CALGARY, ALBERTA--(Marketwired - Sept. 17, 2015) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that it is partnering with the Carbon Farmer and implementing its corresponding Tree Planting Program ("TPP").
In 2015, Blackbird's management team, spearheaded by Garth Braun, Chairman, CEO and President decided to develop a plan to minimize and help offset Blackbird's environmental impact.
Blackbird's management believes the best way to offset this impact is through planting trees in the northwest Alberta corridor that it operates in. The planting of trees is used to both restore habitat, as it replaces trees that are cleared as part of well pad development, and it also aims to offset the CO2e that is emitted through the flaring of our natural gas during initial production testing.
For 2015, Blackbird has partnered with The Carbon Farmer, an Alberta owned and operated company, to plant 2,500 native trees in northwestern Alberta, which will restore approximately 15,000 square meters (14,576 m2 or 3.6 acres) of boreal forest on conserved land that was cleared historically for farming. This initial TPP is equivalent to the area of almost 10 NHL ice rinks and should fully offset the trees removed as part of Blackbird's 2015 drilling operations.
According to Tree Canada, 2,500 trees also have the potential to store 1,250 tonnes of CO2e. In comparison, we expect to typically flare approximately 610 e3m3 (~21 mmcf) of natural gas per well, which produces approximately 1,250 tonnes of CO2. The Carbon Farmer is in the process of certifying the 2015 TPP project to the Gold Standard and Blackbird will consider purchasing the resulting carbon credits as they become available.*
The TPP is focused on the restoration of habitat. The TPP has been developed around the principle of replacing all trees that will be removed in association with the construction of our upcoming 2-20 well pad and to potentially offset some of the emissions we create. The TPP is a completely voluntary pursuit, above and beyond any regulatory requirements for reclamation and emissions reductions currently in place for Blackbird's operations.
Garth Braun stated, "The Tree Planting Program illustrates Blackbird's continued mandate to operate within the highest of environmental standards, above and beyond those regulated. In addition, Blackbird desires to be a highly valued, respected and contributing corporate citizen in the communities that we operate in. We will be announcing further programs in the near future that will solidify our commitment to these principles."
|* The Carbon Farmer estimates there will be 459 CO2e tonnes of certified Gold Standard carbon credits from the project, based on local growth conditions and species planted. The Carbon Farmer sells these carbon credits as a unique product, separate from the initial value of planting a tree for habitat restoration. Blackbird will consider purchasing these carbon credits as they become available, but to date Blackbird has not purchased, nor has any rights to, the carbon credits from the project.
About The Carbon Farmer
The Carbon Farmer is dedicated to bringing the highest quality habitat and carbon credits to market from the planting of nearly one million native trees on conserved land in Canada and around the world, while providing branded online platforms to its clients that can engage communities and encourage the sharing of positive environmental action on social media.
For more information, please visit www.thecarbonfarmer.ca
Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway at Elmworth, near Grande Prairie, 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 the Company. Such statements include, but are not limited to, the final number of trees planted under the TPP, the actual amount of CO2e that will be offset by such trees, the amount of natural gas that may be flared from the Company's wells, and any additional environmental programs. 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 the Company 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 our 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 the Company's property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the Company'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. 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 the Company'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, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
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