CALGARY, ALBERTA--(Marketwired - April 9, 2015) - (TSX VENTURE:BBI) Blackbird Energy Inc. ("Blackbird") is pleased to announce that it has acquired a 100% working interest in twelve additional sections (7,680 net acres) of Elmworth Montney rights (the "Acquisition"). The Acquisition represents a 17% increase in the Company's Elmworth Montney land position. With the completion of the Acquisition, Blackbird now holds a 100% working interest in 81 sections (51,840 net acres) at the Company's core Elmworth Montney project.
Mr. Braun, Chairman, CEO and President noted, "With these latest land acquisitions coupled with our first two Montney wells which validate the liquids-rich nature of our project, Blackbird has now assembled a significant prospective resource to attract multiple midstream investment options to facilitate takeaway at Elmworth. We look forward to updating the market on progress made towards the tie-in of our first two wells and definitive take-away for our gas as we move towards additional drilling and delineation on our acreage."
Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway at Elmworth, Alberta.
For more information please view our Corporate Presentation at www.blackbirdenergyinc.com.
Disclaimer for Forward-Looking Information
This press release contains forward-looking statements or information (collectively referred to herein as "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 Blackbird. Such statements include, but are not limited to: the ability of the Company to attract further investment options as a result of the additional land acquisitions; the tie in of the Company's 06-26 and 05-26 wells and any eventual takeaway and any additional drilling or the timing thereof. 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 Blackbird 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 Blackbird's 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, development and production including drilling risks, (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 Blackbird's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that Blackbird does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond Blackbird's control. Should one or more of these risks or uncertainties materialize, or should any of Blackbird'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. The foregoing risks and other risks are described in more detail in Blackbird's annual information form for the year ended July 31, 2014. 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 Blackbird'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, Blackbird assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.
(April 9, 2015 - 7:00 AM EDT)
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