BLACKBIRD ENERGY INC. : http://www.blackbirdenergyinc.com/ : QwikReport
Corporate Overview
Blackbird Energy's experienced and driven operating and management team intends to identify, acquire, explore and develop oil and gas properties both in North America and Internationally.
Currently Blackbird's wholly-owned subsidiary Blackbird Energy LLC ("Blackbird Energy") has as of October 23, 2009 acquired a 75% right, title, estate and interest in 3,857 acres of leasehold located in Gray County, Texas known locally as the "Mathers-Gordon Prospect". Blackbird's 3P reserves in the prospect are estimated as set forth in the 51 101 report of 98 MBBL of Oil and 7,081 MMCF of Gas. Blackbird intends to aggressively develop this prospect and has committed to spend a minimum of $2,200,000 US developing the prospect in the next twelve months.
The Mathers-Gordon Prospect is a multi pay oil and gas prospect. Blackbird Energy will be the operator of the prospect and the company has designated Maxwell as sub-operator.
Blackbird plans to actively look for further oil and gas properties for acquisition or potential joint ventures as the company has the capacity to source assets and financing through it's management network.
The principal elements of Blackbird's strategy to maximize stockholder value are as follows:
Drive Growth Through Internally Generated Projects: We expect to generate long-term reserve and production growth predominantly through our drilling activities. We believe our management team's experience and expertise enable us to identify, evaluate and develop new natural gas and oil reservoirs.
Pursue High Potential Projects: Management is focused on acquiring further projects that will provide future long-term drilling inventories.
Reduce Costs and Maximize Operational Control: Our objective is to generate profitable growth and high returns for our stockholders. We expect that our unit cost structure will benefit from economies of scale as we grow, maintaining high percentage operatorship of our reserves and production, and our continuing cost management initiatives.
Pursue Reserve and Leasehold Acquisitions: The current acquisition will play an important role in establishing our asset base. We intend to use our experience and regional expertise to supplement our drill-bit growth strategy with complementary acquisitions. We actively review acquisition opportunities on an ongoing basis.