The Report is based on the author's review of technical data including geology, petrophysics logs and reservoir parameters. The resources described in the Report and in this release are "undiscovered resources" as defined in the COGEH. Undiscovered resources are defined as those quantities of oil and gas estimates on a given date to be contained in accumulations yet to be discovered. The estimates of the potentially recoverable portions of undiscovered resources are classified as prospective resources. Prospective resources are defined as those quantities of oil and gas estimated on a given date to be potentially recoverable from undiscovered accumulations technically viable and economic to recover. Prospective resources have both an associated chance of discovery and a chance of development. Not all exploration projects will result in discoveries. In accordance with NI 51-101, the Company declares that there is no certainty that any portion of the resources will be discovered and that the estimated values herein do not represent fair market value. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
There are numerous uncertainties inherent in estimating resources, including many factors beyond the Company's control, and no assurance can be given that the indicated level of resources or recovery will be realized. In general, estimates of recoverable resources are based upon a number of factors and assumptions made as of the date on which the resource estimates were determined, such as geological and engineering estimates which have inherent uncertainties and the assumed effect of regulation by governmental agencies. All such estimates are, to some degree, uncertain, and classifications of resources are only attempts to define the degree of uncertainty involved.
About Big Sky
Big Sky Petroleum Corp. (TSX VENTURE: BSP) is a Canadian oil and gas exploration and production company with U.S. operations in Texas and Montana. The Company is currently focused on the development of unconventional tight oil reservoirs in the Southern Midland Basin of West Texas, and the Southern Alberta Basin of Montana. The Company uses the latest technology and streamlined operations for a scalable and repeatable business model based on precise execution, while still emphasizing growth.
Sam Nastat, President
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Big Sky Petroleum Corporation
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