Press release from Marketwire
Blackdog Resources Ltd. Announces Participation in and Commencement of Drilling of Horizontal Cardium Oil Well in Buck Lake, Alberta
Tuesday, November 22, 2011
Blackdog Resources Ltd. Announces Participation in and Commencement of Drilling of Horizontal Cardium Oil Well in Buck Lake, Alberta08:00 EST Tuesday, November 22, 2011CALGARY, ALBERTA--(Marketwire - Nov. 22, 2011) - Blackdog Resources Ltd. ("Blackdog" or "the Company") (TSX VENTURE:DOG) is pleased to announce that it will be participating in the drilling of a horizontal cardium light oil well near Buck Lake, Alberta (the "Buck Lake Well"). Pursuant to the terms of the farm-in agreement, Blackdog will pay 15% of all costs from drilling through to tie-in to earn a 15% working interest ("W.I.") in the Buck Lake Well and in the entire 480 acres property (3/4 of a section) subject to a 12% non-convertible gross overriding royalty. The location of the Buck Lake Well is at 9-22-46-6 W5M. A drilling rig has been moved onsite and the Buck Lake Well is expected to spud within the next 24 hours.David A. Corcoran, President of Blackdog, commented "Blackdog is very pleased to continue to expand its land position and drilling locations in the emerging Buck Lake cardium play. Blackdog now will have a 15% W.I. in 2 3/4 sections of land in this area. Should we have success from this Buck Lake Well, the tie-in process for a gasline is only 400 metres from the drilling location, and management expects to have the well online and producing before the end of 2011."Blackdog Resources Ltd. is a junior oil and gas company focused on the exploration and development of light oil properties in South East 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 tie-in of the Buck Lake Well, and Blackdog's 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.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.