Press release from Marketwire
Blackdog Resources Ltd. Updates Sylvan Lake Operations, Acknowledges Farm out Interest in Woking/Evi Properties
Monday, June 03, 2013
Blackdog Resources Ltd. Updates Sylvan Lake Operations, Acknowledges Farm out Interest in Woking/Evi Properties08:00 EDT Monday, June 03, 2013
CALGARY, ALBERTA--(Marketwired - June 3, 2013) - Blackdog Resources Ltd. ("Blackdog" or "the Company") (TSX VENTURE:DOG) is pleased to provide an update on our Sylvan Lake and Woking Properties.
In late March, 2013, the Company equipped its 100% owned light oil and liquid rich natural gas well at Sylvan Lake with a rod string and bottom hole pump. The Company also secured a large scale rental pump jack to test the well. However, at the last minute, the Operator of the pipeline was not comfortable with the unit Blackdog had secured for this test due to some concerns with regards to the wellhead attachment and sour gas nature of the well and as result would not allow its use. The Company scrambled and acquired a different smaller unit that was agreeable to the Operator. This unit proved to be undersized and did not function to the standards the Company required. However, even with this undersized unit the well produced economic quantities of oil, gas and gas liquids during the test period. The Company is quite pleased with the results of the test and is eagerly anticipating installing a proper unit. The Company has now secured a properly sized hydraulic pumping unit which is agreeable to the Operator and expects to have this unit installed in the next 5-7 days or sooner if the current heavy rains in Alberta subside and the lease becomes accessible.
The Company has also recently received several inquiries on its light oil properties at Woking and Evi. The Company is currently reviewing farm out offers on several potential new oil bearing zones on both properties.
Blackdog is junior oil and gas Company focused on light oil development in South East Saskatchewan and Alberta. The Company currently has 27,116,212 Common Shares Outstanding.
Certain information regarding Blackdog in this news release, including management's assessment of future plans for the Sylvan Lake, Evi and Woking properties, 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 Sylvan Lake, Evi and 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.
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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. Corcoran