Blackdog Resources Ltd. Announces Participation in Drilling of Leduc Reef Exploration Well at Sylvan Lake, Alberta
02 Settembre 2011 - 2:00PM
Marketwired Canada
Blackdog Resources Ltd. ("Blackdog" or the "Company") (TSX VENTURE:DOG) is
pleased to announce that the Company is participating in the drilling of an
approximate 3000 metre deep Leduc Reef Exploration well (the "Well") near Sylvan
Lake, Alberta. The target was defined using extensive 3D seismic analysis and
the Company believes the target is prospective for light oil.
Under the terms of a farm in agreement, Blackdog is paying 25% of all costs to
testing or abandonment to earn a 15% working interest ("W.I.") in the Well and
entire section of land the Well is situated on. The Company believes that a
successful well could lead to the drilling of two additional wells on the same
section of land.
Also under the terms of the farm in agreement, Blackdog received an option, at
the Company's discretion, to participate in the drilling of a second Leduc Reef
Exploration well in the Sylvan Lake area. Blackdog would pay 25% of all costs to
testing or abandonment to earn a 16.25% W.I. in this well and the land it is
situated on. Blackdog has a 72 hour window from the casing or abandonment of the
first exploration well to exercise this option.
The first well has been spud and the Company expects to announce results during
the month of September.
Blackdog Resources Ltd. is a junior oil and gas company focused on the
development and production of light and medium oil in South East Saskatchewan
and Alberta. The Company has 24,574,318 Common Shares Outstanding.
Certain information regarding Blackdog in this news release, including
management's assessment of future plans and operations, may constitute forward
looking statements under applicable securities laws and necessarily involve
risks including, without limitation, 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.
Grafico Azioni (TSXV:DOG)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni (TSXV:DOG)
Storico
Da Dic 2023 a Dic 2024
Notizie in Tempo Reale relative a (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Blackdog Resources Ltd. Articoli Notizie