SOURCE: Black Dragon Resource Companies, Inc.

June 01, 2007 13:33 ET

Black Dragon Ships Over 5,000 Barrels of Oil and/or Equivalent in May

OIL CITY, LA--(Marketwire - June 1, 2007) - Black Dragon Resource Companies (PINKSHEETS: BDGR) management today announced that the Company shipped over 5,000 barrels of oil and/or equivalent in May.

May's results are especially impressive, considering the inclement weather that the state of Louisiana experienced. The 5,000 barrels that were shipped came from approximately 7,700 barrels of production. Black Dragon hopes to increase daily production to 300 barrels a day, which would result in 9,000 barrels of production.

Black Dragon now has 450 producing oil wells. The Company added 50 producing wells in May, meeting their goal of adding 50 producing wells each month.

By management's calculations, net revenue for April and May ($368,080) has already surpassed net revenue for entire 1Q ($310,000).

Updating last week's release, Black Dragon has retained additional counsel to defend itself against the OMDA Oil and Gas, Inc. lawsuit, which they believe to be baseless. Management points out that they are intent on using any resources necessary to resolve this matter.

About Black Dragon:

Black Dragon Resource Companies, Inc. is an oil and gas Production Company focused on the acquisition of mature, producing and existing U.S. oil and gas fields. The Company's focus on mature, domestic oil fields eliminates exploration risk, reduces costs, and provides immediate generation of income in a niche market where larger independent and major oil companies are not positioned to compete.

The statements in this press release regarding any implied or perceived benefits from existing oil and gas field properties, actual reserves and revenues to be derived from the reserves, plans to drill additional oil and gas wells, anticipated revenues, the acquisition of additional oil or gas leases, maintaining mineral lease rights, and any other such effect resulting from any of the above are forward-looking statements. Such statements involve risks and uncertainties, including, but not limited to, the continued production of gas at historical rates, costs of operations, delays, and any other difficulties related to producing minerals such as oil and gas, continued maintenance of the oil field and properties, price of oil or gas, marketing and sales of produced minerals, risks and effects of legal and administrative proceedings and governmental regulation, future financial and operational results, competition, general economic conditions, and the ability to manage continued growth.

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 the Company 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. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

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