Big Sky Petroleum Corporation: Update on drilling at the Glacier Bakken Project in the Southern Alberta Basin, Montana

Source: Big Sky Petroleum Corporation

Big Sky Petroleum Corporation (TSX: BSP) (formerly Fox Resources Ltd.) is pleased to provide an update on the Company's Glacier Project in NW Montana, USA.

The Company and its two partners, FX Energy (FXEN) and American Eagle Energy (AMZG), have completed drilling and casing a horizontal sidetrack from the group's previously drilled vertical test, of well 14-29, in Toole County, Montana. Good oil and gas shows were noted throughout the drilling of the horizontal section. The approximate 4,100 feet lateral section targeted the Bakken Formation and was cased with a 4.0" liner equipped with 26 stimulation sleeves. A multi-stage fracture stimulation is currently slated for December.

The group has also completed the drilling of the vertical section of the Big Sky Operating 15-13 in Toole County. The 15-13 was cored and logged in three prospective sections of the Bakken Source System with noted visual oil shows in all three sections. The 15-13 has been cased awaiting further drilling and completion operations that will be conducted based on evaluation results and would likely include targeting the most prospective of the multiple pay zones with a horizontal sidetrack in Q1 2012.

Big Sky is working with it partners to determine the next drilling location to advance the Bakken project in the Southwest Cut Bank Sand Unit. The SWCBSU 81-3 in Glacier County was a vertical deepening of an existing well designed to cost effectively evaluate the various prospective zones within the Bakken Source System. The SWCBSU 81-3 strat test well confirmed the presence of oil in the target zones following a small stimulation of multiple zones in the well. Further drilling plans currently being evaluated will likely include a vertical pilot well with a horizontal lateral in the vicinity of the 81-3 and targeting one of the multiple oil-bearing zones in early Q1 2012.

Milton Cox, the Company's Chief Executive Officer commented, "Big Sky's management and technical team are greatly encouraged by the results we have seen. Confirming oil in the Cut Bank field area on the west flank of the Kevin Dome, documenting strong oil shows in the horizontal leg of the 14-29 and the very promising results from the 15-13 wells located on the central portion of the dome further confirms the potential of the Bakken/Three Forks on Big Sky's leasehold. We look forward to significantly advancing the project evaluation on both our Dome and Basin acreage adjacent to the Newfield and Rosetta indicated discoveries. We remain on target to position Big Sky as a major participant in this exciting and rapidly evolving play."


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