SOURCE: Black Dragon Resource Companies, Inc.

October 30, 2007 15:27 ET

Black Dragon Announces the Completion of Well #67 and a Joint Venture With Caddo International, Inc.

OIL CITY, LA--(Marketwire - October 30, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) -- Management is pleased to announce the first flush of oil and gas showed about 30 barrels of oil a day and around 150 mcf of gas a day on Well #67.

With oil at around $90.00 a barrel, estimated gross would be approximately $81,000 a month, and gas selling at around $7.00 plus per mcf totaling $31,500 gross, that would potentially be $115,000 gross a month, meaning pay back in one month. Black Dragon's plan is to do two more locations next week, if possible. If all eleven fracs work like Well #67, these wells could add an additional $850,000 a month in revenue, meaning that Black Dragon could triple its revenue, by year end, not quarterly (no guarantees).

Secondly, Black Dragon is working with Caddo International, Inc. on the use of a new technology whose nickname is known as the "thumper." It can go as far as 16,000 ft and finds the oil, water and gas sands. They then send the disk to their lab and within a week, Black Dragon would also have similar to 3D seismic upgrade. Caddo International is working with a company from Ireland who claims they have the US rights.

Management used the thumper 18 times last week on part of our leases and is currently waiting for the return of the upgraded seismic disk.

About Black Dragon:

Black Dragon Resource Companies, Inc. is an oil and gas exploration and production company currently focused on the acquisition of mature, producing and existing domestic oil and gas fields. This focus has eliminated exploration risk, reduced costs of completion, and provided rapid generation of income in a niche market where larger independent and major oil companies are not positioned to compete. Black Dragon intends to recomplete additional shallow producing wells and to expand its focus to include drilling of new wells some to deeper levels and to purchase additional leases.

Forward-Looking Statements:

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although Black Dragon believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties, including, but not limited to, the continued production of gas at historical rates, costs of operations, delays, oil and gas reserves and revenues to be derived therefrom, plans to drill additional oil and gas wells, acquisition of additional oil or gas leases, maintaining mineral lease rights, continued maintenance of the oil field and properties, price of oil and gas, marketing and sales of oil and gas produced, government regulation, future financial and operational results, competition, general economic conditions, and the ability to manage continued growth. In addition, the Company's ability to produce audited financial statements, its ability to accurately forecast its operating results, and its ability to achieve profitability or generate positive cash flow are uncertain. Black Dragon assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. Readers are cautioned not to place undue reliance on these forward-looking statements.

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