitalization of private oil and gas start-up companies. Most recently Mr. Macdonald served on the board of Alexander Energy Ltd. and chaired the special committee that sourced and finalized a recapitalization arrangement with the team of Spartan Energy, delivering to Alexander shareholders an approximate six times lift. In 1997, Mr. Macdonald co-founded Avalanche Energy Limited, a private oil and gas company, which was sold in late 2000 for approximately 10 times its initial share price. Mr. Macdonald was also previously Land Manager at Hardy Oil and Gas Limited, a private subsidiary of Hardy PLC (1990-95) and a senior negotiator at Amerada Hess Corporation. He became a member of the Canadian Association of Petroleum Landmen in 1980, attained his P. Land designation in April 1989, and remains an active member of the Association.
Garth Braun, President and CEO stated: "Blackbird is at a critical stage with respect to the further development of its properties, and in particular, the Elmworth Montney Property. We are very pleased to make this very significant addition to the Blackbird team and look forward to Mr. Macdonald assisting Blackbird in achieving its development objectives and building shareholder value through the de-risking of the Montney resource."
In connection with the appointment, Blackbird has granted 750,000 incentive stock options to Mr. Macdonald. Such options are exercisable at the price of $0.27 for a period of five years until May 21, 2019.
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.
For more information please visit the company's website and view the corporate presentation at www.blackbirdenergyinc.com.
On behalf of the board of BLACKBIRD ENERGY INC.
Garth Braun, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements") relating to the Company's development plans for one or more of its properties are deemed to be forward-looking statements. 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 and are not guarantees of future performance of the Company. 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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration and production, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (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. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this Press Release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
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