Blackdog Resources Ltd. Announces Successful Casing of Horizontal Cardium Light Oil at Buck Lake, Alberta
December 09 2011 - 6:00AM
Marketwired Canada
Blackdog Resources Ltd. (TSX VENTURE:DOG) ("Blackdog" or "the Company") is
pleased to announce that it has successfully cased its horizontal cardium light
oil well at Buck Lake, Alberta (the "Buck Lake Well"). The decision to case the
Buck Lake Well was made after a review by the Company of the logs and samples.
Blackdog has a 15% working interest ("W.I.") in the Buck Lake Well subject to a
12% non convertible gross overriding royalty on the well and the entire
three-quarter section of land the Buck Lake Well is situated on. Management of
the Company believes that a successful well could to lead to additional drilling
locations.
The operator of the Buck Lake Well is currently in the process of installing a
tank battery with oil that will be used for the fracture stimulation program
that is scheduled to commence in the next 7-10 days, subject to availability of
oil field services in the area. Should the testing of the well prove commercial,
the tie-in process for a pipeline is only 400 metres from the drilling location,
and management of Blackdog expects to have the well online and producing before
the end of 2011.
Blackdog Resources Ltd. is a junior oil and gas company focused on the
exploration and development of light oil properties in South East Saskatchewan
and Alberta. The Company currently has 26,786,249 common shares outstanding.
Certain information regarding Blackdog in this news release, including
management's assessment of the expected timing for the tie-in of the Buck Lake
Well, and Blackdog's 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.
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