Guardian Exploration buys additional Alberta Bakken acreage

Publicly traded Canadian oil and gas exploration company Guardian Exploration Inc. has purchased an additional 6,025 acres of prospective Alberta Bakken Shale lands in townships directly adjacent to the Blackfeet Nation in Glacier and Pondera County, Montana. The acreage increases Guardian's holdings in the area to approximately 9,000 acres.

The majority of Guardian's lands on the Reservation are held by production from the Cut Bank formation, where the company currently produces 35 barrels of oil per day.

Using information provided by the Montana Board of Oil and Gas, a total of 16 wells have been spud in the past 18 months on the Blackfeet Reservation targeting formations deeper than 4,000 feet, with another 12 wells permitted to be drilled.

Graydon Kowal, President and CEO noted, "Guardian has been watching this play develop over the past several years and now has seen enough evidence from the other operators in the area and our own geological review to be confident that the Company's current exploration focus is in Montana targeting the Alberta Bakken."

Other companies in the area include Newfield Exploration, Rosetta Resources, and Anschutz Exploration.

The company also appointed Abbas Mahdi to the board of directors. Mahdi is a geologist with 13 years of experience in production enhancement and optimizations with a large international oil and gas service and engineering company. Mahdi specializes in the areas of fracturing and completions of unconventional resources and has a successful track record in strategic and operational management. 

Source:  Guardian Exploration Inc.



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