SOURCE: Black Dragon Resource Companies, Inc.

July 12, 2007 13:13 ET

Black Dragon Announces Its Goals for the Month of July

OIL CITY, LA--(Marketwire - July 12, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) management today announced that it has set a goal of having 600 wells, each producing at an average of 60% of a barrel by the end of July.

In order for Black Dragon to meet this goal, 87 new wells will have to go on pump this month. Management estimates that if these goals are reached, the Company will be running cash flow positive. "The reason for the push is that Black Dragon should have its audits for 2005, 2006, and the start of 2007 completed sometime in September, and in conjunction with that, so that the stock is appropriately valued, we would like to be meeting our operational goals. If we get at least 550 plus wells pumping, Dragon can get an updated PV-10. The last PV-10 was based on 2 zones and 275 wells. By September, the Company should have a surplus of cash on cash flow," stated Joe Lanza, CEO of Black Dragon.

Management also reported that one well (WF Bond) produced 111 barrels before the power blew out at the Haynesville Lease. Monday crews will be sent to finish up Haynesville and get on at least the 3 flowing wells or as many wells as the salt water disposal well can handle. The Haynesville lease has 14 wells. The Arkana lease is producing 16 to 20 barrels a day using gas pressure to flow the oil from the well. Black Dragon is going to have a crew working on getting Arkana going. Johnson Eckhart will be back on this month. Black Dragon will hire two other contractors, other than Petrol, to meet its goals.

About Black Dragon:

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

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, including, but not limited to, the continued production of gas at historical rates, costs of operations, delays, and any 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, difficulties related to producing 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. In addition, the Company's ability to produce audited financial statements, its ability to accurately forecast its operating results; its ability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with its business are uncertain. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

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