SOURCE: Black Dragon Resource Companies, Inc.

November 08, 2007 12:05 ET

Black Dragon Announces October Production of 7,081 Barrels

OIL CITY, LA--(Marketwire - November 8, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) today announced the production of 7,081 gross barrels in the month of October.

Black Dragon's operator shipped approximately 4,150 gross barrels of oil in the month of October. Inventory rose to 6,131 barrels up from 3,200 in September, an increase of 2,931 barrels. Once again, if the operator could have moved off the total oil produced, revenues would have increased accordingly.

November should be a great month for Black Dragon, especially if all 11 wells can be fraced by the end of the month. Management is hoping to be fracing two more wells the beginning of next week. Along with the fracing, Black Dragon is working on its largest leases, Muslow and Muslow M&M. These two leases have over 124 wells. When Black Dragon has completed these two leases with the 11 new fracs, they are projecting 8,000 to 9,000 gross barrels a month.

Black Dragon at this time has no report of any results from the thumper. The report will be forthcoming, and the Company is hopeful that they will hear something next week.

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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