CALGARY, ALBERTA--(Marketwire - Dec. 9, 2011) - Blackdog Resources Ltd. (TSX VENTURE:DOG) ("Blackdog" or "the Company") is pleased to announce that it has successfully cased its horizontal cardium light oil well at Buck Lake, Alberta (the "Buck Lake Well"). The decision to case the Buck Lake Well was made after a review by the Company of the logs and samples.
Blackdog has a 15% working interest ("W.I.") in the Buck Lake Well subject to a 12% non convertible gross overriding royalty on the well and the entire three-quarter section of land the Buck Lake Well is situated on. Management of the Company believes that a successful well could to lead to additional drilling locations.
The operator of the Buck Lake Well is currently in the process of installing a tank battery with oil that will be used for the fracture stimulation program that is scheduled to commence in the next 7-10 days, subject to availability of oil field services in the area. Should the testing of the well prove commercial, the tie-in process for a pipeline is only 400 metres from the drilling location, and management of Blackdog 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 26,786,249 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.
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.