CALGARY, May 4 /CNW/ - During 2005, Blackpool Exploration Ltd. raised approximately $4.5 million in flow through financing with the requirement that qualifying expenditures in this amount be incurred by year end 2006. The Company had incurred qualifying expenditures totaling only $3.4 million at year end 2006 for a shortfall of approximately $1.1 million. Blackpool has now incurred qualifying expenditures of approximately $4.5 million, thereby complying with the spending requirement associated with the 2005 flow through financing.
Blackpool Exploration Ltd. is an Alberta based company engaged in the exploration, development and production of oil and natural gas with common shares listed and trading on the TSX Venture Exchange under the symbol "BPX.A". Blackpool has current production of approximately 200 barrels of oil equivalent per day and holds 27,500 net acres focused primarily in the Peace River Arch area of northwestern Alberta, between Cecil to the northwest and Economy Creek to the southeast. Blackpool's website can be viewed at www.blackpoolexploration.com.
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