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Tomorrow will be even bigger volume!!!!!
And bigger move up of course and YES, I do agree with you Derekz, September is the month for BDGR to break new highs.
Good luck to all.
Bash all you want but be careful!!!!!
Next week will tell if the MM sees it this way too.
I doubt very much that but I will give you the benefit of the doubt...
Remember one thing though, Red chip will not risk its reputation for a few thousands dollars, these are just analysts and reporting fees and for them getting the company’s stock that is more evident they believe in the company’s future.
Good luck trading.
Over all it's obviously a GOOG NEWS!!!!!
However you want to look at it, the end result is the MM liked the news and the needed volume for a breakout came along just fine.
I am sure this will continue next week with more up days than down and it will be really hard to play catch with it before it really explodes.
Good trading to everybody.
More good news to come next Week!!!!
This is the start of a real climb to the $4.0 range.
Just read the Red Chip report and you will understand what I mean!!!!
More Good News!!!!!!
Look for a good POP tomorrow!!!!!!
Black Dragon Announces Record Sales of 10,000 Barrels of Oil and or Equivalent for the Month of August 2006
Thursday August 31, 6:22 pm ET
Substantial Progress Made In Bringing Into Production Recent Acquisitions
OIL CITY, La.--(BUSINESS WIRE)--Aug. 31, 2006--Black Dragon Resource Companies ((OTCPK: BDGR) announced today that it had achieved record monthly oil and oil equivalent sales in the month of August. The company recorded sales in excess of 10,000 barrels of oil equivalent in August.
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The company further announced that they have completed an additional well which has returned to production at the recently acquired Spider Field, located in Desoto Parish, Louisiana. The fourth well purchased will be brought back to production in the next ten days. This will increase the 10,000 production by at least 10 percent upon the full completion of all four wells at the Spider Field.
Substantial progress was also made in bringing into production the facilities at the Arkana field located in Bossier Parish, Louisiana. The Company has successfully hooked up one of the two existing wells to the Apache Corporation gas sales pipeline and to tank batteries for oil production, and is currently generating production of oil and gas. The company anticipates hooking up the additional well sometime during the month of September.
"This is the largest month in the history of the company and we are making significant progress toward our year end goal of 1,000 barrels per day," according to Mr. Richard Michael, President of Black Dragon.
Black Dragon also reported today an important acquisition of equipment to its plant and equipment infrastructure. The Company has obtained exclusive use of a drilling rig capable of drilling to a depth of 3,000 feet. This equipment allows the company to aggressively pursue its previously stated program of drilling new wells on its existing properties and increase its salt water disposal infra-structure adding significant production in the fourth quarter.
According to Mr. Michael, recoverable oil in place as estimated in recent engineering reports without the inclusion of these two newest properties is in excess of 168,000,000 barrels.
About Black Dragon:
Black Dragon Resource Companies, Inc. is oil and gas production company focused on the acquisition of mature, producing and existing U.S. oil and gas fields. The Company's focus on mature, domestic oil fields eliminates exploration risk, reducing costs, and provides immediate 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 such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Black Dragon Resource Companies, Inc.
Rick Michael, 512-442-4151
www.black-dragonoil.com
Good News!!!!!!
Press Release Source: Black Dragon Resource Companies, Inc.
Black Dragon Resource Companies Announces New Accretive Acquisition of Working Interest in Spider Field Located in Desoto Parish, La.
Monday August 28, 5:51 pm ET
8 Oil and Gas Wells Will Add at Least $1 Million of Additional Revenues to Black Dragon in the Next Twelve Months
AUSTIN, Texas--(BUSINESS WIRE)--Aug. 28, 2006--Black Dragon Resource Companies, Inc. (OTCPK: BDGR) announced today that it has acquired a net revenue interest of 22.2% in the 1275 acre Hunter-Mannning lease of the Spider Field, located in Desoto Parish, Louisiana (just southeast of Shreveport). The lease contains eight wells recently drilled and completed in the Paluxy sands. The first four of these wells have been completed and have generated almost $1 million of oil and gas production in the last six months. Two of the remaining wells have been completed in the last week and are producing at comparable rates with their companions. The remaining two wells will be completed within the next two weeks. The open hole logs on these last two wells are very similar to the other six and substantial production is expected. The interest acquired by Black Dragon includes mineral rights in all depths. The interest and rights to cash flow for the property begins on July 1, 2006 .The acquisition was for a total purchase price of $2 million which was paid for as cash and a sellers note by Black Dragon.
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According to Richard Michael, President of Black Dragon, "This acquisition is great news for Black Dragon as it provides immediate additional cash flow and the 1275 acres that will be developed offer the Company another important geographic area to add to our growing property portfolio. We expect the 8 wells to add at least $80,000 a month or approximately $1 million of additional cash flow to the company." The Hunter-Manning lease is immediately north and east of successful drilling in the James Lime formation (5500 feet below the surface) and stratographic open hole logs on the 8 existing wells show a significant Annona Chalk zone above the Paluxy. "We anticipate additional drilling over the next year to successfully exploit these other depths and further increase our revenue from this project," added Michael.
NEWS NEWS NEWS !!!!!!!!!!!
Press Release Source: Black Dragon Resource Companies, Inc.
Black Dragon Announces Revenues for First Six Months of 2006
Wednesday August 23, 5:31 pm ET
400% Year to Year Growth
AUSTIN, Texas--(BUSINESS WIRE)--Aug. 23, 2006--Black Dragon Resource Companies, Inc. (OTCPK: BDGR)-today announced unaudited revenue results for the first six months of the calendar year 2006 ending on June 30, 2006. Revenues for the period were approximately $1,644,543 compared to $406,336 for the same period in 2005, or a 400% year to year increase, and a 450% increase in the second quarter from the same period in 2005.
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Rick Michael, President of Black Dragon stated, "Our revenue results show that Black Dragon is experiencing rapid growth based on our previously announced acquisitions and our commitment of resources to bring these properties into production. During the quarter, we were able to raise over $900,000 of additional equity which we employed in purchasing and in bringing the companies Caddo Lakes and Hosston Field properties into production.
The Company's previously announced target of $4 million of revenues for the quarter ended June 30, 2006 was impacted by various unanticipated factors that delayed the bringing on line of certain of its properties. The $4 million had anticipated production during the quarter from the Haynesville Field which was offline for a period of time during the quarter due to an unexpected breakdown of its salt water disposal system that has subsequently been placed back into service. This Field is now in full production and is producing at the rate of 2,000 barrels of oil per month as had been expected.
A similar delay was encountered in closing the purchase of the shallow rights beneath Caddo Lake while counsel for both buyer and seller resolved outstanding issues with potential third party claimants. Black Dragon did not get credit for the production from those wells until after the closing. "The Caddo Lake property is now also in full production and is generating 2,000 barrels per month as originally anticipated. We expect to show additional progress and growth with both the Caddo Lakes and Hosston Field properties in the second half of the year," said Mr. Michael. "The Company is also connecting its recently acquired Arkana field gas wells to the sales line, will acquire new properties on a regular basis and will soon begin its drilling program on Caddo Lake. The Company continues to maintain its target of 30,000 barrels per month production rate by the end of 2006," added Mr. Michael. The revenue target for 2006 is now expected to be at an annual revenue run rate by the end of the calendar year of approximately $14 million in light of the delays experienced, as discussed above.
The Company expects the near term completion of its audit and all of the numbers outlined above are subject to such audit.
About Black Dragon:
Black Dragon Resource Companies, Inc. is oil and gas production company focused on the acquisition of mature, producing and existing U.S. oil and gas fields. The Company's focus on mature, domestic oil fields eliminates exploration risk, reducing costs, and provides immediate 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 such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Contact:
Black Dragon Resource Companies, Inc.
Rick Michael, 512-442-4151
rick.michael@sbcglobal.net
or
Strategic Growth International, Inc.
Stan Altschuler / Richard E. Cooper, 212-838-1444
SAltschuler@sgi-ir.com / RCooper@sgi-ir.com
--------------------------------------------------------------------------------
LET IT BEGIN!!!!!
LET IT BEGIN!!!!!!!
Calm down willie mac. It will go up tomorrow.
The MMs are in control now and will not let it go up now. Only when the market rebounds.
Lots of manipulation is going on on this stock!!!
Be patient.
Value trader
Good to see you are back Firehawk. Maybe you are back to get your money back? Or to make more money? either way, I will take that as a good sign for things to come!!!
Value trader
Like you say it.. "JUST YOUR PERSONAL OPINION" Right?
Well, let me put it this way,
OMOG spend their time suing others and wasting investors’ money and BDGR spend their time selling OIL and expanding investors’ money, which one do you see more valued by the market?
The numbers are all there for any blind man to see and judge for himself.
BDGR at 1.40 and going up rapidly and OMOG at 0.005 and going no where for a long time!!!!!!
Make your call.
Value trader
This is what others thinks of your Adam!!!!!!!!
No other comment!!!!!!
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Young Oil Corp. Says OMDA Oil & Gas, Inc. (OTC Pink Sheets: OMOG) Lawsuit is all About Dry Holes
Wednesday May 31, 7:00 am ET
KNOB LICK, Ky., May 31 /PRNewswire/ -- The lawsuit recently filed against Young Oil Corporation and others by OMDA Oil & Gas, Inc. (OTC Pink Sheets: OMOG - News) is nothing more than an attempt by OMDA to get their money back after not getting the results they wanted for some of the wells drilled with Young Oil, a company executive said here today.
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"Every oil and gas man knows there are no guarantees in well drilling and you don't get your money back if you drill a dry hole. We will not give their money back and we will vigorously defend this baseless suit," said owner and founder Anthony Young, CEO, of Young Oil Corp.
"We have one of the best commercial well to dry hole ratios in the state of Tennessee. Since 1995, we have drilled literally hundreds of producing wells; however, from time to time, dry holes are a fact of life in the oil and gas business," stated Mr. Young.
State of Tennessee Geologist, Ronald P. Zurawski, said, "In 2004, the overall success rate for all drillers in Tennessee was slightly more than 17%."
"This was a one time shot for OMDA. When we gave them the bad news, they cried foul and wanted their money back. We offered to try to resolve the matter but they declined. They told us they weren't interested in doing so," said Mr. Young.
"The next thing we know, they file a lawsuit in Texas accusing us, among a host of other things, of failing to drill wells, some of which their company representatives actually watched being drilled when they toured the field. They have made so many convoluted and twisted allegations of the facts that I look forward to having the truth come out. These distortions have personally greatly offended me and have caused our company harm. We will aggressively defend this lawsuit and take whatever actions and counterclaims that are available," stated Mr. Young.
"OMDA's history appears to be one of making a practice of being in litigation or in announcing transactions and then canceling them. One really wonders what their real business motivations and objectives are, given their track record," Young noted.
Young Oil Corporation is a privately owned oil and gas exploration and production firm, with operations in Kentucky and Tennessee. Anthony Young personally has twice been awarded Oil Man of the Year for his performance and contributions to the oil and gas industry in the State of Tennessee and has been featured in newspapers, television and radio shows around the world.
Thanks all for confirming your existance yet.
I think the market has hit bottom yesterday and ready to rebound from this point.
Like I said before, the worse for PGPM is over and the only way is up from here. however, it will take some time (2 to 3 months)and a lot of effort from the company side to drive the SP up.
They made too many bad moves to drive the SP up on false statements which made them lose investors confidence and respect. They need to regain that confidence and respect then they can move on.
I hope they do understand this and work towards fixing it.
Good luck to all longs.
Value trader
Good morning nathanial,
Seems we are the only two left here...
Just bought 20K at .072 to lower my average. I bought almost all at 0.17.
I am hanging on till a little good news come and left up this depresed stock then sell some but I may choose to hang up till August when the stock market rebounds from this heavy sell off.
Good luck to you and all longs.
Value trader
I am not so sure about a rebound this afternoon Willie,
It's a bad day on the Market overall and people are not really sure what's going to happen next. In my opinion this create a perfect buying opportunity if I had the money...
Any how, the management still has a lot of work to do to regain the investors trust and start rebuliding its lost creditability.
like I said before, the worest is behind us now and the only way is up. Still looking for a good PR this week though.
Good luck to longs.
Value trader
As you all know by now.. they can choose not to release any PR due to the market condition. Based on past PRs release timing I think they are been very selective in their release timing to get maximum or minimum effect for that matter.
Botton line, it will come soon but not soon enough for me of for other people in the red.
Good luck to all.
Value trader
Look for a very important PR tomorrow!!!!!
People who wanted out are out. Time to get back up, and pretty fast from here. OIL to $100 SOON...
Value trader
Willie mac, I am with you and please keep posting your opinion and DD. We have all invested or hard earned money and will be waiting and hoping for a rebound.
I am holding to my shares and like I said before I think the worse is behined us. Looking for a pop next week.
Value trader
OK guys, yesterday was the big dump and today is the second wave for the people who were not available to sell yesterday.
Here is what we all know by now:
1. Company made bang with May 01 PR.
2. People invested in the company based on that PR.
3. Company hired a service company and leased more lands with more marginal wells.
4. Company will change to by fully SEC reporting company.
5. Company went and got third party evaluation to confirm the PR.
6. Company waited 4 days after their meeting with Gustavson tom release the report.
7. Company released the report and the stock lost half its value.
8. Company is in damage control mode releasing another PR to say we might worth more than that based on future moves.
Based on all the above moves and the reaction associated with each move I can honestly say the following:
1. Management is very unprofessional
2. Management lost their creditability
3. Company lost its creditability
As a result investors lost interest and many decided to move on to a more trust worth company where they hope not to lose money and actually make up for the money they lost here.
However, the company hiring the wells service company and leasing more lands and releasing PR about the SEC reporting and other damage control PRs. indicate that they are serious about their business and determined to make it succeed.
Obviously, they will need to do a lot of hard work to gain investor confidence back (Revenue and Accurate Daily production) and eventually adding THE VALUE they are talking about.
Question is, what to do now?
People who sold and still lingering here should move on to other solid and more established companies.
People who did not sell and are in the red should not sell for a loss but stick around and waited it out.
Everybody knows perfectly well or should know that OIL is peaking very rapidly and that demand is growing much faster than the number of refineries out there.
That is why Pilgrim and the like companies decided to get into this business and buy or lease any piece of land that may have any Oil and try to squeeze it out and sell it.
Bottom line is, they are a small starting company who is trying to make money but they need a lot of money to do it.
Reasons to invest in it:
1. Cheap with lots of potentials if successful.
2. The worst is over now and if the next moves are good ones the stock will move up and never look down again.
3. Management learned an important lesson and will never forget it.
Well, these are my thoughts and I am currently invested in this company and will continue to do so.
Hope every body has a good evening and good luck longs.
Value trader
Don't want to say "TOLD YOU SO" but,
"TOLD YOU SO", there.
Panic, Fear and Greed are your worst enemies in the stock market. Patience pay!!
Good trading and good luck.
Stick around; it sure will be more fun from this point on...
Value trader
Just so that everybody is CLAER,
This is not only penny stock but PK stock as well (i.e. it is and will continue to be manipulated by the MM for as long as it remain a PK and a penny stock).
They will bring it down, load up, drive it up, sell it then do it all over again.
So, just relax and enjoy the ride if you are a long since all OIL stocks are expected to rebound big in the next couple of months or you can trade it if you wish. Admittedly, it will be very hard to time the market and the PRs. So, I am sticking around till January 07 and I am sure it will be at $0.5 by then.
P.S. don't let the MM scare you with their techniques!!!
Good luck.
Value trader
Again, Is that your final answer?
Please don't be so pissed. Everybody losses money on the stock market. I know it's hard earned money, so if you don't let emotions cloud your judgment you will eventually make money.
I just wish I had more money to buy at this price!!
Watch and learn.
Value trader
Is that your final answer?
Because, you will regret it very soon!!!!!
Value trader
So to sum up,
Pilgrim is valued at $0.09 now. Well, to me that is much better valuation than $0.02 where it was couple of month ago. And you know what, if this is its value now, and with all the potential of more acquisitions and partnerships and higher oil prices and global demand I can only see the price it moving up.
OK, the company made a bang with the 900 number but they were honest enough to get accurate and more realistic valuation for their property. I think this is a huge step towards transperncy and good deeds.
SP will rebound in the next few days with more good news about the SEC reporting and more acquisitions.
Watch and learn.
Value trader
Again,
You, I or any one individual has a mute effect on the SP.
It is when the MM decide to drop the ball is when you should get scared abd run away with your money.
Now, does any body see this happening? I would say, NO.
On the contrary, I see support building up and I see a new base being established based on more realistic valuation and expectations.
Good luck to all but DO THINK before you take a quick action you will regret.
I have made too many mistakes letting emotions guide my trading decision but not any more. This one is a good one to keep under the current Oil market.
Good luck to all
Value trader
Just so you guys know,
This is will be up and above by the end of the day. And YES, there are group of people who pumped this stock and now they are scaring people of their shares.
The evaluation is very reasonable based on their property size and location and it does confirm their reserve estimate in a more realistic manner.
Any body that had unrealistic expectations is of course disappointed but it was unrealistic after all.
Hang on tight to your shares and you will be rewarded soon.
Value trader
FireHawk,
Replied to your message.
Sent email to your other listed email accout instead.
I hope I got it right.
looking forward to your reply.
Thnx,
Value trader
This is a good CEO!!!
A CEO who knows when to release or not to release critical PR is a good CEO. No CEO in his right mind would release the valuation PR before a long weekend. The effect will be gone by the time investors are back.
Been into a Bio company where the CEO chose to release an FDA approval for their lung cancer deveice at 11:00 PM on along weekend. Believe me guys, that killed it right there!!
Looking forward to Tuesday, Good luck to all.
P.S. Firehawk, if I remember correctly you said sometime ago that you are waiting for this big PR to sell all you've got. Do you still hold this opinion?
I hope you don't because I strongly believe in this company and its CEO.
Value Trader
And you guys don't think they had not done this already before they bought the property?????
I have been following this company since they reported 1st Qtr results and based on all their actions to-date I have to say that they are doing the right things as fast as the market is allowing them to do.
Have to say though, that the PRs made to date and their timing and can make one a bit suspicious. Either they already had a plan in place anticipating every market reaction to each PR and how to respond back to calm and ensure inventors or this is the biggest scam ever done.
Any how, we’ll all now soon enough.
Good luck to all.