SOURCE: Black Gold Resources, Inc.

Black Gold Resources, Inc.

July 01, 2015 16:36 ET

Black Gold Resources Acquires Stake in the 10 Well Income Joint Venture in Caldwell County, TX

HENDERSONVILLE, TN--(Marketwired - July 01, 2015) - Black Gold Resources, Inc. (BGR) The 10 WELL INCOME, JV is a Thirteen (13) Well Enhanced Oil Recovery Project located in Caldwell County, Texas. Twelve (12) of the wells are proven productive vertical oil wells. Two (2) of the 12 wells will be converted to water injection wells for the purpose of re-pressurizing the Austin Chalk formation in order to increase the daily productive rate and to extend the productive life of the other wells on the lease. The Thirteenth (13th) well is a water disposal well that will be utilized as part of the EOR operations.

Black Gold Resources, Inc. is engaged in the oil and gas business, with operations located primarily in the states of Oklahoma, Texas, and Kansas. The Company’s ultimate strategic focus is the production of oil and natural gas, lease development, and the maximization of recovery, thereby enhancing reserves. The Company believes that its oil and natural gas development strategy will provide growth to the Company in the future. JG Forrester, President, stated, “BGR takes pride in the opportunities that we offer our partners, and we’re very excited about the merit and future of this venture.”

About Us:

Black Gold Resources is a Tennessee-based oil and natural gas exploration company. Black Gold Resources and its experienced management team are well situated to take advantage of the many opportunities that are present in today’s energy markets. Black Gold Resources mainly focuses its efforts in and around the states of Texas and Oklahoma. The southwest region of the United States, particularly the state of Texas, has had a long history in the oil and natural gas industry. Opportunities for new development, as well as advanced recovery options concerning existing wells, are prevalent throughout both Texas and Oklahoma. Black Gold Resources’ expertise puts us in a unique position to take advantage of these vast opportunities that are present in today’s market.

Forward-Looking Statement

This press release may contain “forward-looking statements” defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.

Company Ratings: D&B Credibility Platinum

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