Blackbird Updates on Mather's Prospect Wells in Texas

Blackbird Investments has updated on the status of the re-entry and re-completion operations on two Mather's Prospect wells located in the Thorndike Field, Gray County, Texas.

The Mathers 2-74 and 2A-74 wells were re-entered, perforated and fracture stimulated in gas bearing zones not previously produced from the wells. After the fracture treatment the wells were flowed to clean out frac fluids and produced gas at measured rates of:

  • Mathers #2-74R Well, perforated in the Missouri D formation: 600 MCFD through a 16/64" choke at an average flowing pressure of 400 psi, throughout the 12 hour flow period, conducted on January 8, 2010;
  • Mathers #2A-74R Well, perforated in the Virgilian formation: 350 MCFD through a 16/64" choke at an average flowing pressure of 250 psi, throughout the 6 hour flow period, conducted on January 11, 2010.

The wells produced formation water at fluctuating rates during clean-up operations, which is not uncommon for similar completions in the area. Additional work-over operations are currently underway, subsequent to which production testing will be carried out to establish productive capability of the completed intervals. The Mathers property is a multi-zone prospect and holds the potential for multiple completions within a single wellbore and produced on a commingled basis. Information on test results will be provided as operations progress.

Garth Braun, Blackbird CEO, stated "We are extremely pleased with these results, and the confirmation and validation that this provides for our investment. We believe that this bodes extremely well for further development wells in the Granite Wash."

Blackbird's wholly-owned subsidiary Blackbird Energy LLC ("Blackbird Energy") holds a 75% interest in 3,857 acres of leasehold land located in Gray County, Texas known locally as the "Mathers-Gordon Prospect". 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. In addition, Blackbird plans to actively look for further oil and gas properties for acquisition or potential joint ventures.