Black Hawk Exploration has acquired 2,553 acres of leasehold in Cowley County, Kansas, including ten shut in oil and gas wells. The company did not disclose the purchase price paid. The company plans to drill new wells and recomplete existing wells at the site.
Black Hawk Exploration said that the company has included funds in its 2011 capital budget to recomplete all ten shut in wells. The well will be recompleted in a joint venture with Tiger Oil and Energy, Inc. (TGRO).
Tiger Oil and Energy, Inc. has already contributed $400,000 in capital towards drilling a new well at the Cowley Prospect, and will earn a 40% interest in one of the recompleted wells in exchange for this. Both Black Hawk Exploration and Tiger Oil and Energy, Inc. will have a 50% interest in this new well.
Black Hawk Exploration said that the company will soon release details on its Lithium exploration program at Clayton Valley. The company may also have assay results from its Dun Glen property, where the company is prospecting for gold and silver, next month.
For more information on the company, go to www.black-hawk-exploration.com
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