Blackbird Energy Announces 1,002% Increase in Pipestone Montney 2P Reserves NPV10% to $455 Million and Risked Best Estimate Contingent Resources NPV10% of $437 Million
Blackbird Energy Inc. ("Blackbird" or the "Company") is pleased to announce a 1,002% increase in proved plus probable reserves ("2P") before tax net present value to $455 million, discounted at 10% ("NPV10%"), and a before tax risked best estimate contingent resources NPV10% ("2C") value of $437 million. Blackbird has now booked 11.9% of its net Pipestone / Elmworth acreage on a 2P basis and 21.2% of its net Pipestone / Elmworth Montney acreage on a contingent resources basis.
As a result of the historical developments discussed above, Blackbird engaged its independent reserves evaluators, McDaniel & Associates Consultants Ltd. ("McDaniel"), to perform reserves and contingent resources evaluations effective March 1, 2017 (the "Evaluations").
Highlights from the Evaluations are as follows:
Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the liquids-rich Montney fairway at Pipestone / Elmworth, near Grande Prairie, Alberta.
For more information please view our Corporate Presentation at www.blackbirdenergyinc.com.
SOURCE: Blackbird Energy Inc.
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