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Black Ridge Oil & Gas Reports Record Revenue, Production and Adjusted EBITDA for the Quarter Ending September 30, 2012

Wednesday, November 14, 2012 10:11 AM


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MINNETONKA, MN -- (Marketwire) -- 11/14/12 -- Black Ridge Oil & Gas, Inc. ("the Company", formerly known as Ante5, Inc.) (OTCQB: ANFC) today announced results for the three months ended September 30, 2012. During this period, the Company reported revenues of $2,285,731 from sales of crude oil and natural gas, production volume of 27,927 Barrels of Oil Equivalent (BOE), which equated to 304 BOE per day (BOEPD), and adjusted EBITDA of $6,796,725, including $5,744,643 related to net settlement income. Excluding net settlement income, adjusted EBITDA was $1,052,082. The revenue, production, and adjusted EBITDA are all record high levels for the company.

Ken DeCubellis, Black Ridge's Chief Executive Officer, commented, "We are proud to report our Third Quarter 2012 results, which were the best in the history of the Company. We continue to develop our Bakken and Three Forks leaseholds to record levels. Our balance sheet and cash position are strong. We have the funding necessary to execute our current leasehold acquisition and development plans through 2013 without raising additional capital."

Third Quarter 2012 Highlights

  • Quarterly revenue of $2,285,731, an increase of 154% compared to the three month period ended September 30, 2011, and a 66% increase compared to the three month period ended June 30, 2012.
  • Quarterly production of 27,927 BOE, 304 BOEPD. The 304 BOEPD is an increase of 157% compared to the three month period ended September 30, 2011, and a 58% increase compared to the prior three month period ended June 30, 2012.
  • 97% of total production was from oil.
  • Adjusted EBITDA from ongoing oil and gas operations of $1,052,082 in the quarter ended September 30, 2012, an increase of $847,010, or 413%, from Adjusted EBITDA of $205,072 in the quarter ended September 30, 2011, and an increase of $514,311, or 96%, from Adjusted EBITDA of $537,771 in the three month period ended June 30, 2012.
  • On September 5, 2012, the Company amended its Secured Revolving Credit Agreement with Dougherty Funding LLC, increasing the maximum available from $10,000,000 to $20,000,000 of which $16,500,000 is currently available.
  • As of September 30, 2012, the Company controlled approximately 11,159 net mineral acres in the Bakken and Three Forks formations. In addition, the Company owned working interests in 63 gross wells representing 2.26 net wells that are preparing to drill, drilling, awaiting completion, complete or producing.

As of November 12, 2012, the Company controlled approximately 11,449 net mineral acres in the Bakken and Three Forks formations. In addition, the Company owned working interests in 69 gross wells representing 2.41 net wells that are preparing to drill, drilling, awaiting completion, complete or producing, and also had 14 gross wells representing 0.37 net wells that are permitted.

"The strength of our business model is being demonstrated in our strong operational and financial results. We are well positioned to continue converting our leases into production and cash flow as we further develop our asset base in North America's premier unconventional oil play," added DeCubellis.

Operational Update

Producing Wells: The following table sets forth Bakken and Three Forks wells in which Black Ridge holds a participating interest that were producing as of September 30, 2012.

                                                                       IP
Well                        Operator          Location         WI(1) Rate(2)
----------------------------------------------------------------------------
Christensen 159-102-8-5-1H  Newfield          Williams, ND     0.300     562
Fairbanks 1-20H             Continental       Williams, ND     0.287     339
Go-State 157-97-2116H-1     Hess              Williams, ND     0.130     558
Pasternak #1-32-29HC        G3 Operating      Williams, ND     0.125     370
Peggy Schettler 14-33H      Marathon          Dunn, ND         0.125     TBD
Colfax 1X-19H               Continental       Williams, ND     0.106     747
Go-Hill 158-98-3427H-1      Hess              Williams, ND     0.102     508
Dahl Federal 2-15H (3)      SM-energy         McKenzie, ND     0.087     791
Weyrauch 15-11H             Hess              Williams, ND     0.083     824
Lowe 18-19-158N-99W         Crescent Point    Williams, ND     0.081      24
Stromme Family Trust 157-
101-11C-2-1H                Petro-Hunt        Williams, ND     0.079     182
Pasternak Trust 157-100-18A-
19-1H                       Petro-Hunt        Williams, ND     0.078     534
A.Tufto 18-19 #1-H          Brigham           Williams, ND     0.072   2,541
King 157-101-3B-10-1H       Petro-Hunt        Williams, ND     0.068     490
Sidonia 15-1102H            EOG               Mountrail, ND    0.063     510
Go-Durning 157-97-2932H-1   Hess              Williams, ND     0.063     TBD
Love 11-2 #1H               Samson            Williams, ND     0.062     343
Erickson 41-25 SWH          Denbury           McKenzie, ND     0.050   1,051
Austin 17-20-158N-99W       Crescent Point    Williams, ND     0.049     108
Burke 24-08H                EOG               Mountrail, ND    0.016     673
Revolver 1-35H              Slawson           Mountrail, ND    0.016   1,770
Revolver 2-35H              Slawson           Mountrail, ND    0.016     366
White 157-100-17B-20-1H     Petro-Hunt        Williams, ND     0.016     411
En-Jorstad-157-94-0904H-1   Hess              Mountrail, ND    0.012     647
Marshall 1-13H              Continental       Dunn, ND         0.012     844
Miller 157-101-12C-1-1H     Petro-Hunt        Williams, ND     0.011   2,112
Vanville 22-2623H           EOG               Burke, ND        0.010      75
Vanville 21-2635H           EOG               Burke, ND        0.010     240
Olson 15-36H                Hess              Williams, ND     0.010   1,135
Clearwater 1-24-25H 1       Hunt              Mountrail, ND    0.010     254
Kannegeiter 160-90-17-P-1H  OXY               Burke, ND        0.010       9
Berger 156-100-7-6-1H       Liberty           Williams, ND     0.010   1,091
Opedahl 21x-11              XTO               Williams, ND     0.010     394
Talkington 21-30TFH         Whiting           Stark, ND        0.008     809
Talkington 41-30PH          Whiting           Stark, ND        0.008     TBD
Talkington 11-30PH          Whiting           Stark, ND        0.008     TBD
Probe 1-19-30HMB            Slawson           Mountrail, ND    0.008     494
Clearwater 1-26-23H 1       Hunt              Mountrail, ND    0.007     174
Lindy 156-100-10-3-1H       Liberty           Williams, ND     0.007     599
Pankowski 4-6H              Kodiak            Williams, ND     0.007     358
En-Charles Wood-157-94-
1720H-1                     Hess              Mountrail, ND    0.006     347
EN-Will Trust B-157-94-
2635H-1                     Hess              Mountrail, ND    0.005     402
EN-Will Trust B-157-94-
2635H-2                     Hess              Mountrail, ND    0.005     412
EN-Will Trust B-157-94-
2635H-3                     Hess              Mountrail, ND    0.005     372
Hodenfield 15-23H           Hess              Williams, ND     0.005   2,042
Tempe #1-29H                Continental       Divide, ND       0.004     338
Go-Soine A-156-97-3229H-1   Hess              Williams, ND     0.004     870
Mathewson 1-30H             Continental       Williams, ND     0.004     662
Washburne 1-22H             Continental       Williams, ND     0.003     746
Marcy 1-24H                 Continental       Williams, ND     0.003     472
Marcy 2-24H                 Continental       Williams, ND     0.003     466
Marcy 3-24H                 Continental       Williams, ND     0.003     240
Hokanson 157-99-1A-12-1H    Petro-Hunt        Williams, ND     0.003     TBD
Setterlund 159-94-28B-33-1H Petro-Hunt        Burke, ND        0.002     208
Scanlan 3-5H                Kodiak            Williams, ND     0.002     819
Helstad 158-99-34D-27-1H    Petro-Hunt        Williams, ND     0.001     353
Feller 1-22H                Continental       Williams, ND     0.001     627
Vig 157-99-10D-3-1H         Petro-Hunt        Williams, ND     0.001     336
----------------------------------------------------------------------------

(1) The working interests are based on Black Ridge's internal records and
    may be subject to change by operators' third-party legal counsel in
    preparing final division order title opinions for each well.
(2) The initial production rate ("IP Rate") for each well expressed in
    barrels of oil per day ("BOPD") does not include associated natural gas
    production. Initial production is generally the 24-hour "Peak Production
    Rate" that may be measured following the initial day of production,
    depending on operator procedure or well profiles, although the
    calculation may vary from operator to operator.
(3) This well was not included in quarter end financial reporting because
    the operator is holding the funds related to the company's Working
    Interest pending resolution of third party litigation related to the
    state of North Dakota's control of riparian acreage.

"Drilling" Wells: The following table sets forth Bakken and Three Forks wells in which Black Ridge holds a participating interest that are either preparing to drill, drilling, awaiting completion or completing as of September 30, 2012.

Well                          Location          Operator               WI(1)
----------------------------------------------------------------------------
Blikre 158-94-13B-24-1H       Mountrail, ND     Petro-Hunt             0.016
Jackman 156-100-11-2-1H       Williams, ND      Liberty                0.015
Redmond 27-2932H              Mountrail, ND     EOG                    0.012
Redmond 28-2917H              Mountrail, ND     EOG                    0.012
Homer 1-14H                   Williams, ND      Continental            0.002
Opsal 158-99-26A-35-1H        Williams, ND      Petro-Hunt             0.001
----------------------------------------------------------------------------
(1) The working interests are based on Black Ridge's internal records and
    may be subject to change by operators' third-party legal counsel in
    preparing final division order title opinions for each well.

Adjusted Net Income (Loss) and Adjusted EBITDA
In addition to reporting net income (loss) as defined under GAAP, we also present Adjusted Net Income (Loss) and Adjusted EBITDA. We define Adjusted Net Income (Loss) as net income excluding settlement income, net of settlement expenses, and tax. We define Adjusted EBITDA as net income before (i) interest expense, (ii) income taxes, (iii) depreciation, depletion and amortization, (iv) accretion of abandonment liability, and (v) non-cash expenses relating to share based payments recognized under ASC Topic 718. We believe the use of non-GAAP financial measures provides useful information to investors regarding our current financial performance; however, Adjusted Net Income (Loss) and Adjusted EBITDA do not represent, and should not be considered alternatives to GAAP measurements. We believe these measures are useful in evaluating our fundamental core operating performance. Specifically, we believe the non-GAAP Adjusted Net Income (Loss) and Adjusted EBITDA results provide useful information to both management and investors by excluding certain income and expenses that our management believes are not indicative of our core operating results. Although we use Adjusted Net Income (Loss) and Adjusted EBITDA to manage our business, including the preparation of our annual operating budget and financial projections, we believe that non-GAAP financial measures have limitations and do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate our results of operations in conjunction with the corresponding GAAP financial measures. A reconciliation of Adjusted Net Income (Loss) and Adjusted EBITDA to Net Income, GAAP, are included below:


                        Black Ridge Oil & Gas, Inc.
                Reconciliation of Adjusted Net Income (Loss)
                                (Unaudited)

                            Three Months Ended         Nine Months Ended
                               September 30,             September 30,
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------
Net Income (Loss)        $ 3,355,510  $  (338,212) $ 1,977,208  $  (804,449)
Subtract:
  Settlement Income, Net
   of Tax (a)             (3,384,643)           -   (3,384,643)           -
                         -----------  -----------  -----------  -----------
Adjusted Net Income
 (Loss)                  $   (29,133) $  (338,212) $(1,407,435) $  (804,449)
                         ===========  ===========  ===========  ===========
Weighted average common
 shares outstanding -
 basic                    47,979,990   45,661,345   47,725,172   41,364,318
                         ===========  ===========  ===========  ===========
Weighted average common
 shares outstanding -
 fully diluted            48,583,451   45,661,345   48,049,669   41,364,318
                         ===========  ===========  ===========  ===========
Net income (loss) per
 common share - basic    $      0.07  $     (0.01) $      0.04  $     (0.02)
Subtract:
  Change due to
   Settlement Income,
   Net of Tax                  (0.07)           -        (0.07)           -
                         -----------  -----------  -----------  -----------
Adjusted Net Income
 (loss) per common share
 - basic                 $         -  $     (0.01) $     (0.03) $     (0.02)
                         ===========  ===========  ===========  ===========
Net income (loss) per
 common share - fully
 diluted                 $      0.07  $     (0.01) $      0.04  $     (0.02)
Subtract:
  Change due to
   Settlement Income,
   Net of Tax                  (0.07)           -        (0.07)           -
                         -----------  -----------  -----------  -----------
Adjusted Net Income
 (Loss) per common share
 - fully diluted         $         -  $     (0.01) $     (0.03) $     (0.02)
                         ===========  ===========  ===========  ===========

(a) Adjusted to reflect tax expense, computed based on our effective tax
    rate of approximately 41%, of $2,360,000 for the three and nine months
    ended September 30, 2012.

                        Black Ridge Oil & Gas, Inc.
                     Reconciliation of Adjusted EBITDA
                                (Unaudited)
                                 Three Months Ended     Nine Months Ended
                                   September 30,          September 30,
                               ---------------------  ---------------------
                                   2012       2011        2012       2011
                               ----------- ---------  ----------- ---------
Net Income (loss)              $ 3,355,510 $(338,212) $ 1,977,208 $(804,449)
  Add Back:
    Interest Expense, net,
     excluding amortization of
     warrant based financing
     costs                         275,144     5,325      496,282     7,631
    Income Tax Provision         2,012,195   (48,300)   1,630,630  (380,500)
    Depreciation, Depletion,
     and Amortization              924,949   330,232    1,752,148   440,844
    Accretion of Abandonment
     Liability                       1,339       154        3,344       420
    Common stock issued for
     terminated oil and gas
     acquisition                         -         -      438,539         -
    Share Based Compensation       227,588   255,873    1,006,538   589,907
                               ----------- ---------  ----------- ---------
    Adjusted EBITDA            $ 6,796,725 $ 205,072  $ 7,304,689 $(146,147)
                               =========== =========  =========== =========

Our Adjusted EBITDA for the three and nine month periods ended September 30, 2012 includes settlement income, net of settlement expenses, of $5,744,643.

About the Company

Black Ridge Oil & Gas is an oil and gas exploration and production company based in Minnetonka, Minnesota. Black Ridge's focus is exclusive to the Williston Basin Bakken and Three Forks trend in North Dakota and Montana. Black Ridge Oil & Gas controls approximately 11,159 net acres prospective for Bakken and/or Three Forks development. For additional information, visit the Company's website at www.blackridgeoil.com.

Make sure you are first to receive timely information on Black Ridge Oil & Gas when it hits the newswire. Sign up for Black Ridge's email news alert system today at http://ir.stockpr.com/blackridgeoil/email-alerts


             BLACK RIDGE OIL & GAS, INC. (Formerly Ante5, Inc.)
                          CONDENSED BALANCE SHEETS
                                               September 30,   December 31,
                                                    2012           2011
                                               -------------  -------------
                    ASSETS                      (Unaudited)
Current assets:
  Cash and cash equivalents                    $   1,775,098  $   1,401,141
  Accounts receivable, including $11,000,000
   of settlement receivables in 2012              13,242,116        673,003
  Prepaid expenses                                    25,499         40,599
  Current portion of contingent consideration
   receivable                                              -      2,309,752
                                               -------------  -------------
    Total current assets                          15,042,713      4,424,495
                                               -------------  -------------
Property and equipment:
  Oil and natural gas properties, full cost
   method of accounting
    Proved properties                             30,228,396     10,867,443
    Unproved properties                           10,415,317     13,236,057
  Other property and equipment                        85,917         78,489
                                               -------------  -------------
    Total property and equipment                  40,729,630     24,181,989
  Less, accumulated depreciation, amortization
   and depletion                                  (5,077,645)    (3,325,497)
                                               -------------  -------------
    Total property and equipment, net             35,651,985     20,856,492
                                               -------------  -------------
Contingent consideration receivable, net of
 current portion and allowance of $-0- and
 $878,650 at September 30, 2012 and December
 30, 2011, respectively                                    -      3,698,850
Long-term accounts receivable, settlement          2,500,000              -
Debt issuance costs                                  674,983         52,049
                                               -------------  -------------
    Total other assets                             3,174,983      3,750,899
                                               -------------  -------------
Total assets                                   $  53,869,681  $  29,031,886
                                               =============  =============

     LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable, including $1,840,000 of
   settlement payables in 2012                 $  10,035,054  $   2,820,936
  Accounts payable, related parties, including
   $433,079 of settlement payables in 2012           437,409          9,206
  Accrued expenses                                    82,352              -
  Royalties payable, related party                         -        300,431
                                               -------------  -------------
    Total current liabilities                     10,554,815      3,130,573
Long-term accounts payable, settlement               160,000              -
Long-term accounts payable, related party,
 settlement                                          117,000              -
Asset retirement obligations                          57,538          3,900
Revolving credit facilities                       11,850,000              -
Deferred tax liability                             2,642,725      1,012,095
                                               -------------  -------------
Total liabilities                                 25,382,078      4,146,568
                                               -------------  -------------
Stockholders' equity:
  Preferred stock, $0.001 par value,
   20,000,000 shares authorized, no shares
   issued and outstanding                                  -              -
  Common stock, $0.001 par value, 100,000,000
   shares authorized, 47,979,990 and
   47,402,965 shares issued and outstanding,
   respectively                                       47,980         47,403
  Additional paid-in capital                      29,683,174     28,058,674
  Accumulated (deficit)                           (1,243,551)    (3,220,759)
                                               -------------  -------------
    Total stockholders' equity                    28,487,603     24,885,318
                                               -------------  -------------
Total liabilities and stockholders' equity     $  53,869,681  $  29,031,886
                                               =============  =============

             BLACK RIDGE OIL & GAS, INC. (Formerly Ante5, Inc.)
                     CONDENSED STATEMENTS OF OPERATIONS
                                (Unaudited)
                           For the Three Months       For the Nine Months
                            Ended September 30,       Ended September 30,
                             2012         2011         2012         2011
                         -----------  -----------  -----------  -----------
Oil and gas sales        $ 2,285,731  $   900,511  $ 4,332,461  $ 1,248,041
                         -----------  -----------  -----------  -----------
Operating expenses:
  Production expenses        161,793      362,560      427,676      379,535
  Production taxes           292,925      101,936      526,735      138,939
  General and
   administrative          1,003,743      474,570    2,955,517    1,332,556
  Depletion of oil and
   gas properties            919,138      327,363    1,733,753      431,893
  Accretion of discount
   on asset retirement
   obligations                 1,339          154        3,344          420
  Depreciation and
   amortization                5,811        2,869       18,395        8,951
                         -----------  -----------  -----------  -----------
    Total operating
     expenses              2,384,749    1,269,452    5,665,420    2,292,294
                         -----------  -----------  -----------  -----------
Net operating (loss)         (99,018)    (368,941)  (1,332,959)  (1,044,253)
                         -----------  -----------  -----------  -----------
Other income (expense):
  Interest income                209          252          451        1,664
  Interest (expense)        (278,129)     (38,233)    (804,297)     (63,723)
  Other income                     -       20,410            -       20,410
  Settlement income        8,020,759            -    8,020,759            -
  Settlement expenses     (2,276,116)           -   (2,276,116)           -
  Loss on disposal of
   equipment                       -            -            -       (1,061)
  Indemnification
   expenses                        -            -            -      (97,986)
                         -----------  -----------  -----------  -----------
    Total other income
     (expense)             5,466,723      (17,571)   4,940,797     (140,696)
                         -----------  -----------  -----------  -----------
Income (loss) before
 provision for income
 taxes                     5,367,705     (386,512)   3,607,838   (1,184,949)
  Provision for income
   taxes                  (2,012,195)      48,300   (1,630,630)     380,500
                         -----------  -----------  -----------  -----------
Net income (loss)        $ 3,355,510  $  (338,212) $ 1,977,208  $  (804,449)
                         ===========  ===========  ===========  ===========

Weighted average common
 shares outstanding -
 basic                    47,979,990   45,661,345   47,725,172   41,364,318
                         ===========  ===========  ===========  ===========
Weighted average common
 shares outstanding -
 fully diluted            48,583,451   45,661,345   48,049,669   41,364,318
                         ===========  ===========  ===========  ===========
Net income (loss) per
 common share - basic    $      0.07  $     (0.01) $      0.04  $     (0.02)
                         ===========  ===========  ===========  ===========
Net income (loss) per
 common share - fully
 diluted                 $      0.07  $     (0.01) $      0.04  $     (0.02)
                         ===========  ===========  ===========  ===========

             BLACK RIDGE OIL & GAS, INC. (Formerly Ante5, Inc.)
                     CONDENSED STATEMENTS OF CASH FLOWS
                                (Unaudited)

                                                    For the Nine Months
                                                    Ended September 30,
                                                    2012           2011
                                               -------------  -------------
CASH FLOWS FROM OPERATING ACTIVITIES
  Net income (loss)                            $   1,977,208  $    (804,449)
  Adjustments to reconcile net income (loss)
   to net cash provided by (used in) operating
   activities:
    Depletion of oil and gas properties            1,733,753        431,893
    Depreciation and amortization                     18,395          8,951
    Amortization of debt issuance costs              148,299          9,295
    Accretion of discount on asset retirement
     obligations                                       3,344            420
    Loss on disposal of equipment                          -          1,061
    Common stock issued for terminated oil and
     gas acquisition                                 438,539              -
    Common stock issued for services                       -         43,120
    Common stock warrants                            261,845         46,264
    Common stock warrants, related parties            45,719          8,164
    Common stock options, related parties            698,974        492,359
    Decrease (increase) in assets:
      Accounts receivable, including
       ($13,500,000) of settlement receivables
       in 2012                                   (15,069,113)      (962,211)
      Prepaid expenses                                15,100        (55,598)
      Contingent consideration receivable          6,008,602        159,897
    Increase (decrease) in liabilities:
      Accounts payable, including $2,000,000
       of settlement payables in 2012              2,096,034        187,100
      Accounts payable, related parties,
       including $550,079 of settlement
       payables                                      545,203        (69,792)
      Accrued expenses                                82,352        (47,267)
      Royalties payable, related party              (300,431)        (7,994)
      Deferred tax liability                       1,630,630       (380,500)
                                               -------------  -------------
    Net cash provided by (used in) operating
     activities                                      334,453       (939,287)
                                               -------------  -------------
CASH FLOWS FROM INVESTING ACTIVITIES
  Proceeds from sale of oil and gas properties       993,449              -
  Purchases of oil and gas properties and
   developmental capital expenditures            (12,025,284)    (9,929,935)
  Purchases of other property and equipment           (7,428)       (62,360)
                                               -------------  -------------
    Net cash used in investing activities        (11,039,263)    (9,992,295)
                                               -------------  -------------
CASH FLOWS FROM FINANCING ACTIVITIES
  Advances from revolving credit facilities       13,850,000              -
  Repayments on revolving credit facilities       (2,000,000)             -
  Proceeds from the sale of common stock, net
   of $526,444 of offering costs                           -      5,616,057
  Debt issuance costs paid                          (771,233)       (66,921)
  Proceeds from the exercise of common stock
   options                                                 -         17,280
                                               -------------  -------------
    Net cash provided by financing activities     11,078,767      5,566,416
                                               -------------  -------------
NET CHANGE IN CASH AND CASH EQUIVALENTS              373,957     (5,365,166)
  CASH AND CASH EQUIVALENTS AT BEGINNING OF
   PERIOD                                          1,401,141      8,577,610
                                               -------------  -------------
  CASH AND CASH EQUIVALENTS AT END OF PERIOD   $   1,775,098  $   3,212,444
                                               =============  =============

SUPPLEMENTAL INFORMATION:
  Interest paid                                $     266,082  $       9,295
                                               =============  =============
  Income taxes paid                            $           -  $           -
                                               =============  =============
NON-CASH INVESTING AND FINANCING ACTIVITIES:
  Purchase of oil and gas properties paid
   subsequent to period-end                    $   7,880,234  $   1,886,009
                                               =============  =============
  Purchase of oil and gas properties through
   issuance of common stock                    $           -  $   4,940,269
                                               =============  =============
  Capitalized asset retirement costs           $      50,294  $       3,247
                                               =============  =============
  Liabilities relieved to additional paid in
   capital                                     $     180,000  $           -
                                               =============  =============

Statement as to Forward Looking Statements

Certain statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties not known or disclosed herein that could cause actual results to differ materially from those expressed herein. These statements may include projections and other "forward-looking statements" within the meaning of the federal securities laws. Any such projections or statements reflect Black Ridge Oil & Gas current views about future events and financial performance. No assurances can be given that such events or performance will occur as projected and actual results may differ materially from those projected. Important factors that could cause the actual results to differ materially from those projected include, without limitation, general economic or industry conditions nationally and/or in the communities in which our Company conducts business, volatility in commodity prices for crude oil and natural gas, environmental risks, legislation or regulatory requirements, conditions of the securities markets, our ability to raise capital or have access to debt financing, changes in accounting principles, policies or guidelines, financial or political instability, acts of war or terrorism, other economic, competitive, governmental, regulatory and technical factors affecting our Company's operations, products, services and prices and other risks inherent in the Company's businesses that are detailed in the Company's Securities and Exchange Commission ("SEC") filings. Readers are encouraged to review these risks in the Company's SEC filings.

Contact:

Black Ridge Oil & Gas Investor Relations:
Gerald Kieft
WSR Communications
772-219-7525
Email Contact
http://wsrcommunications.ir.stockpr.com/blackridgeoil/overview

(Source: Market Wire )
(Source: Quotemedia)

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The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.