The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Blackdog Resources Ltd. Commences Winter Program at Light Oil Property at Woking, Alberta

Tuesday, December 11, 2012

Blackdog Resources Ltd. Commences Winter Program at Light Oil Property at Woking, Alberta08:00 EST Tuesday, December 11, 2012CALGARY, ALBERTA--(Marketwire - Dec. 11, 2012) - Blackdog Resources Ltd. ("Blackdog" or "The Company") (TSX VENTURE:DOG) is pleased to announce it has commenced its winter program for 2012-2013 at its light oil property at Woking, Alberta. The Company recently switched operators on the property and has restructured both its infrastructure and operational strategy to optimize the Company's operations at Woking. Now that these processes are in the place the Company is moving ahead with its growth plans. Based on successful results, the Company intends to initiate production from 3 additional light oil wells by the end of December, 2012. The first of these wells is expected to commence production by the end of the week. During Q1, 2013, the Company intends to test 2-3 additional wells and if successful initiate production from those wells by the end of March, 2013. The Company has an average working interest ("W.I.") of approximately 90% on the light oil wells at Woking. The Company will update production rates at Woking after the new wells are producing at stabilized rates.About Blackdog Blackdog is a junior oil and gas Company focused on light oil development in South East Saskatchewan and Alberta. The Company currently has 27,166,212 common shares outstanding. Certain information regarding Blackdog in this news release, including management's assessment of future plans for the Woking property, and the Company's operations, may constitute forward looking statements under applicable securities laws and necessarily involve risks including, without limitation, risks associated with the results of operations at Woking, 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: Neither 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. Contact Information: Blackdog Resources Ltd.David A. CorcoranPresident(403) 245-1726davidcor@telus.netwww.blackdogresources.com