SOURCE: IO Circuit

August 03, 2006 07:30 ET

(OTC PK: BDGR) to Add Wells to Production

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO Circuit.

LAKE HARMONY, PA -- (MARKET WIRE) -- August 3, 2006 -- Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) provided an update today regarding the progress being made by the Company to bring into production properties previously acquired in the Hosston Field in Caddon Parish, and at the Haynesville field in Claibourne Parish, LA.

With regard to the Hosston Field, the Company has brought into production this month, an additional 10 wells, bringing the total that are in production to 62, of the 70 acquired. The Company expects to bring the remaining 8 wells into production by the end of August.

The 12 producing wells in the Haynesville Field in Claibourne Parish, LA returned to full production today. The wells were subject to renovation and expansion by the Company and subsequently were fully inspected by the Louisiana Conservation Commission. The Company expects production from the 12 wells at the 100 barrels per day level that had been achieved when they were purchased in February 2006.

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