Blackbird Buys Additional East Flaxcombe Assets

Transaction Type
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Buyers
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Description

Plans to buy through Ruger Energy Inc, its wholly owned subsidiary, certain oil and gas assets in Flaxcombe, Saskatchewan.

Blackbird Energy Inc. (TSXV: BBI) entered into an agreement through its wholly-owned subsidiary, Ruger Energy Inc., to purchase certain oil and gas assets from Blackspur Oil Corp. for C $100,000 in cash.

The East Flaxcombe assets are located near Ruger's current oil production in Flaxcombe, Saskatchewan, and will allow for optimization and operating cost savings. Current production at the East Flaxcombe Project is 10 barrels of oil equivalent per day (70% oil) and the deal metrics are C $10,000/producing day barrel.

The East Flaxcombe is accretive to Blackbird's Flaxcombe Project. East Flaxcombe is comprised of a total of 6,080 acres in West Central Saskatchewan. Blackbird will now have a 100% working interest in the Sparky oil pool with two additional producing wells.

Blackbird Energy Inc. is an independent energy company engaged in the acquisition, exploration, and development of crude oil and natural gas assets in North America. The company is based in Vancouver, B.C.