BLR Blackhawk Resource Corp

Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE:BLR) is
pleased to announce that it has successfully drilled and cased both wells on its
Bodo property in the Provost area of Alberta. The Sparky horizontal well will be
completed with the multi-stage fracturing technology that has been successfully
deployed in formations such as the Viking and Cardium of Central Alberta. This
technology has resulted in significant increases in production from known
productive oil reservoirs.


BLR Bodo #2 - Sparky Horizontal Well

The BLR Bodo #2 horizontal well commenced drilling March 23, 2010 and achieved a
horizontal length of 689 metres in the Sparky Formation. The horizontal section
was increased from a planned length of 600 metres due to continued reservoir
presence at the toe of the well. The well encountered reservoir rock with
abundant hydrocarbon shows throughout the majority of the horizontal section.
Reservoir rock was encountered starting at the heel of the horizontal leg, which
supports the 3D seismic interpretation of the pool. Blackhawk has three
additional 3D seismic defined horizontal Sparky locations in the same pool on
company owned land that will be drilled following successful completion of this
well. 


Completion operations are expected to commence in the week of April 5, 2010. Ten
staged fracture stimulations along the length of the horizontal section are
planned. With the completion of the multi-stage fracture stimulation the
Corporation will begin operations to bring the well on production as soon as is
possible. 


BLR Bodo #1 - Colony Vertical Well

BLR Bodo #1 was drilled to a total depth of 724 metres and encountered
hydrocarbon pay in the Colony Formation. After perforating, the Colony zone
flowed gas at a maximum rate of 1.6 mmcf/d with an average choked rate of 750
mcf/d over the testing period. Analysis of the logs indicate oil pay in addition
to gas pay in the zone. Oil production is expected once gas pressure is
sufficiently drawn down. Work has commenced on the tie-in of the well for
production.


With the success of the BLR Bodo #1 Colony vertical well, the Corporation has
identified additional follow up drill locations. Once the tie in of this well is
complete the follow up drilling program will begin. 


Statements in this press release may contain forward-looking information
including expectations of future operations, commerciality of any gas
discovered, operating costs, commodity prices, administrative costs, commodity
price risk management activity, acquisitions and dispositions, capital spending,
access to credit facilities, income and oil taxes, regulatory changes, and other
components of cash flow and earnings. The reader is cautioned that assumptions
used in the preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the company. These risks
include, but are not limited to, the risks associated with the oil and gas
industry, commodity prices and exchange rate changes. Industry related risks
could include, but are not limited to, operational risks in exploration,
development and production, delays or changes in plans, risks associated to the
uncertainty of reserve estimates, or reservoir performance, health and safety
risks and the uncertainty of estimates and projections of production, costs and
expenses. The reader is cautioned not to place undue reliance on this
forward-looking information.

Blackhawk Resource Corp. (TSXV:BLR)
Historical Stock Chart
From Jun 2024 to Jul 2024

Blackhawk Resource Corp. (TSXV:BLR)
Historical Stock Chart
From Jul 2023 to Jul 2024