Feb 23 (Reuters) - Blackpearl Resources Inc PXX.TO
* Blackpearl announces fourth quarter and full year 2016 financial and operating results and year-end reserves and resources, work commences on phase 2 thermal expansion at onion lake
* Blackpearl says oil and natural gas sales increased 56% in Q4 of 2016 to $35.4 million from $22.6 million in same period in 2015
* Blackpearl says Q4 2016 oil and gas sales volumes were 10,479 boe per day, a 10% increase over production during same period in 2015
* Blackpearl sees capital spending in 2017 will be approximately $200 million
* Blackpearl sees 2017 oil and gas production is expected to average between 10,000 and 11,000 boe/d
* Blackpearl qtrly loss per share $0.01 Source text for Eikon: Further company coverage: PXX.TO