Press release from Marketwire
Blackdog Resources Ltd. Updates Production from Leduc D3 Light Oil Well
Wednesday, November 16, 2011
Blackdog Resources Ltd. Updates Production from Leduc D3 Light Oil Well08:00 EST Wednesday, November 16, 2011CALGARY, ALBERTA--(Marketwire - Nov. 16, 2011) - Blackdog Resources Ltd. ("Blackdog" or "The Company") (TSX VENTURE:DOG) is pleased to announce production results from the first 6 days of its Leduc D3 light oil well ("the Leduc well") near Sylvan Lake, Alberta. During the period from November 7- 12, 2011 the Leduc well free flowed without the aid of any artificial lift a gross average of approximately 330 barrels of oil equivalent per day ("boepd"). This total was comprised of approximately 67 barrels of light oil ("bopd"), 1000 mcf of natural gas and 100 barrels of natural gas liquids. The Company has a 15% Working Interest ("W.I.") in the Leduc well and entire section of land the Leduc well is situated on. The net production to Blackdog during this period was approximately 50 boepd.The Company intends to provide additional production updates on the well over time and also anticipates at some stage that an artificial lift process will be put in place to further aid in delivering solid long term production numbers from this well.Blackdog Resources Ltd is a junior oil and gas company focused on the exploration and development of light oil properties in Southeast Saskatchewan and Alberta. The Company currently has 24,578,316 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) firstname.lastname@example.orgNeither 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.