SOURCE: Black Dragon Resource Companies, Inc.

July 16, 2007 13:53 ET

Black Dragon Puts Haynesville Back on Pump

OIL CITY, LA--(Marketwire - July 16, 2007) - Black Dragon Resource Companies, Inc. (PINKSHEETS: BDGR) management today announced the current status of the Haynesville lease.

Black Dragon management was recently informed that 10 of the 14 Haynesville wells were ready to pump. At that time, 6 wells were already pumping and 3 wells were flowing. "Now we can see how the salt-water wells will handle the water flow. We know that we will have to drill one or two more water wells in Haynesville. Once all 14 wells are pumping, this lease should add in excess of 4,500 to 5,000 barrels a month," stated Joe Lanza, President of Black Dragon.

Black Dragon also reported that the W.F. Bond lease flowed at 111 barrels of oil on the first day.

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.

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