LOS ANGELES, July 30, 2015 (GLOBE NEWSWIRE) -- Black Stallion Oil & Gas, Inc. (OTCBB:BLKG) (herein after "Black Stallion", "we", "our" and/or "the Company") is pleased to confirm that it will start to execute a detailed exploration program on the 12,233 Acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.
Over the coming weeks the company will look to hire key industry experts and engage various third-party companies/suppliers in order to evaluate further and gather all possible data needed to advance towards identifying drill targets on the property. A detailed exploration program will be drawn up in the near future.
In 2014, Black Stallion received a report on the 12,233 Acre Woodrow Prospect. The NI 51-101 Report concludes the Woodrow Prospect offers multiple opportunities for potential oil and gas production across multiple potential targets at shallow depths. (The full report can be viewed at http://www.blackstallionoil.com/pdf/Woodrow-Prospect-51-101-Report.pdf )
Black Stallion's CEO, George Drazenovic, commented: "Firstly, we are fortunate to have secured the right to acquire ownership in such a large prospect, particularly in a region with this level of potential for domestic energy development and production. We've taken a prudent approach before commencing the exploration program due to the turbulent markets in late 2014 and the early half of this year. With that, we feel confident that now is time to drive this exciting project forward. Consequently, we plan to be releasing details as the program plans become further defined in the coming weeks."
According to the American Association of Petroleum Geologists (AAPG), the Alberta Basin Bakken, which stretches from northwest Montana into Alberta, is a significant new Bakken Shale oil play. Currently, over 80% of the Alberta Basin Bakken's production has come from 3 large fields that are within roughly 12 to 40 miles of the Woodrow Prospect. As interest has grown in the Alberta Basin Bakken over the past few years, major industry players have reportedly invested in excess of $180 million to acquire land in the fairway's southern region, close to the Woodrow Prospect.
According to industry leaders, what makes the Alberta Bakken attractive is the potential and similarities it shares with the Williston Basin in the prolific Montana-North Dakota Bakken of which has become one of the most significant onshore oil developments in North America in decades.
Located due west of the Williston Basin, the AAPG considers the Alberta Basin Bakken to be an analog to existing Devonian shale oil production. While sharing many characteristics with the Williston Basin, the Alberta Basin Bakken features 20-30' of pay compared to an average of only 10' in the Williston Basin, and lower drilling costs due to shallower burial depths and a different class of rig being required.
The company has also updated its Website and will be adding further information regularly.
FOR ADDITIONAL INFORMATION
Read more about the Woodrow Prospect's geology and targets, and additional information about the Company and its latest press releases at the official Black Stallion website at http://www.blackstallionoil.com.
ABOUT BLACK STALLION OIL & GAS
Black Stallion Oil & Gas, Inc. (OTCBB:BLKG) is a publicly traded, Los Angeles, CA based energy exploration company focused on developing America's abundant shale oil and gas resources. Black Stallion is currently focused on the emerging Alberta Basin Bakken in northwest Montana, which lies due west of, and shares characteristics with, the prolific Williston Basin's estimated 6.7 trillion cubic feet of recoverable natural gas and 7.5 billion barrels of recoverable oil.* Black Stallion has secured the right to acquire 50% ownership in the large 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.
* US Geological Survey (USGS) website, May 2, 2013.
This press release may include certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Black Stallion's current projections and expectations in regard to future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Black Stallion's anticipated business prospects, strategies, new developments, financial performance and similar matters. Black Stallion disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Cautionary Note to U.S. Investors: The United States Securities and Exchange Commission permits US companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this press release, such as "measured," "indicated," and "inferred resources," which the SEC guidelines prohibit US registered companies from including in their filings with the SEC. US investors are urged to consider closely the disclosure in our Form 10-K which may be secured from us, or from our website at http://www.blackstallionoil.com.
CONTACT: ON BEHALF OF THE BOARD OF DIRECTORS,
Black Stallion Oil & Gas, Inc.
George Drazenovic, CEO
633 W. 5th Street
26th Floor
Los Angeles, CA
90071
USA
INVESTOR RELATIONS:
Phone: 713-338-2933
E-mail: ir@blackstallionoil.com
OTCBB: BLKG
