GREY:TBTEF - Post by User
Post by
bshort92on Jan 28, 2013 11:42pm
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Post# 20903367
TBE sells some Viking turf
TBE sells some Viking turf VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/16/13 -- Blackbird Energy Inc. (TSX VENTURE: BBI) ("Blackbird" or the "Company") is pleased to announce that its recently acquired wholly-owned subsidiary, Ruger Energy Inc. ("Ruger"), has purchased certain oil and gas assets from Twin Butte Energy Inc. for total cash consideration of $540,000 (the "Acquisition").
The assets (the "Flaxcombe Project") are located near Ruger's current oil production and water disposal facilities in the Alsask area (the "Alsask Project") and will allow for optimization and operating cost savings. Based on a McDaniels and Associates reserve estimate of 126,000 boe (P+P) deal metrics are $4.29/boe and $19,286/producing day barrel. Current production at the Flaxcombe Project is 28 boepd.