Can't answer that question, but look at the news release today. The structure of it and the details are much different than prior releases. I believe R. Michael was told what to say and how to say it. In the real world of manufacturing, business pla and forecasts are made only to be changed the next day. Granted, we had individuals here that skewed reality butthe real world is not perfect, even without liars. We all want instant gratification with our stocks and every day without news now is painful but you have to realize that no news here is a beneficial change for Black Dragon which will ultimately reveal better days. I have confirmed statements that were made about drilling and production, but posting them would be a waste of time because the board is so negative. The good news will have to be provided by BDGR when ready.

"millionaire" rest assured Barry is not at the bottom of Caddo Lake.

I can't swim, but the boat could be named " My little darling dragon".

The good news is about to start.

Does anyone have Barry's cell phone #? If you do not want to post it, let me know and I'll give you an email address.

Spunky, you are right, getting the SEC involved or lawyers in the wrong capacity will get shareholders zero. This has been confirmed by a lawyer involved in the securities industry. Other more beneficial approaches for shareholders are being investigated. The more shareholders and shares involved, the better. Call CT for more info on participation.

Obviously, working late has made the spouse start smoking and drinking on the job.

My perception of investing as gambling applies to all stocks. Badrguy stated that someone like Buffett may not consider it gambling. If Buffett buys a company, he is betting on the actual company. Small investors are betting on the perceived price of a company's stock, which, most of the time has nothing to do with actual value or reality, but the psychology of individuals.

I do not want to be too wordy(already have been), but in relation to BDGR, I believe the perception in the present price of the stock is that this is a scam. Now is the time to place your bets, is it or not?

My definition of perception in relation to stocks is based on my perverted, yet I believe accurate, belief that the market is a legalized gambling arena. I try to keep my perception of value based on facts, but I may look at different factors in a company than you do and neither of us is right or wrong. If I go in and buy Black Dragon for a price, that is what the value is for that day and people will then debate if it was too much or too little, again one's perception. Other than that, I am betting on what other people's perception of a stock is going to be. Again, my perverted perception of what I believe is a form of gambling. A lot of fun though.

badrguy- Here's a few, they all have plusses and minuses related to comparisons but if you look at revenue, income, market cap, reserves, or wishful thinking(development companies), you can price BDGR much higher. You can find many more if you look. BPI Energy Holdings, CanArgo Energy Corporation, Dune Energy, Evolution Petroleum, Exeter Resource, GeoGlobal Resources, Houston American Energy. Remember, stock price is related to one important thing, people's perception, value is relative. At the moment, people's perception of BDGR is in the sh*****. I believe this will be corrected shortly, my perception.

If you look at similar oil and gas companies that are audited and listed on the Nasdaq.ob or Amex that have comparable revenue and income, it is very easy to find them listed at $2+. What you have now is a stock that, at the present time, is being priced as a scam.

Badrguy, my only concern, once again is that if whatever action is taken kills the company, then there is nothing to compensate shareholders. You can go after individuals, but if you refer to past cases, they provide little compensation to shareholders, any at all usually ends up with the lawyers. I am open to anything that protects the assets of the company. Revenge does not give me any money. Put them in jail and give us the company, that is sweet revenge.

i think there has been false and misleading statements. I also know there are assets. I would not want the SEC to fix the problem and kill the company. Just as I believe filing a lawsuit will only make the lawyers richer. If the SEC would remove the "questionables" from the board while the investigation is going on, now I would love that. If the SEC is working for the shareholders, this would be ideal. I am just not assured that this is the route that would be taken. I do not believe the SEC can force them to step down. If anyone has more info on this that is constructive, please enlighten us all.

mgk65- I believe the proper amounts are 4.5 million preferred and 58 million common, which is now higher. Some zeroes and proper explanations have been left off.

Oh I just remembered, there has been an ice storm down there. Joe and the gang are all probably skating on Caddo Lake.

They are in another "time" zone and they probably do not get up that early in La. So they could be waiting until after the close or some other excuse which I do not want to hear.

Fishing Fund, what are your conclusions based on those reports from the SEC?

The question with the number of shares is how many were done illegally. When did you see the last announcement and report of the shareholders meeting? When you cross a threshold number in the amount of shareholders you must do this and Black Dragon is well above that number of shareholders.

The insiders do not control 50% of the company, cameraturret is working on the votes now. If you check into Delaware law, it appears they have violated several rules of Delaware corporate law. It is not their company, it is the stockholders.

Hi Spunky, I believe there is some of both(scam and incompetence) involved. Without the addition of the CFO(Barry), I would have to say that BDGR was a company to benefit its principals and noone else. My research tells me there are assets, but until I see an audit, I cannot confirm the amount. Barry has stated the numbers for the audit are going this week, until confirmed, the questions will remain. If this was a scam,an outsider(Barry) would not have been brought in to do the books. Are the original parties incompetent? Obviously, if this is a scam they are not even running that the right way. In the next few days to weeks, we will find out about the legitimacy of all this. If legitmate, the principals have failed to act according to SEC rules and I want the shareholders to remove them in accordance with SEC rules.

Low production or "stripper" wells make up the majority of wells in this country. They have been in existence for years and at much lower oil prices. The key, as I mentioned in my other post, is the ability to run the business properly and that is what needs to be done. Without fraud or improper business decisions, this is a money maker. Also, my research tells me that BDGR's wells averaged 3+ barrels a day recently. I could get a better breakdown on one well vs. another but right at the moment I do not have the time.

As shareholders we are the owners of the company and the officers of the company are working for us. Although it is hard to determine the "actual" number of shares, I believe we can influence the direction of this company. Initially, I was intrigued by the concept of mature wells and the overall outlook in the energy field. All my investigation shows that this company has assets and I want "my" assets handled in the proper way. I am not interested in lawsuits, I know the right people in that field that could raise hell there, but I am not interested in making them richer, becaues that is all that would produce, other than some satisfaction of jail time. I am looking to provide the right management for a good concept. At this time, the only person that seems reliable is Barry, but this is from a very distant look. If we could stop all the BS here and concentrate on making this company better, we could make a great statement about the concept of the "message boards". Count me in for changing the board of "our" company.

They have been constantly issuing shares for oil properties and that is why the number is now greater. Someone should instruct them not to issue shares when share value is low, you should sell stock for assets when share price is high.

My response was in reference to your comment made to millionairedreamer and the comments that were made by him and the timeline he presented.

Based on the info I was told, the time line on the audit is about the same. There was no definite committment to before the holidays and when you are involved in accounting for a company being compiled by one individual, time lines run later than forecasted. For myself, the situation remains the same, people's interpretations are changing. Also, if people want some production data, Sonris can help if you are diligent. Also, we do have a hard revenue figure if anyone was paying attention.

Good point about the increase in OS, but the same effect can also be realized when a larger shareholder disposes a significant amount of their shares into the market... I'm not convinced yet that a market top is in place, but there will be one between now and August and entering a defensive posture now is not a crazy idea.

Most of the posts today have been bashers who seem to be dealing in speculation and hype rather than fact. Basher's whose intention is to accumulate shares at cheaper prices would certainly be considered involved here. I cannot believe anyone would short a stock at .25, but I imagine they are out there also, and I hope there are a lot of those because one of these days they will become buyers. The unusual amount of time without official announcements has allowed the dramatic theater to intensify around this stock. I speculate that the official silence from the company should give the doubters some reason to worry. This is my speculation, not some twisted fantasy as others profess.

Barry will be back from the Boston area the end of next week.

I am certainly not going to deny that J.Lanza is or was a problem. To my knowledge it was only one conviction and the fine associated with it was not excessive. Many sons and daughters are involved with their parents' businesses, doesn't make them criminals. The fact that there are many "corporations" raises a flag, but many businesses do this legally to reduce taxes and, or liability. If he has been barred from stocks this could be another reason and it may not necessarily have criminal intent. In regard to certain people linking together, I get the impression that the Lanza"s owned some of the mineral rights. Of course all of this would be better for BDGR if certain people didn't have a history, but I will go back to a point I have made before. The apparent attempt by BDGR to get the audits and their seeming attempt to get their house in order, leaves me with the most imortant question, what are their assets, potential revenue and earnings? The release of the audit will answer a great deal of this and render the scandal stories hopefully in their proper place, forgotten.

You can go to Sonris and get the number of active and inactive injection wells by the "operators". At first glance, I did not see a vast majority of those types of wells for the companies associated with BDGR, although this is a difficult area to ascertain.

I'm not as worried about production figures, they can be determined. The bigger issue for me is, is money being drained off of Black Dragon in the form of stock or cash that should belong to the company and its shareholders.

Despite all this speculation on owner's, assets, crooks, etc., the basic question remains is BDGR's assets worth more based on it becoming an audited company than its present stock price reflects? The PV-10 analysis provided a first step and the "expected" audit will be the next step? Place your bets now.

At this point I would be wary of anyone or anything connected to Lanza and that includes BDGR until proven otherwise. Some of the prior misinformation of BDGR may be related to poor management or maybe something else related to J. Lanza's past. Other than that my "real name" and "singing" statement was my constant attempt not to take anything, including myself, to seriuosly. On that note, has anyone been to the restaurant? And taking away the prior SEC situation, you could reasonably assume that they are diversified in various businesses, for all the right reasons.

Reserve report that was done by an independent firm should have not included in their report any wells that were in dispute. I would expect that their report would include verification of ownership, but that is something I would do.
I do remember a statement by RM about disputed ownership, but I do not have details. We do know about Lanza's events in California which probably included barring him from dealings in stocks, hence the many "corporations" associated with his name. Do you have any info on OMDA? I cannot find any info on their ownership of wells in LA.

To Fishing Fund, Thanks for SNIC, I tend to trade indexes more than stocks except for a few pets like BDGR. I will put it in my file though. For me, the pivot point on SNIC is 17, long or short around that price.

I do not know if the news coming out is related to the audit because, as you stated, that will probably take several weeks. I would only be speculating on what other news it might be. Quarterly earnings, acquisitions, Lanza's real name, can he sing, who knows?

Financials are done. News coming within a couple of weeks that will move the stock. This info from what is believed to be one of the few reliable sources associated with this stock. Maybe this is why the stock was up on larger volume.

I do not know about the promotional part but I suspect they would have to do with stock transactions because of the individual's past. Well I see no trades in the market for me today, so I'm going to work. Nice talking to all of you and thanks for any info.

Some of those companies that listed are companies that BDGR does "business" with. It is the ones that are not listed that I was inquiring about because I'm interested to see if they are "shell" corporations because of someone's background.