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Blackbird Energy - recent coverage by oilprice.com



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By Bobwins

Posted: Thursday Mar 5 10:30:52AM 2015

bbi.v  -.045 to C$.295.    sold the rest of my bbi.v.

 

I am pessimistic about LNG exports from BC and what will they do with Montney production if there is no LNG export market?

Canadian ngas producers could run into no bids this summer at any price.  US Marcellus production is profitable at $2/mcf so they will keep drilling.  Also anti flaring regs will force more ngas into production pipelines.  

This summer, canadian producers will face $1/mcf prices or less because they have to pay pipeline charges to the US and US production will keep growing.  


By Bobwins

Posted: Wednesday Mar 4 10:40:36AM 2015

I bought a small amount of shares in a private placement a few years ago at C$.20.  Really had written off the stock as it plunged to around .04 last year.  Miraculous rise since then and so I sold off 1/2 my shares this morning at C$.35.  Should have sold some above C$.40 but got greedy.  What a surprise!

 

Still early days for Blackbird.  They do appear to have good ground with hundreds of drill sites.  The big question is whether these wells are economic at current low and probably headed lower ngas prices and whether the glut in NGL's in the US will neuter the extremely high NGL percentage in these Montney wells.  


By cjack

Posted: Wednesday Mar 4 10:14:20AM 2015

I think the results from the choked off well are pretty positive.  I am not sure about the other well.  I don't have enough technical knowledge to confidently interpret these test results - does anyone on this forum?  For sure this stock was priced to perfection so the sell-off is understandable.    There will be no miraculous event to take this above the 42 cent level.  They are going to have to demonstrate the economy of these test wells and then drill out and complete some production to reflect their valuation.  Assuming they can get the NPV of their wells to the $3.5-$5 million level we are talking about at least 20 wells before reflecting yesterday's stock price.

Don't get me wrong, I love this company and this management team.  My relationship with the stock is love/hate though. Patience will be required from these levels.  Kudos to those who loaded up at 8 cents.


By Bobwins

Posted: Wednesday Mar 4 6:52:51AM 2015

bbi.v  -.05 to .35   selling on news.  liquids content very high but ngas production on the low side.  

 

 

http://finance.yahoo.com/news/blackbird-energy-announces-two-significant-120000621.html


By Bobwins

Posted: Monday Mar 2 10:18:26PM 2015

watching news closely.  Blackbird should release well test results this week.   


By Bobwins

Posted: Monday Feb 9 8:32:35AM 2015

February letter to shareholders.  Completion is done.  Now waiting for testing results.  That's good news there were no problems with the fracking.  He goes on to define how they willjudge the results..In this low oil price  environment, he is looking for high(>100bbls/mcf)liquids content to ensure profitability

 

http://www.blackbirdenergyinc.com/i/misc/Executive-Letter-February-2015-Final.pdf


By Bobwins

Posted: Monday Feb 9 7:29:05AM 2015

BBI.V  +.03 to .385   Blackbird continues to climb.


By Bobwins

Posted: Sunday Feb 8 1:08:39PM 2015

bbi.v  +.005 to C$.355  

 

Excellent interview with Garth Braun,CEO of Blackbird Energy.  Completion results on their two Montney wells due by mid Feb.

 

Pointed out that they have cash to drill 4 to 5 more wells in 2015.  Seeking lower costs from suppliers.

 

Very articulate speaker. Focused and promised to tell Blackbird story to institutions in Canada and US. 

http://youtu.be/fwGz1cC_61Y 

 


By Bobwins

Posted: Tuesday Feb 3 8:45:59PM 2015

BBI.v  +.005 to C$.335  Blackbird continues to climb ahead of announcing their drill results.  We should find out if their two new wells have good test results by mid/late February.  

 

Recent news on the LNG export markets have not been good as lower oil prices and low demand are dragging down LNG prices towards $7/mcf.  If prices stay in that range, I doubt the BC export L|NG plants will get built.  


By Bobwins

Posted: Thursday Jan 29 6:19:55AM 2015

BBI.v  C$.285

Optimistic article featuring Blackbird Energy

 

http://www.stockhouse.com/news/press-releases/2015/01/29/little-known-small-cap-set-to-dominate-montney-shale-play

 

I am worried about whether BC will ever actually export LNG.  If those export plants never operate, will the Montney be developed?

 

I'm waiting for initial test results in a few weeks.  May exit then, especially if price spikes.

 


By Bobwins

Posted: Sunday Nov 23 11:09:22AM 2014

BBI.v/BKBEF  C$.385

Jennings initiates coverage with a price target of C$.65.  Good read with warnings about what happens if they miss on their first two wells.

http://www.jenningscapital.com/report/2830


By Bobwins

Posted: Monday Nov 17 12:24:02PM 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BBI.v -.01 to C$.395.   Blackbird has started the process of proving their land acquisitions are going to transform the company.  They also announced a C$5million financing a few days ago at MORE than the current price.  Financing was flow thru so typically higher price but at C$.45, that is clearly over the current market price.  So investors are excited about Blackbird.  We'll find out in late December or January if the excitement was warranted. 

 

 

 

Blackbird Energy (TSX: V.BBI, Stock Forum) moved exploration forward at its Elmworth Project located in Northern Alberta when the company announced today that it had spudded its first Middle Montney well from surface location 14-14-70-07W6.

 

According to the news release, the company intended to drill to an approximate total depth of 2,330 metres and an approximately lateral length of 2,000 metres to location 6-26-70-07W6.

 

Upon completion of the first well, the company will immediately begin drilling its second well at Elmworth using the Upper Montney as the target.

 

In other news, the company also announced closing the non-brokered tranche of its private placement first announced September 22, 2014.

 

The non-brokered tranche consisted of 24 million special warrants for gross proceeds of $7.0 million with each special warrant entitling the holder to receive, for no additional consideration, one common share.

 

The brokered tranche of the private placement is anticipated to close on or about October 21, 2014.

 

All special warrants issued are subject to a four month and one day holding period, expiring on February 18, 2015 unless a receipt for the Qualification Prospectus is obtained prior to said date.

 

Blackbird Energy was in the news recently when the Calgary-based company announced a high-impact drill program to target both the Upper and Middle Montney almost two weeks ago.

 

Currently there are 204.8m outstanding shares with a market cap of $64.5 million.


Read more at http://www.stockhouse.com/news/newswire/2014/10/20/blackbird-energy-v-bbi-spuds-first-middle-montney-well-elmworth-project#ElWFE6q5Z31qEE8Q.99

By Bobwins

Posted: Thursday Nov 6 10:21:17AM 2014

CALGARY, ALBERTA--(Marketwired - Nov 6, 2014) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that it has acquired a 100% working interest in 10 additional sections (6,400 net acres) of Montney rights from four separate vendors that are contiguous or within one mile of Blackbird's existing western Elmworth acreage, which represents a 28% increase. With the completion of these multi-transactional series of acquisitions Blackbird now holds 100% working interest in 46 contiguous sections (29,440 acres) and a total of 50 sections of Montney rights at Elmworth.

The sections that have been acquired are on the western border of Blackbird's existing Elmworth block and are within three miles of Blackbird's 6-26-70-07W6 Middle Montney well that was spud on October 20, 2014.

Garth Braun, CEO of Blackbird commented "This significant acquisition in the western portion of our core area of Elmworth continues to demonstrate Blackbird's determination in becoming a significant Montney player in the Elmworth/Gold Creek area. Blackbird continues to focus on addressing infrastructure requirements and establishing an even greater footprint in this liquids-rich corridor".

About Blackbird

Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway.

For more information please view our Corporate Presentation at www.blackbirdenergyinc.com

On behalf of the board of
BLACKBIRD ENERGY INC.
 
Per: "Garth Braun"
Garth Braun
Chief Executive Officer and Director

By Bobwins

Posted: Tuesday Nov 4 9:21:03PM 2014

First monthly newsletter from blackbird energy that will keep investors up to date on their progress.

 

http://www.blackbirdenergyinc.com/i/pdf/Executive-Letter-November-2014.pdf


By Bobwins

Posted: Tuesday Oct 21 2:23:50PM 2014

bbi.v  +.03 to C$.38

 

The Evolution of Blackbird Energy: The Building of Montney Player

Accesswire 
 
 

 

London, England / ACCESSWIRE / October 21, 2014 / In today's capitally restricted oil and gas environment, it is a difficult task to assemble the right resource and team to attract the attention of the market. Blackbird Energy Inc. (BBI.V) has done what many have failed to do over the past several years - graduate out of the perpetually difficult micro-cap arena- and get investors listening with its stock climbing over 400% since last year. This increase in share price has been as a result of Blackbird obtaining a $37.4 million equity financing and last week announcing a high impact multi-well drill program targeting both the Upper and Middle Montney - a mighty feat for a company that only 12 months ago had a market cap of approximately $10 million.

Blackbird it seems realized the challenges and confronted them head on at a very early stage first by getting ahead of the trend. This was done by building a model of what they believed was the highly liquids first fairway in the Montney and accumulating a position in it through slow and steady land accumulation - much before the large industry leaders in the area clued in. It might seem easy to do this but Blackbird analyzed over 2,400 well logs to do this amongst a myriad of other things which will be touched on. By Blackbird positioning itself early in this liquids rich corridor located in the Elmworth area, just south of Grand Prairie, it was able to assemble 117 sections (74,880 acres) total, 36 contiguous sections (23,040 acres) in Elmworth for the cost of approximately $25,000 per section compared to the current market rate of $2.9 million per section.

The Montney is nothing new to the oil and gas investor, however what Blackbird focused on was ensuring the size of the prize was large enough meaning the resource size (reserves and resource thickness) and the value and economics were great enough that it would attract other industry leaders to effectively delineate the resource with their capital. Blackbird's Elmworth land base of 36 sections has Montney resource that is greater than 200 meters thick and contains 3 to 7 zones based on near proximity industry leaders Encana Inc. (ECA), Nuvista Energy (NVA.TO), Royal Dutch Shell (RDS.V), and Chinook Energy (TSX:CKE). Based on four wells per section for three zones Blackbird can drill over 400 wells creating the large prize that has the above industry leaders drilling rapidly towards Blackbird. Nearby wells have shown total ultimate recovery of 4.4 bcf of gas and 330 mbbls of liquids which equates to approximately 1 million barrels of oil equivalent recoverable per well – equating to a potential total resource build of approximately 400 million boe.

Blackbird's evolution has continued with the markets attention gaining even more steam as the company sought to solve the impediments that seem to affect most Canadian Montney players: access, H2S and egress. Blackbird very quickly addressed the question of access through the very location it had picked at Elmworth which has 12 month a year access and is close to both services and major highways. H2S issues were addressed through mapping of the entire regions H2S readings and discovering that as the resource moved eastward, towards Blackbird's land base, H2S decrease significantly from ~4% to less than 1%. Egress was addressed recently with Blackbird signing a strategic Memorandum of Understanding with private midstream company Mistral Energy, an amazing feat for a junior oil and gas company and something that shows management understands what is needed to build true value in the Montney.

What is most intriguing though is that Blackbird has assembled right before our eyes an incredible team to delineate and de-risk the Montney resource. The fact that Blackbird has assembled a team of individuals that have all been part of successful resource companies shows that the corridor that Blackbird is located has the right resource, but furthermore that the new team members believe in managements philosophy and their extremely disciplined and high velocity approach to building a company.

All of the above boils down to one thing, Blackbirds ability to access capital in an extremely challenged market, as everyone knows without capital there is no ability to grow. This capital has allowed Blackbird to launch is first high impact drill program that should prove an immense resource build and further propel the company's share price. The land validation these wells achieve can also allow Blackbird to add additional land within the framework of its low cost acquisition model.

The message this large drilling program is sending to the market is this: "Blackbird will not only drill wells, but will do so on a cost effective basis. Blackbird will also add further value from the wells beyond the resource and production build through land acquisition by way of drilling validation", according to company CEO Garth Braun.

It is evident through its strategy and execution to date that Blackbird does not want itself to be viewed as a small company - and the market is noticing this - S&P has just included Blackbird in its S&P TSX Venture Select Index.

In the tough environment of resource stocks it is always difficult to decipher the winners and through its execution to date Blackbird is showing that it wants to be a significant Montney player and it is deserving of that title.

By: James Burgess of Oilprice.com

SOURCE: Oilprice.com

The Evolution of Blackbird Energy: The Building of Montney Player

Accesswire 
 
 

 

London, England / ACCESSWIRE / October 21, 2014 / In today's capitally restricted oil and gas environment, it is a difficult task to assemble the right resource and team to attract the attention of the market. Blackbird Energy Inc. (BBI.V) has done what many have failed to do over the past several years - graduate out of the perpetually difficult micro-cap arena- and get investors listening with its stock climbing over 400% since last year. This increase in share price has been as a result of Blackbird obtaining a $37.4 million equity financing and last week announcing a high impact multi-well drill program targeting both the Upper and Middle Montney - a mighty feat for a company that only 12 months ago had a market cap of approximately $10 million.

Blackbird it seems realized the challenges and confronted them head on at a very early stage first by getting ahead of the trend. This was done by building a model of what they believed was the highly liquids first fairway in the Montney and accumulating a position in it through slow and steady land accumulation - much before the large industry leaders in the area clued in. It might seem easy to do this but Blackbird analyzed over 2,400 well logs to do this amongst a myriad of other things which will be touched on. By Blackbird positioning itself early in this liquids rich corridor located in the Elmworth area, just south of Grand Prairie, it was able to assemble 117 sections (74,880 acres) total, 36 contiguous sections (23,040 acres) in Elmworth for the cost of approximately $25,000 per section compared to the current market rate of $2.9 million per section.

The Montney is nothing new to the oil and gas investor, however what Blackbird focused on was ensuring the size of the prize was large enough meaning the resource size (reserves and resource thickness) and the value and economics were great enough that it would attract other industry leaders to effectively delineate the resource with their capital. Blackbird's Elmworth land base of 36 sections has Montney resource that is greater than 200 meters thick and contains 3 to 7 zones based on near proximity industry leaders Encana Inc. (ECA), Nuvista Energy (NVA.TO), Royal Dutch Shell (RDS.V), and Chinook Energy (TSX:CKE). Based on four wells per section for three zones Blackbird can drill over 400 wells creating the large prize that has the above industry leaders drilling rapidly towards Blackbird. Nearby wells have shown total ultimate recovery of 4.4 bcf of gas and 330 mbbls of liquids which equates to approximately 1 million barrels of oil equivalent recoverable per well – equating to a potential total resource build of approximately 400 million boe.

Blackbird's evolution has continued with the markets attention gaining even more steam as the company sought to solve the impediments that seem to affect most Canadian Montney players: access, H2S and egress. Blackbird very quickly addressed the question of access through the very location it had picked at Elmworth which has 12 month a year access and is close to both services and major highways. H2S issues were addressed through mapping of the entire regions H2S readings and discovering that as the resource moved eastward, towards Blackbird's land base, H2S decrease significantly from ~4% to less than 1%. Egress was addressed recently with Blackbird signing a strategic Memorandum of Understanding with private midstream company Mistral Energy, an amazing feat for a junior oil and gas company and something that shows management understands what is needed to build true value in the Montney.

What is most intriguing though is that Blackbird has assembled right before our eyes an incredible team to delineate and de-risk the Montney resource. The fact that Blackbird has assembled a team of individuals that have all been part of successful resource companies shows that the corridor that Blackbird is located has the right resource, but furthermore that the new team members believe in managements philosophy and their extremely disciplined and high velocity approach to building a company.

All of the above boils down to one thing, Blackbirds ability to access capital in an extremely challenged market, as everyone knows without capital there is no ability to grow. This capital has allowed Blackbird to launch is first high impact drill program that should prove an immense resource build and further propel the company's share price. The land validation these wells achieve can also allow Blackbird to add additional land within the framework of its low cost acquisition model.

The message this large drilling program is sending to the market is this: "Blackbird will not only drill wells, but will do so on a cost effective basis. Blackbird will also add further value from the wells beyond the resource and production build through land acquisition by way of drilling validation", according to company CEO Garth Braun.

It is evident through its strategy and execution to date that Blackbird does not want itself to be viewed as a small company - and the market is noticing this - S&P has just included Blackbird in its S&P TSX Venture Select Index.

In the tough environment of resource stocks it is always difficult to decipher the winners and through its execution to date Blackbird is showing that it wants to be a significant Montney player and it is deserving of that title.

By: James Burgess of Oilprice.com

SOURCE: Oilprice.com

The Evolution of Blackbird Energy: The Building of Montney Player

Accesswire 
 
 

 

London, England / ACCESSWIRE / October 21, 2014 / In today's capitally restricted oil and gas environment, it is a difficult task to assemble the right resource and team to attract the attention of the market. Blackbird Energy Inc. (BBI.V) has done what many have failed to do over the past several years - graduate out of the perpetually difficult micro-cap arena- and get investors listening with its stock climbing over 400% since last year. This increase in share price has been as a result of Blackbird obtaining a $37.4 million equity financing and last week announcing a high impact multi-well drill program targeting both the Upper and Middle Montney - a mighty feat for a company that only 12 months ago had a market cap of approximately $10 million.

Blackbird it seems realized the challenges and confronted them head on at a very early stage first by getting ahead of the trend. This was done by building a model of what they believed was the highly liquids first fairway in the Montney and accumulating a position in it through slow and steady land accumulation - much before the large industry leaders in the area clued in. It might seem easy to do this but Blackbird analyzed over 2,400 well logs to do this amongst a myriad of other things which will be touched on. By Blackbird positioning itself early in this liquids rich corridor located in the Elmworth area, just south of Grand Prairie, it was able to assemble 117 sections (74,880 acres) total, 36 contiguous sections (23,040 acres) in Elmworth for the cost of approximately $25,000 per section compared to the current market rate of $2.9 million per section.

The Montney is nothing new to the oil and gas investor, however what Blackbird focused on was ensuring the size of the prize was large enough meaning the resource size (reserves and resource thickness) and the value and economics were great enough that it would attract other industry leaders to effectively delineate the resource with their capital. Blackbird's Elmworth land base of 36 sections has Montney resource that is greater than 200 meters thick and contains 3 to 7 zones based on near proximity industry leaders Encana Inc. (ECA), Nuvista Energy (NVA.TO), Royal Dutch Shell (RDS.V), and Chinook Energy (TSX:CKE). Based on four wells per section for three zones Blackbird can drill over 400 wells creating the large prize that has the above industry leaders drilling rapidly towards Blackbird. Nearby wells have shown total ultimate recovery of 4.4 bcf of gas and 330 mbbls of liquids which equates to approximately 1 million barrels of oil equivalent recoverable per well – equating to a potential total resource build of approximately 400 million boe.

Blackbird's evolution has continued with the markets attention gaining even more steam as the company sought to solve the impediments that seem to affect most Canadian Montney players: access, H2S and egress. Blackbird very quickly addressed the question of access through the very location it had picked at Elmworth which has 12 month a year access and is close to both services and major highways. H2S issues were addressed through mapping of the entire regions H2S readings and discovering that as the resource moved eastward, towards Blackbird's land base, H2S decrease significantly from ~4% to less than 1%. Egress was addressed recently with Blackbird signing a strategic Memorandum of Understanding with private midstream company Mistral Energy, an amazing feat for a junior oil and gas company and something that shows management understands what is needed to build true value in the Montney.

What is most intriguing though is that Blackbird has assembled right before our eyes an incredible team to delineate and de-risk the Montney resource. The fact that Blackbird has assembled a team of individuals that have all been part of successful resource companies shows that the corridor that Blackbird is located has the right resource, but furthermore that the new team members believe in managements philosophy and their extremely disciplined and high velocity approach to building a company.

All of the above boils down to one thing, Blackbirds ability to access capital in an extremely challenged market, as everyone knows without capital there is no ability to grow. This capital has allowed Blackbird to launch is first high impact drill program that should prove an immense resource build and further propel the company's share price. The land validation these wells achieve can also allow Blackbird to add additional land within the framework of its low cost acquisition model.

The message this large drilling program is sending to the market is this: "Blackbird will not only drill wells, but will do so on a cost effective basis. Blackbird will also add further value from the wells beyond the resource and production build through land acquisition by way of drilling validation", according to company CEO Garth Braun.

It is evident through its strategy and execution to date that Blackbird does not want itself to be viewed as a small company - and the market is noticing this - S&P has just included Blackbird in its S&P TSX Venture Select Index.

In the tough environment of resource stocks it is always difficult to decipher the winners and through its execution to date Blackbird is showing that it wants to be a significant Montney player and it is deserving of that title.

By: James Burgess of Oilprice.com

SOURCE: Oilprice.com


By dquinton

Posted: Tuesday Oct 21 9:24:30AM 2014

NEWS RELEASE

 

BLACKBIRD ENERGY INC. ANNOUNCES CLOSING OF BOUGHT DEAL FINANCINGS FOR GROSS PROCEEDS OF APPROXIMATELY $30.4 MILLION

 

 

October 21, 2014 - Calgary, Alberta (TSX-V: BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce the completion of the previously announced bought deal private placement of 86,207,000 special warrants (the "Special Warrants") and 15,900,000 common shares to be issued on a flow-through basis in respect of Canadian Exploration Expenses (the "Flow-Through Shares"), (collectively the "Financings") at a price of $0.29 per Special Warrant and $0.34 per Flow-Through Share for total gross proceeds of approximately $30.4 million.

 

Garth Braun, Blackbird's CEO commented: “With the completion of these financings Blackbird now has the team, the assets and the financing in place to begin proving up its resource rich land base by drilling its first two Montney wells at Elmworth while maintaining balance sheet flexibility to pursue and execute incremental strategic acquisitions.  We are also very pleased to welcome significant new long term shareholders, including a new board member, and look forward to delivering significant value creation to our new and existing investors.”

 

National Bank Financial Inc. as lead underwriter, together with Raymond James Ltd., Haywood Securities Inc., TD Securities Inc., Cormark Securities Inc. and Jennings Capital Inc. (collectively the "Underwriters"), acted as the underwriters with respect to the Financings.  In connection with the Financing, the Underwriters received a cash commission equal to 5.0% of the gross proceeds raised under the Financing, other than for certain investors on a ‘President’s List’.

 

Following completion of the Financings and closing of the previously announced non-brokered financing of approximately $7 million, Blackbird has approximately $44 million of cash and net working capital. Blackbird intends to use the net proceeds from the Financings along with its current net working capital balance to fund ongoing exploration and development of its core Montney lands at Wapiti, potential strategic acquisitions and for general and corporate purposes.

 

In connection with the Financings, the Company has agreed to prepare and file a prospectus (the "Qualification Prospectus") and all other necessary documents in order to qualify the Common Shares issuable upon conversion of the Special Warrants to subscribers resident in Canada, or otherwise subject to Canadian securities laws. The Company has agreed to use commercially reasonable best efforts to obtain a receipt for the Qualification Prospectus within 60 days of the closing date of the Financings.

 

In accordance with applicable securities laws, the Special Warrants and Flow-Through Shares are subject to a four month and one day hold period, expiring on February 22, 2015 unless a receipt for the Qualification Prospectus is obtained prior to such date.

 

The Financings remain subject to receipt of TSX Venture Exchange final acceptance.

 

About Blackbird

Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway. 

On behalf of the board of
BLACKBIRD ENERGY INC.

Per:      "Garth Braun"

Garth Braun
Chief Executive Officer and Director

 

For further information contact:

 

Blackbird Energy Inc.

Garth Braun

President and CEO

(587) 538-0383

gbraun@blackbirdenergyinc.com

 

Blackbird Energy Inc.

Joshua Mann

Vice President, Business Development

(403) 390-2144

josh@blackbirdenergyinc.com

 

Brisco Capital Partners Corp.

Scott Koyich

(403) 619-2200

skoyich@briscocapital.com

 

 

Disclaimer for Forward-Looking Information

 

This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). 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 and are not guarantees of future performance of the Company.  Such statement include, but are not limited to, receipt of TSX Venture Exchange final acceptance for the Financings and the use of the proceeds of the Financings for ongoing exploration and development of thecore Montney lands at Wapiti, potential strategic acquisitions and for general and corporate purposes.  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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (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. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.  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 accuracy of this PRESS release.


By dquinton

Posted: Monday Oct 20 5:20:27AM 2014

NEWS RELEASE

 

BLACKBIRD ENERGY INC. ANNOUNCES SPUDDING OF FIRST MIDDLE MONTNEY WELL AT ELMWORTH AND THE CLOSING OF $7.0 MILLION NON-BROKERED TRANCHE OF ONGOING PRIVATE PLACEMENT

 

 

October 20, 2014 - Calgary, Alberta (TSX-V: BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce that it has spud its first Middle Montney well at Elmworth. The well was spud from surface location 14-14-70-07W6 and will be drilled to a vertical depth of approximately 2,330 meters and a lateral length of approximately 2,000 meters to location 6-26-70-07W6. Drilling operations are expected to take approximately 30 days to complete.

 

Post completion of its first well, Blackbird will immediately commence the drilling of its second well at Elmworth targeting the Upper Montney.

 

Blackbird is also pleased to announce that it has closed the non-brokered tranche (the "Non-Brokered Tranche") of the private placement first announced on September 22, 2014 (the "Private Placement").

 

An aggregate of 24,138,241 special warrants (each, a "Special Warrant") for gross proceeds of $7,000,089 were issued pursuant to the Non-Brokered Tranche. Each Special Warrant entitles the holder thereof to receive, for no additional consideration upon its exercise or deemed exercise, one Common Share. The Special Warrants were issued pursuant to a special warrant indenture dated October 16, 2014 between Blackbird and Computershare Trust Company of Canada as special warrant agent.  

 

The Company currently expects to close the brokered tranche of the Private Placement (the "Brokered Tranche") on or about October 21, 2014.

 

In connection with the Private Placement, the Corporation has agreed to prepare and file a prospectus (the "Qualification Prospectus") and all other necessary documents in order to qualify the Common Shares issuable upon conversion of the Special Warrants to subscribers resident in Canada, or otherwise subject to Canadian securities laws. The Corporation has agreed to use commercially reasonable best efforts to obtain a receipt for the Qualification Prospectus within 60 days of the closing date of the Brokered Tranche.

 

In connection with the Non-Brokered Tranche, the Company paid a cash finder's fee to various arm's length finders in the aggregate amount of $93,964.

 

In accordance with applicable securities laws, the Special Warrants are subject to a four month and one day hold period, expiring on February 18, 2015 unless a receipt for the Qualification Prospectus is obtained prior to such date.

 

The Non-Brokered Tranche remains subject to receipt of TSX Venture Exchange final acceptance.

 

About Blackbird

Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway. 

On behalf of the board of
BLACKBIRD ENERGY INC.

Per:      "Garth Braun"

Garth Braun
Chief Executive Officer and Director

 

For further information contact:

 

Blackbird Energy Inc.

Garth Braun

President and CEO

(587) 538-0383

gbraun@blackbirdenergyinc.com

 

Blackbird Energy Inc.

Joshua Mann

Vice President, Business Development

(403) 390-2144

josh@blackbirdenergyinc.com

 

Brisco Capital Partners Corp.

Scott Koyich

(403) 619-2200

skoyich@briscocapital.com

 

 

Disclaimer for Forward-Looking Information

 

This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements"). 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 and are not guarantees of future performance of the Company.  Such statement include, but are not limited to, the anticipated timing for closing of the Brokered Tranche, receipt of TSX Venture Exchange final acceptance for the Non-Brokered Tranche, the timing and completion of the Middle Montney well located at 14-14-70-07W6 or the commencement of drilling operations for the following well at Elmworth.  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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (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. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

 

The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

 

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.  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 accuracy of this PRESS release.


By Bobwins

Posted: Monday Sep 29 9:15:09AM 2014

Small Canadian Oil Company Makes A Big Play

Accesswire 
 
 

 

London, England / ACCESSWIRE / September 29, 2014 / September has been a big month for one small Canadian oil company. Blackbird Energy Inc. (BBI.V) pulled off a major land acquisition deal, sold off non-core assets, entered into a strategic infrastructure MOU, and is gearing up for drilling operations on a very exciting oil and gas project.

The small company is based in Calgary but its operations focus on the Montney Shale, an oil and gas formation that stretches across parts of British Columbia and Alberta. The Montney Shale potentially holds 450 trillion cubic feet of natural gas.

Blackbird started out as a company with several sections of unconnected land in the Montney, and a minimal budget but through a steady and prudent land acquisition strategy, Blackbird has succeeded in building up its portfolio of highly prospective land. It got to the high liquids rich Montney corridor ahead of a lot of other companies, and its holdings grew in value as industry leaders moved towards Blackbirds land position proving up the immense resource and valuing up the lands in the corridor.

While flying below the radar for many months, Blackbird came out swinging in September by issuing a slew of announcements that demonstrated its growing confidence in core play Elmworth / East Wapiti. First came its September 2 news that it had completed several land purchases. It bought 85 net sections of land amounting to 54,400 in acreage. The best part about it was that the acreage abutted its existing holdings in the Elmworth Project, the company's most promising asset. In total, the purchases increased Blackbird's acreage in the Montney Shale by 366%, a bold move for such a small company.

A week later, the company announced that it had received its crown lease at the site of its first Elmworth well. It still needs a well license, but the company says that it will receive the remaining permits shortly.

With all the regulatory paperwork completed, Blackbird will begin drilling on its Elmworth Project in Q4 2014 as previously stated by the company, but drilling operations are contingent upon having enough cash on hand. That piece of the puzzle was finalized in mid-September when Blackbird closed on a deal to sell its Bigstone project, allowing the company to put $8.89 million in the bank. The cash infusion is huge relative to the company's size. Bigstone was deemed by Blackbird to be a "non-core asset," and the sale of the acreage will allow the company to redeploy cash to focus on Elmworth.

Finally, on September 22, Blackbird announced that it had secured $35.5 million in financings that was subsequently increased to over $37 million in proceeds that will allow the company to grow its operations. Garth Braun, Blackbird's CEO hailed the new capital as a game changer for its operations. "These financings are transformative for the Company and allow Blackbird to reach the next level in its development. Blackbird has captured an exceptional land base in its core Montney area and with these financings the Company is positioned to deliver additional value to its shareholders from an accelerated drilling program, ability to delineate its extensive liquids rich Montney resource and pursue incremental strategic acquisitions in its core area," Braun said.

Why is Blackbird so aggressively building up its position in and around the Elmworth asset? Why is Blackbird so excited about Elmworth?

That is because Blackbird's Montney acreage at Elmworth is located so close to some very productive wells being drilled by some of its competitors. One of the driving factors creating this profound excitement is that Encana Corp. (ECA) in close proximity to Blackbird's land position has now drilled over 46 wells. Most interesting though is that each subsequent well moving eastward towards Blackbirds land has yielded high condensate gas ratios effectively meaning the wells are proceeding to become even more economic.

The closest well to Blackbird's land that Encana has drilled is only 5 miles away and produced at 3.3 mmcf/d and 204 barrels per million feet of gas which is approximately 1,100 boe/d - an extremely economic well with a conceivable payout of less than a year.

Encana's wells are arguably some of the most important in the Upper and Middle Montney area, and with it located just next door to Blackbird's Elmworth project, Blackbird's management is confident that its acreage is energy rich as well in the Upper, Middle and Lower Montney.

Elsewhere, another company called NuVista (NVA.TO) has drilled to the east and south of Blackbird's holdings, and the results are also very promising. The outstanding ratio of liquids to gas is also encouraging. NuVista is producing 2,195 boepd from a single well nearby; the economics on this well are world class.

Blackbird's initial strategy was to acquire land in a strategic and deliberate way, building up acreage in a region that holds great potential for oil and gas production. According to the company, it feels that it has succeeded in this phase. With recent land acquisitions nearby from other companies fetching around $4,500 per acre, or $2.9 million per section, Blackbird's assets look more valuable than the market is currently giving them credit for.

Nevertheless, Blackbird's stock has skyrocketed. Since the beginning of the year, shares are up by over 500%. A large part of that is because companies have drilled near to Blackbird's acreage, each one providing more information about the bounty that lies beneath.

The next phase will be to begin drilling, and with the cash needed in hand, Blackbird is gearing up to do just that. In the initial drilling stage, Blackbird aims to delineate the extent of the upper and lower boundaries of hydrocarbons in the Montney Shale. After it completes a test well it can gather data on the flow rates and move on from there.

One thing that is extremely evident with Blackbird, is the management's tireless pursuit to proactively address the challenges that seem to constantly impede the progress of oil and gas companies. With Blackbirds latest news release on September 25, 2014, it showed the market that is has entered into an Memorandum of Understanding which will proceed to a definitive agreement next year with a private, well financed midstream company to develop a gathering system, pipeline and facilities for the processing of Blackbird's and other industry players resources.

A read through of the announcement said that it was committed to supply the facilities with 20 mmcf/d of gas. This extrapolated would mean that Blackbird is expecting to produce approximately 3,333 boe/d of gas - and with the high liquids rich content in the area being greater than 100 bbls/mmcf of gas - Blackbird could exit 2015 with over 5,000 boe/d (3,333 boe/d gas; 2,000 bbls/d of oil/condensate/ngls) to 7,333 boe/d.

By all indications, Blackbird is sitting on some energy-rich acreage. With Drilling and Geological risk greatly removed and a plethora of catalysts to come in the next 12 months it should be without a doubt an exciting ride.

By. James Burgess of Oilprice.com

SOURCE: Oilprice.com


By dquinton

Posted: Wednesday Sep 3 10:24:34AM 2014

Comments in Canaccord's Morning Coffee report: 

Blackbird Energy* (BBI : TSX-V : $0.39), Net Change: 0.07, % Change: 20.31%, Volume: 8,525,486

Taking flight. Shares of Blackbird Energy jumped after the company announced that through a series of land acquisitions it has

acquired, and entered into an initial agreement to acquire, 85.0 gross (85.0 net) sections (54,400 net acres) of Montney

prospective land of which 8.0 gross (8.0 net) sections (5,120 net acres) are contiguous with BBI's existing Elmworth Montney

project, bringing its total contiguous land block in Elmworth to 36.0 gross (36.0 net) sections (23,040 net acres). Management

highlighted that upon closing of this most recent deal, BBI's total Montney prospective land position will stand at 117.0 gross

(117.0 net) sections (74,880 net acres). The effective date of this acquisition is September 1, 2014 with an anticipated closing

date of September 30, 2014. All acquisitions have been, or will be funded from existing cash on hand. BBI is an emerging

exploration and production company focused on the highly prospective liquids rich Montney natural gas resource in Alberta.

The company's core holdings are in close proximity to NuVista (NVA), Encana (ECA) and Shell (RDS.A).


By Bobwins

Posted: Tuesday Sep 2 8:51:38AM 2014

BBI.v +.08 to C$.40

 

This Little Known Canadian Oil Company Is Poised For Immense Growth

Accesswire 
 
 

 

Micro Cap no More – How a little known oil and gas company has put together a project with tremendous upside in the Canadian Montney Play in Alberta, Canada.

CANADA / ACCESSWIRE / September 2, 2014 / Canada is already known for its vast reserves of oil. The U.S. Energy Information Administration estimates that Canada is sitting on 173 billion barrels of oil, the third largest reserve in the world.

What is less known internationally though is that Canada also contains enormous reserves of natural gas – much of it located in the western provinces of British Columbia and Alberta.

One notable formation is the Montney, a formation that spans the border between British Columbia and Alberta in western Canada. This formation holds an estimated 450 trillion cubic feet of natural gas, which is equivalent to 145 years of supply given today’s consumption levels in Canada – making this one of the largest shale basins in the world.

While this resource is less known to the broader public, oil and gas companies have been scrambling to get their hands on prime acreage in the basin. Large companies such as Encana (ECA)Exxon (XOMand Royal Dutch Shell (RDS-Bhave done just that and are now producing oil and gas in the region. This has led to a substantial increase in land prices in the region with individual sections of land (640 acres) now selling for approximately $3 million. The plan to export natural gas from Canada’s west coast through LNG facilities is adding even more fuel to the interest surrounding the resource in the Montney.

Amongst all this exciting industry activity, one tiny, intriguing company has been flying below the radar, snapping up prime real estate and positioning itself for immense growth in the Montney.Blackbird Energy Inc. (BBI.V), a small oil and gas explorer, is a fraction of the size of its much larger neighbors however has shown immense foresight and prowess in picking out highly promising acreage.

James Burgess of OilPrice wrote about Blackbird earlier this year after it acquired Pennant Energy, stating at the time that the company showed potential as a high-risk, high-reward bet because of some of its smart land acquisition decisions. Since then, it stock price has skyrocketed by over 500%.

Now, neither Burgess nor OilPrice knew that the stock price was going to take off in the way that it did, however due to the reasons Burgess laid out, Blackbird is succeeding on its strategy. It is for this reason that Blackbird should be on the radar for all investors out there.

Blackbird is not there yet on its strategy to become the "next great junior" producer in the Montney, however it is preceding strongly towards this goal. Initially, Blackbird set out to acquire prospective land before other industry leaders could do so, allowing it to pick up acreage at a low cost – this ability was aided by its size and nimbleness. This strategy may seem obvious, but Blackbird took a very deliberative approach to acquire land in areas that are prospective for highly liquids rich natural gas and oil production.

There are reasons the company is optimistic and it comes down to simple geology. Just to the west of Blackbird’s 100% working interest Elmworth project is a prolific well owned by Encana, one of the largest operators in the Montney formation. The well produces an astounding 22.5 mmcf/d (million cubic feet of gas per day) however what is even more exciting is that it produce over 97 barrels of liquids per mmcf of natural gas for an equivalent 5,900 barrels of oil equivalent per day (boepd). A little further south Encana has another well that is producing 1,100 boepd.

It is not just Encana in the region that is producing incredible results, NuVista Energy (TSE:NVA) an intermediate oil and gas exploration company (market cap: $1.58 billion) is producing from several locations nearby as well with recent wells in proximity producing 2,195 boepd and another well producing in excess of 128 bbls/mmcf of liquids.

The immensely successful production of oil and gas in this area of the Montney, surrounding Blackbird’s land, has caused things to heat up dramatically. Intriguingly, NuVista just spent $35 miliion to acquire 12 sections (7,680 acres) directly west of Blackbird’s Elmworth land position (2 miles away). This purchase was done on metrics of just over $4,500 per acre – much higher than the market rate not long ago of just over $3,000 per acre which was a common occurrence earlier in the year.

In light of those lease figures, Blackbird’s announcement that it has put together 36 contiguous sections (over 23,000 acres) in Elmworth demonstrates the success of the company’s strategy to date. It has very strategically timed its land acquisition to the point that a tiny company now owns one of the larger contiguous acreages in the prospective liquids rich area of the Montney basin.

Drilling patterns also add further evidence and affirmation to the promise of Blackbird’s acreage. As time has passed, industry leaders have drilled significantly more wells in close proximity to Blackbird, the most prolific of these wells have occurred as the wells have moved closer to Blackbird’s Elmworth position.

Adding even more excitement to the Blackbird story is that recent drilling by the industry leaders in the area has begun to indicate that the Montney formation is more liquid rich as it moves to east. As wells are drilled closer to Blackbird’s lands the condensate to gas ratio – the ratio of petroleum liquids to gas – has continued to increase. The more liquid rich the wells are, the better the potential economics. This means that Blackbird could see a quicker payback, allowing them to redeploy funds to drill more wells elsewhere.

In order to finance the drilling of its Elmworth land, Blackbird has agreed to sell its 50% working interest in its non-core Bigstone project, which will earn it $8.8 million. After the sale is completed, Blackbird will have over $10 million in cash available which is exceptionally impressive given that just over six months its entire market was under this amount.

Blackbird’s executives have done a remarkable job de-risking its assets. By that, I mean that the leadership has demonstrated a thoughtful and patient approach to building up acreage in a region that has the proven ability to produce significant volumes of oil and gas. The production levels of Blackbird’s competitors, in acreage to the west and southwest in natural gas liquids and crude oil, has Blackbird confident that it can successfully explore and develop their Elmworth Montney assets.

Even more impressive is that Blackbird has now added an additional 77 sections of land (49,280 acres) of Montney prospective land to its portfolio of assets showing to the market it is not content with where it stands today. This company is aggressively pursuing growth through both land acquisitions and drilling.

This all creates a unique opportunity for investors – whereby they can participate in the growth of company that won’t let off the gas pedal as it pursues its goal of truly being the next great Montney producer. Over the last seven months the company has been rewarded through its share price for its diligence and although Blackbird’s stock price has rocketed over the course of 2014, things seem to just be getting started for this company.

By. Nick Cunningham of Oilprice.com


By dquinton

Posted: Tuesday Sep 2 7:41:05AM 2014

Press release today and another artcile by OilPrice:   http://oilprice.com/Finance/investing-and-trading-reports/This-Little-Known-Canadian-Oil-Company-Is-Poised-For-Immense-Growth.html

 

NEWS RELEASE

 

BLACKBIRD ENERGY INC. INCREASES TOTAL MONTNEY ACREAGE BY 366% TO 117 NET SECTIONS (74,880 NET ACRES)

 

 

September 2, 2014 – Calgary, Alberta (TSX-V: BBI) Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce that through a series of land acquisitions it has acquired, and entered into an initial agreement to acquire, 85.0 gross (85.0 net) sections (54,400 net acres) of Montney prospective land of which 8.0 gross (8.0 net) sections (5,120 net acres) are contiguous with Blackbird’s existing Elmworth Montney project, bringing its total contiguous land block in Elmworth to 36.0 gross (36.0 net) sections (23,040 net acres).

 

The remaining 77.0 gross (77.0 net) sections (49,280 net acres) of this Montney prospective land acquisition is in East Wapiti which is located Northeast of Elmworth. Blackbird has completed an extensive geological review and Blackbird’s management is excited by the prospects and additional value that the land position presents. Upon closing, Blackbird’s total Montney prospective land position will stand at 117.0 gross (117.0 net) sections (74,880 net acres). 81.0 gross (81.0 net) sections of the land to be acquired are subject to customary industry closing conditions, including execution of a definitive purchase and sale agreement. The effective date of this acquisition is September 1, 2014 with an anticipated closing date of September 30, 2014. All acquisitions have been, or will be funded from existing cash on hand.

 

Blackbird is also pleased to announce that Mr. Craig Wiebe will be joining the Blackbird team as a consulting geologist. Mr. Wiebe is a Professional Geologist with over 20 years exploration and development experience, the majority being with unconventional resource plays. He was responsible for establishing a dominant position in a multi TCF gas play for a major oil and gas exploration and production company, as well as cofounding a successful startup company that was one of the first to develop the Montney with horizontal multi-stage fracs. Mr. Wiebe has extensive knowledge of the Montney throughout B.C. and Alberta and also brings considerable operational expertise, having been directly involved with drilling several hundred horizontal wells.

Blackbird has granted an aggregate of 1,100,000 incentive stock options to certain employees and consultants. The options are exercisable at a price of $0.32 per share and will expire on September 2, 2019. The option grant is subject to TSX Venture Exchange acceptance.

About Blackbird

Blackbird Energy Inc. is an emerging oil and gas exploration company focused on the liquids-rich Montney fairway. 

For more information please visit the company’s website and view the corporate presentation at www.blackbirdenergyinc.com

On behalf of the board of
BLACKBIRD ENERGY INC.

Per:      “Garth Braun” 

Garth Braun
Chief Executive Officer and Director

 

For further information contact:

 

Blackbird Energy Inc.

Garth Braun

President and CEO

(587) 538-0383

 

Blackbird Energy Inc.

Joshua Mann

Vice President, Business Development

(403) 390-2144

www.blackbirdenergyinc.com

 

Brisco Capital Partners Corp.

Scott Koyich

(403) 619-2200

skoyich@briscocapital.com

 

Disclaimer for Forward-Looking Information 

 

This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements") relating to the acquisition of additional land positions in the Montney (the “Acquisitions”). 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 and are not guarantees of future performance of the Company.  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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with oil and gas exploration, development and production including drilling risks, (3) the price of and demand for oil and gas and their effect on the economics of oil and gas exploration, (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, (8) the Acquisitions may not be completed for a number of reasons, and (9) other factors beyond the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward-looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.

 

 

 

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.  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 accuracy of this release.

 


By dquinton

Posted: Tuesday Jul 15 7:07:56AM 2014

News Release

Blackbird Energy Inc. Announces Farmout Agreement at its Mantario Oil
Project and Operational Update for its Elmworth Montney Acreage


July 15, 2014 – Calgary, Alberta (TSX-V: BBI) Blackbird Energy Inc.
("Blackbird" or the "Company") is very pleased to
announce that is has entered into a Farmout Agreement (the “Agreement”) with
a private oil and gas investment company (“PrivateCo”) to drill the first
two horizontal wells at Blackbird’s Mantario Oil Project (the “Project”).
Blackbird also is pleased to give an update on its operations pertaining to
its Elmworth Montney Acreage.

Mantario Farm Out Agreement

Under the terms of the Agreement, PrivateCo will pay an aggregate of
approximately $1,600,000, or 100% of the costs to drill, complete and equip
two horizontal wells with a minimum of 600 metres of horizontal length, in
order to earn a 50.0% working interest in the Project. There is no payout
being offered with respect to this agreement.
In addition to the capital commitments noted above, the Agreement also
provides for the cash payment by PrivateCo of an aggregate of approximately
$200,000 for land acquisition costs and data incurred by Blackbird in
respect of the subject lands. Blackbird will be the operator for the
project.

Blackbird and PrivateCo expect to commence drilling operations at the
beginning of Q4 2014 subject to rig availability. Garth Braun, CEO of
Blackbird noted “We are very pleased to be bringing in a financial partner
to our Mantario Oil Project that will not only accelerate the development of
our oil discovery in Saskatchewan but will also allow Blackbird to add
further focus to the development of its Montney acreage at Elmworth.”

Elmworth Montney Update

In the Elmworth area Blackbird has a total of 31 sections (19,840 acres)
of Montney rights (27 contiguous sections). Blackbird has surveyed its first
surface location that will be used to target the upper and middle Montney
formation. Blackbird is currently in the process of licensing its first well
targeting the upper Montney.


About Blackbird

Blackbird Energy Inc. is a Western Canadian based company that explores,
develops and produces oil and natural gas in Western Canada. The Company is
managed by a proven technical team. Blackbird trades on the TSX Venture
Exchange under the symbol BBI.

Blackbird’s team is focused on originating new high quality oil and
liquids rich gas projects in NW Alberta and Saskatchewan.

For more information please visit the company’s website and view the
corporate presentation at www.blackbirdenergyinc.com

On behalf of the board of

BLACKBIRD ENERGY INC.
Per: “Garth Braun”
Garth Braun
Chief Executive Officer and Director

For further information contact:

Blackbird Energy Inc.
Garth Braun
President and CEO
(587) 538-0383

Blackbird Energy Inc.
Joshua Mann
Vice President, Business Development
(403) 390-2144
www.blackbirdenergyinc.com

Brisco Capital Partners Corp.
Katrin Tosine
Director of Investor Relations
(647) 388-4984
kat@briscocapital.com

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE
CONTENTS OF THIS PRESS RELEASE. 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 ACCURACY OF
THIS RELEASE.


By Bobwins

Posted: Monday May 5 7:33:11AM 2014

BBI.v  -.005 to C$.215   Wow, almost another double since my last post in March.  I had lost hope since the drilling at Bigstone missed.  I have some private placement shares that I should deposit.  We are back to the prices that I bought at long ago.  This new acreage must be good.  


By Bobwins

Posted: Friday Mar 7 11:08:28AM 2014

BBI.v  +.025 to C$.12   3.4 million shares traded today!!!  Wow!  

 

Don't know what is driving this volume and price appreciation.  Doubled in a few trading days.  

 

 


By Josh_Kier

Posted: Wednesday Feb 26 12:39:50PM 2014

article link: http://oilprice.com/Finance/investing-and-trading-reports/Small-Companies-Poised-to-Ride-Canadian-Natural-Gas-Wave.html

 

Small Companies Poised to Ride Canadian Natural Gas Wave

By James Burgess | Wed, 19 February 2014

It wasn’t too long ago that Federal Reserve Chairman Alan Greenspan issued a warning about the shortage of natural gas in the United States. “Today's tight natural gas markets have been a long time in coming, and distant futures prices suggest that we are not apt to return to earlier periods of relative abundance and low prices anytime soon,” he said in 2003. Yet, only a few short years later, savvy drillers found ways to unlock a flood of shale gas. Now the U.S. is trying to figure out what to do with the abundance, and companies are racing to line up export permits to send LNG to Asia.

That story is well known. What is less known, but equally momentous, is a similar shale gas revolution unfolding in Canada, albeit to a lesser degree. Several years ago Canada had plans for seven LNG import terminals in order to satisfy domestic demand. Shale gas production has upended that equation, and Canadian companies scrapped plans for all of those terminals. Now, Canada wants to build export terminals to sell its gas overseas.

Of particular importance is the Montney Formation in Alberta and British Columbia. Not well known – particularly outside of Canada – the Montney Formation rivals the Marcellus Shale in the sheer size of its natural gas reserves. The Montney Formation may hold somewhere between 250 and 350 trillion cubic feet (tcf) of natural gas, compared to the Marcellus Shale, which according to estimates has between 225 and 520 tcf.

And the Kitimat LNG project on British Columbia’s west coast will provide an outlet for shale gas from the region. Originally intended to be an import facility, it will be turned around for export through a joint venture between Chevron Canada and Apache Canada. This will allow Alberta and B.C. shale producers to find new markets in energy hungry Asian countries like South Korea, China, and Japan.

There are several ways to play this trend for investors, but I like finding the small companies with huge upsides. By that I mean low-cost operators, positioned in resource-rich areas, with strong markets nearby. To be sure, these small companies are risky, but they fly below the radar and precisely because of their small size, there is enormous room to grow.

One high-risk high-reward company is Blackbird Energy Inc. (TSXV: BBI.V), which just announced its purchase of Pennant Energy. Blackbird is a nano-cap ($9.45 million market capitalization) stock that trades on TSX-Venture. It is a small oil and gas company in Alberta and Saskatchewan, which are the two largest oil and gas producers out of all of Canada’s provinces, combining for 90% of the country’s oil output.

It has produced a small amount of oil from the few wells it has drilled, but it has snapped up acreage in the right areas. For its fiscal year 2013, Blackbird produced a mixture of natural gas, natural gas liquids, and crude oil for a total of around 160 barrels of oil equivalent per day. The company’s management says that it hopes to drill successful wells, and replicate and scale them. This, they argue, will allow them to become the next “great junior producer.”

There are several reasons why I like this company:

1.    It just made a smart acquisition. Blackbird Energy announced on February 18, 2014 that it would acquire the remaining shares of Pennant Energy Inc., with the consolidated company retaining Blackbird’s name. The acquisition of Pennant offers complementary assets to Blackbird’s portfolio and allows the company to achieve some economies of scale. The combined Blackbird will merge the two companies’ stakes in the Bigstone Montney Project, a natural gas and liquids rich play in northwest Alberta. Montney is Blackbird’s bread and butter; its highest producing asset and a tract it thinks has huge potential (more on that below). The consolidated company of Blackbird and Pennant will now own 50% of the project, as opposed to the separate companies each operating their own 25% stake. The story is similar for its Mantario Oil Project, located in central Saskatchewan. Last November, Blackbird successfully struck some oil in the Mantario. It is now producing over 20 barrels of oil per day. Building on that initial success, BlackBird hopes to go bigger. It plans on drilling its first horizontal well in the Mantario project in the second quarter of 2014, at a cost of less than $1 million. Brining Pennant’s holdings on board gives Blackbird a 100% stake in the project.

2.    It’s holdings in the Montney Formation. It right now produces more than 60 barrels per day, with plenty of room to grow. The play’s decline rates are flatter than other comparable shales, with high estimated recoveries. It is also rich in natural gas liquids, which is more lucrative than dry gas. The Montney Formation is going to be a big story for years to come, and Blackbird seems to be in a good position here. Management is optimistic that it can parlay its success from this project into further growth.

3.    Blackbird’s neighbors have had great results. Blackbird has holdings in an area that has proven to be fertile. It owns seven parcels near Delphi Energy, a similar company operating in a similar environment. Delphi Energy has drilled several wells that are producing around 1,300 barrels of oil equivalent each. These wells have net present values of $25-$26 million. Based on the good numbers from Delphi Energy is producing nearby, there is no reason to think that Blackbird can’t see similar results.

4.    Similar companies have exploded. Blackbird is not paving new ground here; it is following in the footsteps of other companies. Tiny drillers are risky, but when they blow up, they blow up big. As mentioned above, Delphi Energy (TSE: DEE) is a similar company to Blackbird. It operates in Alberta and its stock traded as low as $1 per share in early 2013. Now it’s up to $2.50, a 250% increase. Kelt Exploration (TSE: KEL), which operates in B.C. and Alberta is another example. It traded below $6 per share in the spring of 2013, but is now around $11.50. Rock Energy (TSE: RE), a heavy oil driller in western Canada, trades at $4.40 per share, up from around $1.10 a year ago. Rock’s discovery and successful production from the Mantario play is encouraging for holders of Blackbird stock. Blackbird has similar holdings in the Mantario, and Rock’s success suggests Blackbird has a good chance of doing the same in its Mantario Oil Discovery.

5.    Management has a good strategy. The company’s strategy for “growth through carefully targeted acquisitions,” as it laid out in a press release, makes sense in the case of picking up Pennant. It gives the combined company more production per share and more cash per share than the individual companies had separately. The compatible and complementary holdings of the two companies made their marriage a no-brainer. It also is consistent with the company’s strategy of pursuing internally-generated growth – that is, maintaining a high degree of ownership over operations, and developing projects for long-term value. Blackbird has showed a penchant for successfully drilling wells, producing a small amount of oil (dozens of barrels per day), bringing in some cash from that early production, and redeploying that capital to grow its production portfolio. That’s how you gotta do it as a small player – slow but steady growth, smart acquisitions, efficiency gains, and an appetite for risk, but with some patience.

Blackbird’s future entirely depends, obviously, on its ability to avoid drilling wells that come up dry. As a small company, it has little room for error because the costs of drilling account for a much larger portion of the company’s value than a large oil company. A few wrong decisions and it will be out of business. But based on the results from similar companies operating in the same formations, Blackbird has a better shot than most companies trying to get off the ground. Many of its prospects involve shallow wells with high certainty, and it operates in proven areas that are already producing oil, natural gas, and natural gas liquids. A big question mark hangs over whether or not B.C. will get in the way of the Kitimat LNG export terminal, which would limit the market for gas coming out of the Montney.

The company is still posting negative earnings per share, but is heading in the right direction. Its assets have low decline rates compared to other plays. It operates a lean operation with low overhead. It has some cash flow from the few wells that it has producing. And its recent acquisition of Pennant allows it to achieve greater economies of scale. Small companies always are high-risk, but keep an eye on Blackbird and as it works to become the next “great junior producer.”

By. James Burgess of Oilprice.com


Canadian Small Caps

 
Canadian Small Caps

CLICK HERE to view the presentations from the Spring 2016 Small-Cap Conferences.

We are pleased to publish the PowerPoint presentations from The Small-Cap Conferences that were held in Calgary on March 30, 2016 and in Vancouver on May 3, 2016.

We encourage investors to review the presentations and contact the companies with any further questions.

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