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Sunday, November 27, 2022

Looking at WSR’s Black Stallion Oil and Gas Inc(OTCMKTS:BLKG)

Black Stallion Oil and Gas Inc(OTCMKTS:BLKG) has come down a long way since the $2.39 price tag the stock commanded last year at the height of the promotion.

BLKG was a multi-million dollar promotion from the WallStreetReport with a landing page at wallstreetreport.org/wr1/wrm138019295 with a $50,000 disclosed budget that touts ”How ONE STOCK with a $2.1 BILLION Oil Prize could turn $10,000 into $140,000. The US Oil secret and how you can profit from it.

Black Stallion Oil and Gas Inc(OTCMKTS:BLKG) is an energy exploration Company focused on developing America’s abundant shale oil and gas resources. Black Stallion is currently focused on the emerging Alberta Basin Bakken in northwest Montana, which lies due west of, and shares characteristics with, the prolific Williston Basin’s estimated 6.7 trillion cubic feet of recoverable natural gas and 7.5 billion barrels of recoverable oil.* Black Stallion has secured the right to acquire 50% ownership in the large 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.

Back in July the Company confirmed that it will start to execute a detailed exploration program on the 12,233 Acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway.

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.

Then in September BLKG announced it is engaged Calgary-based Sproule Associates Limited in connection with the Company commencing a four-phase work program on its 12,233-acre Woodrow Prospect in northwest Montana, within the Alberta Basin Bakken fairway, due west of the Williston Basin.

Black Stallion entered into the Master Services Consulting Agreement with Sproule on September 16, 2015, enabling Sproule’s team of experienced geologists, geophysicists, petrophysicists and engineers to begin work on the program immediately. The agreement includes estimation of prospective resources within the Woodrow Prospect, and technical advisory services relating to the Company’s four-phase work program.

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Earlier this year BLKG announced the appointment of Geologist Michael L. Pinnell, who began his career with Exxon 45 years ago, to the Company’s Team as VP Exploration. The Company also announces the appointment of Geologists Irving J. Prentice and Case Lewis to Black Stallion’s Advisory Board.

In October BLKG announced it has acquired the remaining 50% Working Interest (WI) in the 12,233-acre Woodrow Prospect in Teton county, northwest Montana, within the Alberta Basin Bakken fairway. The Company is pleased to confirm it now holds a 100% WI in the prospect.

On November 18 BLKG announced Calgary-based Sproule Associates Limited has completed Phase I of a four-phase work program on the Company’s 12,233-acre Woodrow Prospect in northwest Montana, within the Alberta Basin Bakken fairway, due west of the Williston Basin.

Producing wells to the North and East were identified at each of the five main reservoir horizons: Swift, Madison (Sun River Dolomite), Bakken, Nisku and Duperow. Sproule concluded the overall structural location is favorable for hydrocarbons to migrate updip onto the regional high, and recommended proceeding with Phase II of the Work Program.

Black Stallion received Sproule’s Phase I Data Compilation Report on November 17, 2015. The report outlined Sproule’s initial regional review of prospect, including a regional compilation and synthesis of information on the study area (see further below for complete list of items reviewed). Sproule integrated all available public domain data into a 3D visualization environment and data base to improve the spatial understanding of well, seismic, oil and gas tests and producing fields.

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Currently trading at an $9 million market valuation BLKG has minimal assets, no revenues to date and fast rising short term debt. The stock being liquidated into this promotion campaign are likely the 19,872,000 shares (as adjusted for the 60 for 1 forward split from 2013) acquired for just $49,680 by a group of Investors in September 2012 according to filings. Short term BLKG could be good for another pop, long term the Company lacks any fundamentals and will surely collapse big from current levels once the promo dollars run dry. We will be updating on BLKG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BLKG.

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Disclosure: we hold no position in BLKG either long or short and we have not been compensated for this article.

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