Forward Looking StatementCertain information included in this presentation constitutes forward‐looking information underapplicable securities legislation. This information relates to future events or future performance ofBlackbird Energy Inc. ("Blackbird"). Investors are cautioned that reliance on such information maynot be appropriate for making investment decisions. Many factors could cause Blackbird's actualresults, performance or achievements to vary from those described herein. The forward‐lookinginformation contained in this presentation is expressly qualified by this and other cautionarystatements set forth in the continuous disclosure record of Blackbird.

For a complete description of the forward‐looking statements or information and certain otheradvisories, see slide 68 "Forward‐Looking Statements or Information and Additional Advisories."

Sometimes the best way to see how a company is going to move forward is…

…to look back on where they came from

Blackbird Blackbird 2014

Welcome to our Neighbourhood

Blackbird 2014

“Greater Karr” Lands

Blackbird 2014

1.75 sections at Bigstone

18 sections at “Greater Karr”

19.75 total Montney sections

I am not

going to

bore you

Our detractors said we had moose pasture

We would never get a get drilling license

They said the Wapiti River had a major fault that would disrupt drilling

And they claimed we were stranded…for good!

Blackbird 2016

Strong Balance Sheet

~7.5 million in positive working capital

No Debt

Production Behind Pipe

Play Established

Play Established

75 sections acquired for ~$6.9 million

Elmworth, AB

164 Montney wells currently producing in our corridor

Wells that we have drilled!

One Upper Montney WellTwo Middle Montney Wells

De-Risked 25 Sections

Three Clear Intervals

300 de-risked locations

129 locations south of Wapiti

But! I have moved too rapidly…

Let’s discuss the current Market Conditions!

Natural Gas Prices19 year low; Down ~73%

from its 2014 High

Crude Oil Prices Down ~ 73% from its five year high

What do we know?All Commodities Cycle

The future for oil and gas?

All Commodities….. Cycle

Oil Price Meltdowns and Recoveries

+ xxx%?

Lower prices are unlikely…

The Montney is attracting the bid!

Junior taken over for $356 million, ~4000 boe/d, ~20 core sections

Private equity invests a further $128 million into CIOC

Private Equity purchased ~20 sections directly adjacent to BBI

Seven Generations completes a major $300 million financing

In a low price environment, we see opportunity:

Level One &Level Two Thinking

Level 1 thinking:

Commodity prices are low, thus I should pullback on my capex so that I can pay my salary!

Level 2 Thinking:

Commodity prices are low, Blackbird has focused on a project that is economic,TODAY

Condensate

Only commodity in Canada with pricing advantage relative to U.S.

Current CAD Demand = ~350,000 bbls/d vs. Current CAD Supply = ~ 150,000 bbls/d

2020 CAD Demand = ~650,000 bbls/d vs. 2020 Canadian Supply = ~250,000 bbls/d

Excess demand has to be supplied from somewhere…

Source: Peters & Co.

Level 2 thinking:

Commodity Pricesare low, services will be available at highly competitive pricing for drilling, completions and infrastructure

Level 2 Thinking:

Commodity prices are low, companies are lowering capex, Blackbird will be able to acquire firm take-away!

Theory

Implementation

Let’s start with the Geology

Upper Montney

30

~2 miles away

20

0 M

eter

s

BBI 2-20 Hz Density Porosity Gas Detector

Up to 6% Porosity

Presence of hydrocarbons confirmed by the release of formation gas while drilling

Gamma Ray Resistivity Lithology

Upper Montney

Encana has drilled 62 Montney wells, 55 currently producing

2 clear intervals in Upper Montney

Combined with BBI 5-26 de-risks 25 sections of Upper Montney

Building value through Encana’s activity

Create Value: 2-20 well

Demonstrate: Middle Montney productivity and economics at current prices

Demonstrate: Middle Montney is not High Sour

Build: Significant Reserves

Drilling

Intense Planning & Execution leads to Value

First monobore in Elmworth / Pipestone / Gold Creek = reduced costs

Execution by Tom Watt, Ensign, Canadian Energy Services & New Discovery

The TEAM LEADS Don Noakes & Craig Wiebe

= Drill times (49 days 24 days) = reduced

costs

CompletionLargest sliding sleeve completion in the Elmworth / Pipestone / Gold Creek Corridor

Largest CO2 frac possibly globally per Ferus Inc.

I have to thank our director, Sean Campbell, for his outstanding contribution

Thank you as well to Canyon Technical Services

Objective to achieve a greater EUR and increase reserves

Cost to drill and complete ~$9.9 million

What does this lead to…

Exceptional Results!!!

1,768 boe/d (6.8 mmcf/d and 641 bbls/d)Note: please see news release for full production information regarding 2-20 well

Exceptional Results!!!

1,768 boe/d (6.8 mmcf/d and 641 bbls/d)

Value for Shareholders

Note: please see news release for full production information regarding 2-20 well

Exceptional Results from our Industry

Seven Generations Energy

NuVista Energy

Delphi Energy

The results built …

Upper/Middle De-risked: 3 intervals

300 de-risked well locations

129 well locations south of the Wapiti river

Note: based on management estimates

Can we do this again?

A New York Private Equity Manager asked could we repeat this?

Yes Yes we can!

But with Slickwater and Substantially Lower Cost!

Yes Where are we going…

Drill, Complete, Equip, Tie-In: $7.25 Million per well!

Note: based on management estimates

Yes

Drill, Complete, Equip, Tie-In: $7.25 Million per well!

Reduced Costs + Higher NPV =

Value for Shareholders!

Where are we going…

Note: based on management estimates

Let’s Talk Economics…

Upper Montney Economics ($7.25 MM DCET) Forward Strip

~$3.3 Million NPV

~23% IRR

Let’s Talk Economics…

Note: based on management estimates

Middle Montney Economics ($7.25 MM DCET) Forward Strip

~$3.8 Million NPV

~24% IRR

Let’s Talk Economics…

Note: based on management estimates

And What about Reserves…

Reserves

And What about Reserves…

P+P Reserves at July 31, 2015 = 1.0 mmboe

Then Blackbird drilled 1 well…the Result?

Blackbird Announces Reserves

And What about Reserves…

Blackbird added 5.48 mmboe P+P Reserves, a

522% increase

Blackbird Announces Reserves

Mid-cycle update prepared by GLJ Petroleum Consultants

And What about Reserves…

Total Proved Reserves = 3.0 mmboe

Total P+P NPV10 = $38.5 million;120% increase, with revised January

1, 2016 GLJ Price Forecast

Total P+P Reserves = 6.48 mmboe (37% liquids)

Blackbird Announces Reserves

How do we stay relevant in the current market?

Innovation!

First Monobore

Largest CO2 Completion

Sliding Sleeve Completion

Are We Done?

Not even close!

We will continue to innovate

Now where are we going?

We have achieved Sales Gas Take-Away

Acquired 5 mmcf/d Firm Full Path Service

Receipt Point: Gold Creek metering station

Delivery Point: Alliance Chicago Exchange Hub

Term: October 1, 2016 – October 31, 2020 (Renewal Rights Included)

What are the Remaining Hurdles?

Sour Gas Processing

Infrastructure

Cash Flow in 2016

Continue to Build Additional Value Through…

Strategically Moving Forward

129 locations south of Wapiti River14 years of drilling inventory

Blackbird 2-20-70-7W6Blackbird 5-26-70-7W6

Blackbird 6-26-70-7W6

Before I finish I want to discuss our Corporate Social Responsibility

Corporate Social Responsibility

$25,000 donation to Grovedale Fire Department Relief Fund

Tree Planting Program

12,750 trees committed to date

Additional 2,500 trees to be committed if matched by

Stakeholders

Thank you to our stakeholders / shareholders and my team!

We have done a great deal in the last year…

But this next year is going to be even more interesting!

Thank you to my Board of Directors!

Thank You

Forward Looking StatementForward‐Looking Statements or Information and Additional Advisories

Certain statements included in this presentation constitute forward‐looking statements or forward‐looking information under applicable securities legislation. Such forward‐looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward‐looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward‐looking statements or information concerning Blackbird in this presentation may include, but are not limited to, statements or information with respect to: guidance, forecasts and related assumptions; capital spending and availability of cash; expected resource potential of the Elmworth project; business strategy and objectives; type curves; drilling, development and exploration activities and plans and the timing, associated costs and results thereof; commodity pricing; costs associated with operating in the oil and natural gas business; and future production levels, including the composition thereof. Forward‐looking statements or information are based on a number of factors and assumptions which have been used to develop such statements and information but which may prove to be incorrect. Blackbird believes that the expectations reflected in such forward‐looking statements or information are reasonable; however, undue reliance should not be placed on forward‐looking statements because Blackbird can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this presentation, assumptions have been made regarding, among other things: the impact of increasing competition; the timely receipt of any required regulatory approvals; the ability of Blackbird to retain and obtain qualified staff, equipment and services in a timely and cost efficient manner; the ability of Blackbird to operate in a safe, efficient and effective manner; the ability of Blackbird to obtain financing on acceptable terms; the timing and costs of operating Blackbird's business; the ability of Blackbird to secure adequate product transportation; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding royalties, taxes and environmental matters; and the ability of Blackbird to successfully market its oil and natural gas products. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used.

Forward‐looking statements or information are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Blackbird and described in the forward‐looking statements or information. These risks and uncertainties may cause actual results to differ materially from the forward‐looking statements or information. The material risk factors affecting Blackbird and its business are contained in Blackbird's Annual Information Form which is available at SEDAR at www.sedar.com. The forward‐looking statements or information contained in this presentation are made as of the date hereof and Blackbird undertakes no obligation to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise unless required by applicable securities laws. The forward‐looking statements or information contained in this presentation are expressly qualified by this cautionary statement.

Additional Advisories

Disclosure provided herein in respect of Bbls, Bbls/d, boe, boes or boes/d may be misleading, particularly if used in isolation. A boe (barrel of oil equivalent) conversion ratio of 6 mcf per one (1) boe is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

The foregoing outlook and guidance has been provided to assist investors in analyzing Blackbird's anticipated development strategies and prospects and it may not be appropriate for other purposes and actual results could differ from the guidance provided above.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the information contained in this presentation.