Press release from Marketwire
Blackdog Resources Ltd. Announces Commencement of Production from Leduc Light Oil
Thursday, November 10, 2011
Blackdog Resources Ltd. Announces Commencement of Production from Leduc Light Oil08:00 EST Thursday, November 10, 2011CALGARY, ALBERTA--(Marketwire - Nov. 10, 2011) - Blackdog Resources Ltd. ("Blackdog" or "the Company")(TSX VENTURE:DOG) is pleased to announce that production from its Leduc Reef light oil exploration well (the "Leduc Well") near Sylvan Lake, Alberta commenced on Monday November 7, 2011. The Company has a 15% working interest in the Leduc Well and in the entire section of land the Leduc Well is situated on. The well was put onto production after the successful construction of a 4km pipeline. During the completion process before the pipeline was installed, the Leduc Well flow tested without the aid of artificial life of any kind at a rate of approximately 225 barrels of oil equivalent per day (net 35 boepd to Blackdog) during a limited test over a 5 day period.David A. Corcoran, President, commented: "Blackdog is very pleased with how the drilling, completion and tie-in processes for this 3000 metre deep exploration well have gone. The entire process from the commencement through to tie-in and first production was just over 10 weeks which is excellent. We look forward to updating the production rates from the well when the rates stabilize over the next few weeks."Blackdog Resources Ltd. is a junior oil and gas company focused on the exploration and development of light and medium oil properties in Southeast Saskatchewan and Alberta. The Company currently has 24,578,318 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.FOR FURTHER INFORMATION PLEASE CONTACT: David A. CorcoranBlackdog Resources Ltd.President(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.