Press release from Marketwire
Blackdog Resources Ltd. Announces Participation in Drilling of Leduc Reef Exploration Well at Sylvan Lake, Alberta
Friday, September 02, 2011
Blackdog Resources Ltd. Announces Participation in Drilling of Leduc Reef Exploration Well at Sylvan Lake, Alberta08:00 EDT Friday, September 02, 2011CALGARY, ALBERTA--(Marketwire - Sept. 2, 2011) - Blackdog Resources Ltd. ("Blackdog" or the "Company") (TSX VENTURE:DOG) is pleased to announce that the Company is participating in the drilling of an approximate 3000 metre deep Leduc Reef Exploration well (the "Well") near Sylvan Lake, Alberta. The target was defined using extensive 3D seismic analysis and the Company believes the target is prospective for light oil.Under the terms of a farm in agreement, Blackdog is paying 25% of all costs to testing or abandonment to earn a 15% working interest ("W.I.") in the Well and entire section of land the Well is situated on. The Company believes that a successful well could lead to the drilling of two additional wells on the same section of land.Also under the terms of the farm in agreement, Blackdog received an option, at the Company's discretion, to participate in the drilling of a second Leduc Reef Exploration well in the Sylvan Lake area. Blackdog would pay 25% of all costs to testing or abandonment to earn a 16.25% W.I. in this well and the land it is situated on. Blackdog has a 72 hour window from the casing or abandonment of the first exploration well to exercise this option.The first well has been spud and the Company expects to announce results during the month of September.Blackdog Resources Ltd. is a junior oil and gas company focused on the development and production of light and medium oil in South East Saskatchewan and Alberta. The Company has 24,574,318 Common Shares Outstanding.Certain information regarding Blackdog in this news release, including management's assessment of future plans and operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, without limitation, 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.FOR FURTHER INFORMATION PLEASE CONTACT: PresidentDavid A. Corcoran(403) email@example.comNeither 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 the accuracy of this release.