Blackbird Energy Inc. Announces Purchase of Additional Oil & Gas Assets Through Its Subsidiary

Jan 16, 2013

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 16, 2013) – 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.

The Flaxcombe Project is accretive to Blackbird’s Alsask Project. The Flaxcombe Project is comprised of a total of 5,041 acres (net 2,393 acres) in West Central Saskatchewan. Blackbird will have 100% working interest in the Sparky oil property with 3 producing oil wells. The Acquisition includes 3D seismic coverage over the complete Sparky oil pool and two development oil well locations have been identified based on the 3D technical review.

http://www.blackbirdenergyinc.com/s/NewsReleases.asp