Blackbird Energy Inc. says that its wholly-owned subsidiary, Ruger Energy Inc. (Ruger), has entered into an agreement to purchase certain oil and gas assets from Blackspur Oil Corp. for total cash consideration of $100,000.

The assets (the "East Flaxcombe") are located near Ruger's current oil production in Flaxcombe, Saskatchewan and will allow for optimization and operating cost savings. Current production at the East Flaxcombe Project is 10 boepd (70% oil) and the deal metrics are $10,000/producing day barrel.

The East Flaxcombe is accretive to Blackbird's Flaxcombe Project. East Flaxcombe is comprised of a total of 6,080 acres in West Central Saskatchewan. Blackbird will now have a 100% working interest in the Sparky oil pool with two additional producing wells.

Tags: Blackbird Energy