SOURCE: Black Dragon Resource Companies, Inc.

October 05, 2007 08:00 ET

Black Dragon Announces a Joint Venture Starting the Week of October 8, 2007

OIL CITY, LA--(Marketwire - October 5, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) ("the Company," "the Dragon") announced today that Dragon and a Working Interest Holder are going to reevaluate a gas and oil well drilled in the early 90s but never fraced. The reason behind the re-evaluation is a well drilled six months ago, close to Dragon's No. 67 and fraced, was a success. The plan is if this frace on Well No. 67 is successful, there are 9 other gas wells never fraced, just shot, that can be reevaluated.

The goal is the well will produce 18 more barrels of oil a day and 150,000 mcf of gas.

18 barrels x 30 days = 540 barrels x $76.00 = $41,040.00/2 = $20,520.00 x 73% net revenue = $14,979.60 per month.

150,000 mcf x 30 days = 4,500,000 x 6.55 = $29,475.00/2 = 14,737.50 x 73% net revenue = $10,758.37 x 91% net gas = $9,790.11 per month.

$24,769.71 for 50% of one well x 10 wells could equal $247,697.10 or more additional revenue per month. Management stated if the first well comes in, the rest could be finished up in November.

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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