BBI Blackbird Energy

Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is
pleased to provide an operational update on its Bigstone Montney formation,
liquids rich natural gas resource play.


The tubing string has been installed in the DEI Bigstone Hz 13-33-60-22w5 well
(BBI W.I. - 12.5%). After tubing installation the well was flowed back for a
period of 32.25 hours and during the final 24 hour period it produced at an
average rate of 2.87 Mmcf/day (BBI net - 0.360 Mmcf/d) and 510 bbls/day (BBI net
- 64 bbls/day) of condensate and load fluid for a combined barrel of oil
equivalent rate of 988 BOEPD (123 BOEPD net to BBI). Approximately 75% of the
load fluid used during fracking operations has been recovered to date. The 13-33
well was drilled to a total measured depth of 5,336 meters and completed with a
20 stage frac.


The DEI Bigstone Hz 13-33-60-22w5 tie-in operations including construction of
surface facilities and laying the pipeline connection to the Donnybrook operated
Bigstone gathering system has been completed. Production from the 13-33-60-22w5
well commenced on November 25, 2012.


Blackbird is also pleased to announce that production revenues from the
15-32-60-22w5 and 14-29-60-22w5 wells are now being received from the operator.


The Company's year-end independent reserve evaluation effective July 31, 2012,
prepared by GLJ Petroleum Consultants Ltd. ("GLJ"), an independent engineering
firm, has estimated that total Proved plus Probable reserves of 625,000 bbls of
oil equivalent were recoverable from 2.25 sections of the Company's interest in
the 8 section block, based upon the drilling of the first three wells at
Bigstone. The remaining undeveloped interest lands are offset by successfully
completed Montney wells drilled by industry participants in the area, thereby
substantially de-risking the Montney potential of the remaining acreage. The
next phase of development work at Bigstone will focus on proving up the
potential of the remaining 5.75 sections of undrilled lands.


Garth Braun, CEO of Blackbird, stated, "The tie-in of the third well at Bigstone
is a continued enhancement of Blackbird's production revenue. The recently
announced acquisition of Celtic Exploration Inc. by Exxon Mobile Corporation
further highlights the interest in companies that are participating in
development of the Montney Formation. Blackbird is focused on increasing its
position in the development of the Montney Formation and identifying new
opportunities to grow shareholder value."


Blackbird today also announced that it has filed its audited financial
statements and related management's discussion and analysis for the year ended
July 31, 2012 with the Canadian securities regulatory authorities on SEDAR at
www.sedar.com. In addition, the Company has filed its statement of reserves data
and other oil and gas information for the year ended July 31, 2012 as mandated
by National Instrument 51-101 - Standards of Disclosure for Oil and Gas
Activities ("NI 51-101") of the Canadian Securities Administrators.


Blackbird's reserves were evaluated as at July 31, 2012 by GLJ. GLJ's evaluation
was conducted in accordance with standards set out in the Canadian Oil and Gas
Evaluation Handbook and is compliant with NI 51-101.


About Blackbird

Blackbird's Bigstone Project is comprised of lands and licenses covering a total
of 8 sections (1.75 net) or 5,120 acres (1,120 net acres) in Township 60, ranges
22 and 23W5 at Bigstone, Alberta. Pursuant to the terms of the farm in agreement
with Donnybrook Energy Inc., Blackbird has the option to participate as to a 25
per cent interest in any future operations within an area of mutual interest.


On behalf of the board of BLACKBIRD ENERGY INC.

Garth Braun, Chief Executive Officer and Director

Oil Equivalency Conversion (BOE)

Where amounts are expressed on a barrel of oil equivalent ("BOE") basis, natural
gas volumes have been converted to BOE at a ratio of 6,000 cubic feet of natural
gas to one barrel of oil equivalent (6 Mcf = 1 BOE). The conversion ratio is
based upon an energy equivalent conversion method, primarily applicable at the
burner tip and does not represent value equivalence at the wellhead. BOE values
may be misleading, particularly if used in isolation.


Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect
the expectations of management regarding production and production revenues from
the wells. Forward-looking statements consist of statements that are not purely
historical, including any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such statements are subject to risks and
uncertainties that may cause actual results, performance or developments to
differ materially from those contained in the statements. No assurance can be
given that any of the events anticipated by the forward-looking statements will
occur or, if they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management's current views and are
based on certain expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause our actual results to
differ materially from those expressed or implied by the forward-looking
statements, including: (1) a downturn in general economic conditions in North
America and internationally, (2) the inherent uncertainties and speculative
nature associated with oil and gas exploration and production, (3) a decreased
demand for natural gas, (4) any number of events or causes which may delay or
cease exploration and development of the Company's property interests, such as
environmental liabilities, weather, mechanical failures, safety concerns and
labour problems, (5) the risk that the Company does not execute its business
plan, (6) inability to retain key employees, (7) inability to finance operations
and growth, and (8) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news release and,
except as required by law, the Company assumes no obligation to update these
forward-looking statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
QIS Capital Corp.
Doren Quinton
President
(250) 377-1182
info@qiscapital.com
www.qiscapital.com


Blackbird Energy Inc.
604-689-1022
www.blackbirdenergyinc.com

Blackbird Energy Inc. (TSXV:BBI)
Historical Stock Chart
From May 2024 to Jun 2024

Blackbird Energy Inc. (TSXV:BBI)
Historical Stock Chart
From Jun 2023 to Jun 2024