SOURCE: Black Dragon Resource Companies, Inc.

September 27, 2007 13:19 ET

Black Dragon Provides Operations Update for September

OIL CITY, LA--(Marketwire - September 27, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) announced today the Company is expecting to have over 5,500 barrels shipped in September.

Gross revenue should be over $400,000 for the month of September, bringing third quarter revenue to over $1,000,000 gross compared to the first six months gross revenue of $1,400,000.

Management has put a committee comprised of three Directors to operate the business affairs of Black Dragon. The auditors, Malone & Bailey, have given October 15, 2007 as the date for the audit to be completed.

The real actual share float of Dragon is around 107 million. This is the total when all of the shares, that have been stopped for lack of consideration being paid, are subtracted. Because of the current low price per share, management is discussing the ability to offer a buyback of their shares

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.

Contact Information

  • Contact:
    Black Dragon Resource Companies, Inc.
    Michael Ellis