Blackdog Resources Ltd. Updates Production from Leduc D3 Light Oil Well
November 16 2011 - 6:00AM
Marketwired Canada
Blackdog Resources Ltd. ("Blackdog" or "The Company") (TSX VENTURE:DOG) is
pleased to announce production results from the first 6 days of its Leduc D3
light oil well ("the Leduc well") near Sylvan Lake, Alberta. During the period
from November 7- 12, 2011 the Leduc well free flowed without the aid of any
artificial lift a gross average of approximately 330 barrels of oil equivalent
per day ("boepd"). This total was comprised of approximately 67 barrels of light
oil ("bopd"), 1000 mcf of natural gas and 100 barrels of natural gas liquids.
The Company has a 15% Working Interest ("W.I.") in the Leduc well and entire
section of land the Leduc well is situated on. The net production to Blackdog
during this period was approximately 50 boepd.
The Company intends to provide additional production updates on the well over
time and also anticipates at some stage that an artificial lift process will be
put in place to further aid in delivering solid long term production numbers
from this well.
Blackdog Resources Ltd is a junior oil and gas company focused on the
exploration and development of light oil properties in Southeast Saskatchewan
and Alberta. The Company currently has 24,578,316 Common Shares Outstanding.
Certain information regarding Blackdog in this news release, including
management's assessment of the expected timing for the stabilization of
production rates and 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.
The term "barrels of oil equivalent" or "boe" may be misleading, particularly if
used in isolation. A "boe" conversion ratio of 6 Mcf: 1 bbl is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead.
(TSXV:DOG)
Historical Stock Chart
From Nov 2024 to Dec 2024
(TSXV:DOG)
Historical Stock Chart
From Dec 2023 to Dec 2024
Real-Time news about (TSX Venture Exchange): 0 recent articles
More Blackdog Resources Ltd. News Articles