Blackpool Exploration Ltd. - Update on prior announcements

CALGARY, Sept. 8 /CNW/ - Blackpool Exploration Ltd. (BPX.A: TSX Venture
Exchange) provides the following updates to prior announcements pertaining to
the activities of the Company.

a) Acquisition of C2 Energy Inc:
   -----------------------------
A press release dated March 7, 2005 relevant to the C2 Energy Inc.
acquisition advised that additional data would be forth coming subsequent to
closing. Accordingly the following information is now provided. On May 28th,
2005, Blackpool Exploration Ltd. acquired all of the outstanding shares of a
private company, C2 Energy Inc. In purchasing C2 Blackpool acquired reserves
with values as follows:

<<
                                     Company's Interest in Reserves
                          -----------------------------------------------
                          Crude Oil       Natural Gas        NGL's
                             MBbl            MMcf            MBbl
                            Gross     Net   Gross     Net   Gross     Net

Proved Developed Producing    36      30     645     566       5       3

Proved Developed
 Non-Producing                 4       5     127      99       0       0

Total Proved                  40      35     773     665       5       3

Probable Developed            91      71    1450    1148       7       4

Probable Undeveloped          23      20      10       7       0       0

Total Probable               115      90    1460    1155       7       4

Proved + Probable            155     125    2233    1820      12       8


                                  Net Present Value of Net Production
                                            Income M$
                          -----------------------------------------------
                           Undis-               Discounted
                          counted

                             0%      5%      8%      10%    15%    20%

Proved Developed Producing  4540    4126    3915    3788    3508    3272

Proved Developed
 Non-Producing               871     779     733     706     645     595

Total Proved                5410    4905    4649    4494    4154    3867

Probable Developed          9662    7267    6284    5752    4729    4002

Probable Undeveloped         646     535     482     451     386    334

Total Probable             10308    7802    6766    6204    5115    4336

Proved + Probable          15718   12708   11415   10698    9269    8203


The reserve numbers and values are based on an engineering report dated
January 1st, 2005 prepared by Martin and Brusset, Petroleum Consultants in
accordance with the COGE Handbook. The estimated values disclosed above do not
represent fair market value. The above noted values are before tax and have
been generated using constant pricing and unescalated costs. This constant
price evaluation has been prepared based on the following prices:

Alberta Average Spot Gas                  $7.21/MMBtu
Average Edmonton Posted (40 API) Oil      $51.32/Bbl
Propane at Edmonton                       $40.23/Bbl
Butane at Edmonton                        $47.39/Bbl
Condensate at Edmonton                    $55.08/Bbl

Blackpool estimates that the undeveloped land inventory of 20,200 net
acres acquired in the C2 purchase has a value of approximately $4 million
based on an estimated per acre value of $200. This land value is an estimate
generated by Blackpool staff based on Crown land sales on the Peace River Arch
over the period from January 1, 2002 to present. Blackpool also acquired 100
square miles of three dimensional seismic data and 350 miles of two
dimensional seismic data in completing the acquisition of C2. This seismic has
been assigned a replacement value by Blackpool management of $30,000 per
square mile of three dimensional data and $1,500 per mile of two dimensional
data for a total replacement value of $3.5 million.

b) Private Placement Announced June 29, 2005:
   ------------------------------------------
The following information was filed on Sedar on July 27, 2005 but was
inadvertently not disseminated by Canada Newswire at that time:

Blackpool Exploration Ltd. is pleased to announce that on July 18, 2005
it closed its private placement of 1,800,000 flow-through common shares of the
Company at a price of $0.55 per share for total proceeds of $990,000.00.
Attached to each flow-through share is a warrant entitling the holder to
purchase one additional share, also issuable on a flow-through basis, at a
price of $0.75 per share on or before January 18, 2007. The purchaser of the
flow-through shares and warrants is at arms-length to the Company and this
private placement will not result in a change in control of the Company. A
hold period of 4 months will apply to the shares issued. No commissions were
paid under this private placement.

c) Proposed Private Placement:
   ---------------------------
In announcements dated June 30, 2005 and July 6, 2005, Blackpool noted a
potential private placement of 2 million units at $0.50 per unit. The Company
will not be proceeding with the private placement at this time.

d) Terry McCallum:
   ---------------
Blackpool announced in a press release dated July 4, 2005 that Terry
McCallum had been hired as Vice-President, Exploration. On July 6, 2005, Mr.
McCallum resigned as Vice-President, Exploration of Blackpool Exploration Ltd.
citing "personal reasons".

e) Reserves Data and Other Information:
   ------------------------------------
Blackpool filed its annual Statement of Reserves Data and Other
Information for the year ended December 31, 2004 with the Canadian Securities
Regulatory Authorities pursuant to National Instrument 51-101. A copy of this
document may be obtained electronically from the SEDAR system at
www.sedar.com.

The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
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