Blackdog Resources Ltd. provide a comprehensive update on its 2012 winter drilling and recompletion program. In total, the Company did work on 7 wells during the quarter before an early breakup season commenced which has temporarily limited work on some of its ongoing projects.
The Company repaired a pump on a shut-in well (the "Whitebear Well") and returned the Whitebear Well to full production in February, 2012. The Whitebear Well has been shut-in for 18 months and is now back to its historical production levels. The aggregate cost to restart the Whitebear Well was under $15,000. Originally the Whitebear Well repairs were scheduled for completion in the summer of 2011 but were delayed due to severe flooding in the area for several months and again by the lack of available service equipment when the ground finally froze. The Company also intends to reactivate production from two more wells at Whitebear during the summer of 2012. The Company has a 100% Working Interest ("W.I.") in all three of these wells at Whitebear.