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Blackbird Energy enters into farm out agreement at its Mantario oil project


Published Jul 16, 2014
Blackbird Energy

Blackbird Energy Inc. has entered into a Farmout Agreement with a private oil and gas investment company (PrivateCo) to drill the first two horizontal wells at Blackbird's Mantario Oil Project.

Under the terms of the Agreement, PrivateCo will pay an aggregate of approximately $1,600,000, or 100% of the costs to drill, complete and equip two horizontal wells with a minimum of 600 metres of horizontal length, in order to earn a 50.0% working interest in the Project. There is no payout being offered with respect to this agreement.

Tags: Blackbird Energy




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