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BLR Blackhawk Resource Corp

0.05
0.00 (0.00%)
19 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Blackhawk Resource Corp TSXV:BLR TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.05 0.05 0.06 0 01:00:00

Blackhawk Resource Corp. Provides Operational Update

21/09/2010 2:15pm

Marketwired Canada


Blackhawk Resource Corp. ("Blackhawk" or the "Corporation") (TSX VENTURE:BLR) is
pleased to announce that it's daily average production has now reached a total
of 225 BOE per day, with a ratio of 85% oil and 15% gas. 


Blackhawk's 100% owned water disposal facility is currently exceeding expected
rates as a result of improved oil cuts. Average daily production from 3
re-activated shut-in wells is approximately 125 barrels per day of heavy oil.
Installation of a free water knock out is planned to further increase the
productive capabilities in the area. Blackhawk has also identified offset
development drilling locations. 


Construction of the BLR Bodo #1 Colony well tie-in was completed and placed on
production in August 2010. Line pressure is currently restricting production to
15 BOE per day. Recent well pressure and fluid level data indicate the well will
require a down hole pump to assist in the recovery of the oil. 


Blackhawk's 100% owned BLR Bodo #2 Sparky horizontal well flowed at an average
rate of 150 barrels of oil per day upon initial production, but has been
restricted to approximately 65 barrels a day of medium weight oil due to
solution gas issues. Blackhawk has begun installation of a gas handling system
that will allow the corporation to increase production, once operational. 


All barrels of oil equivalent ("BOE") conversions in this release are derived by
converting natural gas to oil in the ratio of six thousand cubic feet ("Mcf") of
gas to one barrel ("bbl") of oil. A boe conversion ratio of six mcf to one
barrel is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the wellhead.


Statements in this press release may contain forward-looking information
including expectations of future operations, commerciality of any gas
discovered, operating costs, commodity prices, administrative costs, commodity
price risk management activity, acquisitions and dispositions, capital spending,
access to credit facilities, income and oil taxes, regulatory changes, and other
components of cash flow and earnings. The reader is cautioned that assumptions
used in the preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the company. These risks
include, but are not limited to, the risks associated with the oil and gas
industry, commodity prices and exchange rate changes. Industry related risks
could include, but are not limited to, operational risks in exploration,
development and production, delays or changes in plans, risks associated to the
uncertainty of reserve estimates, or reservoir performance, health and safety
risks and the uncertainty of estimates and projections of production, costs and
expenses. The reader is cautioned not to place undue reliance on this
forward-looking information.


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1 Year Blackhawk Resource Corp. Chart

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