Over the coming weeks the company will look to hire key industry experts and engage various third-party companies/suppliers in order to evaluate further and gather all possible data needed to advance towards identifying drill targets on the property. A detailed exploration program will be drawn up in the near future.
In 2014, Black Stallion received a report on the 12,233 Acre Woodrow Prospect. The NI 51-101 Report concludes the Woodrow Prospect offers multiple opportunities for potential oil and gas production across multiple potential targets at shallow depths. (The full report can be viewed at http://www.blackstallionoil.com/pdf/Woodrow-Prospect-51-101-Report.pdf )
Black Stallion’s CEO, George Drazenovic, commented: "Firstly, we are fortunate to have secured the right to acquire ownership in such a large prospect, particularly in a region with this level of potential for domestic energy development and production. We’ve taken a prudent approach before commencing the exploration program due to the turbulent markets in late 2014 and the early half of this year. With that, we feel confident that now is time to drive this exciting project forward. Consequently, we plan to be releasing details as the program plans become further defined in the coming weeks."
According to the American Association of Petroleum Geologists (AAPG), the Alberta Basin Bakken, which stretches from northwest Montana into Alberta, is a significant new Bakken Shale oil play. Currently, over 80% of the Alberta Basin Bakken’s production has come from 3 large fields that are within roughly 12 to 40 miles of the Woodrow Prospect. As interest has grown in the Alberta Basin Bakken over the past few years, major industry players have reportedly invested in excess of $180 million to acquire land in the fairway’s southern region, close to the Woodrow Prospect.
According to industry leaders, what makes the Alberta Bakken attractive is the potential and similarities it shares with the Williston Basin in the prolific Montana-North Dakota Bakken of which has become one of the most significant onshore oil developments in North America in decades.
Located due west of the Williston Basin, the AAPG considers the Alberta Basin Bakken to be an analog to existing Devonian shale oil production. While sharing many characteristics with the Williston Basin, the Alberta Basin Bakken features 20-30′ of pay compared to an average of only 10′ in the Williston Basin, and lower drilling costs due to shallower burial depths and a different class of rig being required.
The company has also updated its Website and will be adding further information regularly.
