These lands are proximal to a producing field, which previously has recovered over 25 million barrels of oil equivalent (boe) and is presently producing 4,500 boe/day from 20 wells.
An independent prospective resources study was performed in February 2009. The valuation study demonstrates that these lands may have the capacity to support over 24 producing wells and estimates that these lands may have around 8.3 million gross barrels of oil equivalent.
Through a focused seismic study Black Goose has identified six drilling locations to support Blackbird’s initial drill program. Black Goose has surveyed the first well site and well commencement documents are ready for submission.
The company’s senior management is presently evaluating financing possibilities with the objective to conclude the acquisitions of these lands, start the drilling program as well as the evaluation of other acquisition opportunities.
