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Shareholder, The new management is in Oil City and if you want to know who is holding up the PR's you must ask yourself why BDGR's ex counsel has not released the PR account to new management.
contact John Frohling 973-622-2800
LGL, everyone has a new fuel and most will be full of gas. Let's talk about some gas( and oil) that is real and nearby.
Samson Contour Energy E&P, LLC
Well serial # 236196
Depth 9000+ feet
Seems to be producing a bit of gas and a little oil(1100 barrels/month)
Where do you think it is located? Field ID 2152
Caddo Pine Island
Check the coordinates out.
He is there with a leash.
Hey everyone, there is proof positive in Spunky's statement. You can see the calm, confidence, and relief in his statement. He is enlightened! And I believe there is more to come.
Kenco, I understand that you do not know who the three new persons are and I know you know the past situations. The two other people with Mr. Smith are his people. Joe doe not have control of the board. You can verify this if you wnt to. It has changed, stay tuned.
Kenco, you are right "if" he did. I am not dealing in ifs.
I'm Ed, Read the PR, he is out as president and COB, and he is out of control of the board and the company.
My belief on OMDA is that it does not go to trial, Barnett would have to issue another 500 billion shares to pay for a lawyer.
Swordchaser, Lou can speak for himself, you can believe what you want, bitterness may make you a fool. Once again, five board members , 3 are the new management, so you tally any board vote 3/2. I suggest you contact the new management and ask the questions you think you know the answers for.
Swordchaser, You said it right at the end when you stated you do not know all the facts. First of all, the PR was not written by JL or released by JL, contact Clyde or Darrell if you'd like to verify(name is at the bottom of the PR). Second, JL does not have the controlling shares or control of the board(so he cannot create controlling shares). Third, the 100 million funding was a Lanza scam, this is not. After all the failed efforts and frustrations it would be hard for anyone to think it has changed, but as strange as it seems, it has.
Kenco, you are absolutely right. Now let's do the math. JL, TN, new members, Smith, Kelsoe, and Watson. My vote count makes that 3 to 2 against JL. The new members control the board, therefore they are in control of the company, not to mention president and CEO.
On OMDA, you need to research that a little more. Barnett's had some issues with a star witness, along with some other facts. So I think the number of questions on leases is zero or very close to zero. Thanks for your efforts.
Kenco, why do you think the shares have to cross the tape?
doc_cc If you've been a reader for awhile you know nothing with this company has been easy to resolve. JL has been an impediment to any positive resolution to shareholders, but now his actions are being unwound. Websites and pr's will be resolved, but I would rather have Mr.Smith and Mr. Kelsoe working on the operations(the remainder will come with time). I believe the only relationship that that Mr. Smith and Mr.Kelsoe have had with JL is to sucessfully attain JL's departure from the Company. And to that I say thank you.
I just located this pr off of my data service that subcribes to M2 Presswire
M2 PressWIRE Archives
Black Dragon Resource Companies Inc., announces that for the six month period ending June 30, 2008, estimated gross revenue to be over $2,600,000.00, and a change in management
Published in M2 PressWIRE on Tuesday, 15 July 2008 at 13:01 GMT
Copyright (C) 2008, M2 Communications Ltd.
OIL CITY, La. - Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), through Mr. Joseph Lanza today announced that for the six month period ending June 30, 2008, estimated gross revenue were over $2,600,000.00.
Mr. Lanza also announced his resignation as President of Black Dragon. He went on to state that he and the Board had been in negotiations since October 2007, looking for a new management team and funding for Black Dragon and it shareholders, and of all those interviewed, Mr. Clyde Smith and Darrell Kelsoe were two people that proved to have far more experience than current management, plus were willing to invest the necessary funds in the company. It was Mr. Lanzaa and the current Boards opinion that most of the other parties interviewed were trying to see how much they could get from Black Dragon.
The current Board appointed Mr. Clyde Smith acting President and Chairman and appointed Mr. Clyde Smith, Mr. Darrell Kelsoe, and Mr. William B. Watson, III to the Board of Directors. Mr. Kelsoe was also appointed Chief Operating Officer. Mr. Nick Ronsheimer has resigned from the Board of Directors. All elections, appointments and resignations are effective as of 7:00 AM July 13, 2008.
New Management takes over operations on Monday, July 14, 2008.
The new management intends to bring in additional funding for the Company in the form of both debt and equity. The new funds will be utilized to put more wells into production of both gas and oil. The Company also plans to maximize its potential in deep well exploration. Management is currently moving the Companys corporate offices to a new location.
Mr. Smith has over 14 years experience in the oil and gas business. He was president and owner of an oil and gas operating company involved in leasing, drilling and reworking oil and gas wells in Mississippi, Louisiana and Texas for independent and major oil Companies. Mr. Smith was one of the first to successfully utilize satellite imaging to assist in the determination of drilling sites. Mr. Smiths career also includes 22 years in research and development with Monsanto Corporation.
Mr. Kelsoe has forty years experience in process engineering and chemical manufacturing. He has worked in North America-Central America and South America in the chemical manufacturing for the wood treating, pulp and paper and down whole oil well solvents. He has engineered and constructed projects for International Paper Company, Beaverbrook Foundation (London) and other fortune 500 company. He also holds many current US Patents for the manufacture of cellulose treatment processes and down hole solvents.
I am extremely excited about the promise of the Black Dragon properties and will make every attempt to regain shareholders confidence and increase share value, stated Mr. Clyde Smith, CEO of Black Dragon Recourse Companies, Inc. Our management team will immediately begin to execute our strategic plan of increasing current production, getting additional leases in production and exploring the potential of additional deeper pay zones.
About Black Dragon Resource Companies, Inc.
(www.black-dragonoil.com) Black Dragon currently leases 6000 acres containing 1100 oil or gas wells with 275 in operation. The Company specializes in increasing the production of crude oil or gas from low producing wells by using modern production techniques. This represents a significant opportunity to capitalize on todays oil and gas prices, while lessening domestic dependence on foreign oil. Black Dragon will continue to acquire additional wells in the oil-rich regions of Louisiana and Eastern Texas.
Forward Looking Statements:
Statements made in this release with the respect to the Company's current plans, estimates, strategies and beliefs and other statements that are not historical are forward-looking statements. Forward-looking statements include, but are not limited to, those statements using words such as "believe," "expect," "plans," "strategy," prospects," "forecast," "estimate," "project," "anticipate," "aim," "may" or "might" and words of similar meaning in connection with a discussion of future operations, financial performance, vents or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management's assumptions and belief in light of the information currently available to it. The company cautions you that a number of important risks and uncertainties could cause actual results to materially differ from those discussed in the forward-looking statements, and therefore, you should not place undue reliance on them. You also should not rely on any obligation of the Company to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The company disclaims any such obligation unless required by law. Risks and uncertainties that might affect the Company include, but are not limited to (i) the economic and environmental sectors in which the Company operates, as well as the price of oil, (ii) Management's ability to re-capitalize Black Dragon through a combination of additional debt and primarily equity financing and to successfully complete the remaining research and development of its oil and gas properties, as well as other factors, risks and uncertainties that may have material adverse impacts.
For further information, please contact:
Mr. Clyde Smith, President, Black Dragon Resource Companies, Inc.
Release date: 14 Jul 2008
No Dragonman, real principals.
Word has it that there are two new faces in Oil City.
Word on the street indicates that BDGR shareholders will get their wish.
Oil's well that ends well.
I'm surprised noone has mentioned the PR on Caddo today and how it relates to Black Dragon. Do you think Joe has has an awakening of conscience?
Kenco, you don't get out much I guess. In today's world you could log on to my computer and post your "stories" with your alias and password. Isn't technology great. Dream what you want, I intend on staying in reality.
Kenco, Try to make better statements. I am not Lou, easily verifiable by many who have posted here, unlike many of your statements.
A few of the recent posts indicate that some people do not know what is going on and their frustration is being shown by sitting in front of a computer typing their rants instead of putting any effort into correcting the situation, present or past.
Maverick, As an owner of an asset, you would want to sell it when the price is parabollic, not when it is dead and you are forced to sell, like real estate now. Also, there could be other factors pressing JL to sell.
LGL, I have been around, just quiet and observing. Does anyone haveany credible info on the hospital rumor?
LGL, maybe that is why the stock has gone up.
To the shareholders of BDGR.
I have been obviously absent from this board for some time as I am not sure this is a suitable venue for the flow of information from myself to shareholders. However, in the light of recent events I feel obligated to present some facts.
Firstly, I did not vote for Joe to get any shares! That is a lie.
And a phone call to Tom Neely got an odd responce, "I know nothing about Joe getting 56 mil. shares or 30 plus mil to others". BTW, the shares are dated, Oct. 31st.
Upabuck said that many CEO's get great packages on departure even if they didn't do a good job. That is correct, but the one's from enron got jail time instead. We are not talking about a failure to enrich the shareholders. We are talking about joe enriching himself and family at our expence. Outrigtht fraud and theft.
Someone also mentioned 30 mil. in funding Joe blew in 2006. That funding package was put in place by Peter Lau. When Joe couldn't produce an audit for that funding, Mr. Mcfarlin was brought in to help. When Barry found out the pilfering Joe had done, it was found that the company could never be audited.
But then another white night came to rescue, an accociate of Peters offered to put up 750,000 to buy a shell to put the company in and merge it with two others, and we would be on the Amex. But Joe blew that too. He couldn't give up his money tree.
Should this deal go through, maybe. It might be good for the stock and the shareholders. It is too early to tell yet. Is anything better than Joe, yes! At the moment we will see what happens.
But for people like Nassie and a retired school teacher that I talked with that lost what would have been a help to her retirement. I will chase Joe until his dying days or until he makes restitution.
Lou
Good night to all and I do hope that BDGR is $1 tomorrow. Go Joe, you've done it before, let's see that magic again.
carlson, you should probably state that Frohling is Joe's attorney and if he has read Delaware law about conducting meetings he might have not had the oops meeting on Dec.22 and all the existing problems with this meeting. He has done real well with this so far, in my opinion.
Yankee07, On your watch is wrong, those shares were date of record 10-31-07. And by the way, whoever created them did not inform Lou who was on the BOD. I can appreciate your frustration, I am as well, but JL will only guarentee you a stock price of .0001, he has a proven track record for that. But I will give you this, there is manipulation also. If the stock went to .50 tomorrow, I would probably sell and be relieved, but there is other business to take care of because I do not like being ripped off.
There has been much discussion here from all sides. All, I assume, would like to see BDGR's stock rise and some would like to see the company prosper, albeit for varied reasons. Much emotion, and very few facts have always been the MO of the company. I would like to paste and post some facts.
First of all let's establish that Joe was a director at some point and probably still wants to be a director, at least at this time.
OIL CITY, LA--(MARKET WIRE)--Oct 23, 2007 -- Black Dragon Resource Companies, Inc. (Other OTC:BDGR.PK - News) announced today, in light of the recent removal of Michael Ellis as President of the Company, they are presently searching for a new executive officer.
ADVERTISEMENT
During the interim, the Board of Directors is operating the Company with an executive committee of Nick Ronsheimer-Director, Joe Lanza-Chairman & Director, Gary Zorne-Chief Financial Officer, Tom Neeley-Secretary & Director and Lou Chighisola-Director.
That was an Oct.23,2007 PR from BDGR stating at that time that JL was one of the directors.
Now let's go to the Delaware Corporate Law-Title 8 SubchapterIV
(c)(1) All corporations incorporated prior to July 1, 1996, shall be governed by paragraph (1) of this subsection, provided that any such corporation may by a resolution adopted by a majority of the whole board elect to be governed by paragraph (2) of this subsection, in which case paragraph (1) of this subsection shall not apply to such corporation. All corporations incorporated on or after July 1, 1996, shall be governed by paragraph (2) of this subsection. The board of directors may, by resolution passed by a majority of the whole board, designate 1 or more committees, each committee to consist of 1 or more of the directors of the corporation. The board may designate 1 or more directors as alternate members of any committee, who may replace any absent or disqualified member at any meeting of the committee. The bylaws may provide that in the absence or disqualification of a member of a committee, the member or members present at any meeting and not disqualified from voting, whether or not the member or members present constitute a quorum, may unanimously appoint another member of the board of directors to act at the meeting in the place of any such absent or disqualified member. Any such committee, to the extent provided in the resolution of the board of directors, or in the bylaws of the corporation, shall have and may exercise all the powers and authority of the board of directors in the management of the business and affairs of the corporation, and may authorize the seal of the corporation to be affixed to all papers which may require it; but no such committee shall have the power or authority in reference to amending the certificate of incorporation (except that a committee may, to the extent authorized in the resolution or resolutions providing for the issuance of shares of stock adopted by the board of directors as provided in subsection (a) of § 151 of this title, fix the designations and any of the preferences or rights of such shares relating to dividends, redemption, dissolution, any distribution of assets of the corporation or the conversion into, or the exchange of such shares for, shares of any other class or classes or any other series of the same or any other class or classes of stock of the corporation or fix the number of shares of any series of stock or authorize the increase or decrease of the shares of any series), adopting an agreement of merger or consolidation under § 251, § 252, § 254, § 255, § 256, § 257, § 258, § 263 or § 264 of this title, recommending to the stockholders the sale, lease or exchange of all or substantially all of the corporation's property and assets, recommending to the stockholders a dissolution of the corporation or a revocation of a dissolution, or amending the bylaws of the corporation; and, unless the resolution, bylaws or certificate of incorporation expressly so provides, no such committee shall have the power or authority to declare a dividend, to authorize the issuance of stock or to adopt a certificate of ownership and merger pursuant to § 253 of this title.
Without going into detail about other parts that are a problem, I am basically establishing the fact that directors do have a right to issue stock in a Delaware Corporation.
Now the last piece. I am typing this in word for word, it will not scan(must be using vetguy's scanner).
I.
It is hereby ordered, adjudged and decreed that Defendant Lanza, his agents, servants, employees, attorneys, and those persons in active concert or in participation with them who receive actual notice of this Final Judgement by personal service or otherwise, and each of them, be and they hereby are permanently restrained and enjoined from violating Section 5(a) and 5(c) of the Securities Act (15 U.S.C $$77e(a) and 77e(c)) by, directly or indirectly, in the absence of any applicable exemption:
a. making use by any means of transportation or communication in interstate commerce or of the mails to sell the securities of any issuer, through the use or medium of any prospectus or otherwise, unless and until a registration statement in effect as to such securities.
There is much more but it is just for the purpose of a tighter knot. If there are any questions regarding what BDGR's securities are refer to my post 12866. Bottom line, connect the dots, Joe was a director and still believes he is, he has issued in the past and probably the present, unregistered stock according to Delaware and the SEC. How the hell can he be conducting or even trying to call for a shareholder's meeting? How the hell can he negotiate with supposed potentail partners, suitors or whatever based on this? If anyone can explain this, I am willing to change my opinion.
Yankee07, very simple answer, you do not want to have an illegal meeting do you? JL does because it is the only way to try to survive with his backdoor deals. Anyone would vote for a legitimate deal that was a fair price for the company, but when someone is trying to manipulate a deal that steals from shareholders by payoffs and schemes, they should be prosecuted. This is all assuming there is a deal for the $12 Billion in reserves that noone knows about or can keep a straight face and my question is, how can the funding venture be legit when they are being fed this line of BS?
Also, do you approve of JL creating 80 million shares to rig the meeting and dilute your stock by over 1/3. Some people care about all the shareholders.
Lanzamustgo, That was my point Lanza and legitimate are not the same. I'll have more on that later.
Steve, you have to realize that some individuals are in this at a much lower cost and they are looking at this as a way to escape without much damage. And with no regard for the legitimate operation and control and future of the company.
WolfPack99, Call Lou at 781-585-7400, he will assist you in your investigation of the news media stories for Black Dragon. Thanks
When you acquire restricted securities or hold control securities, you must find an exemption from the SEC's registration requirements to sell them in the marketplace. Rule 144 allows public resale of restricted and control securities if a number of conditions are met. This overview tells you what you need to know about selling your restricted or control securities. It also describes how to have a restrictive legend removed.
What Are Restricted and Control Securities?
Restricted securities are securities acquired in unregistered, private sales from the issuer or from an affiliate of the issuer. Investors typically receive restricted securities through private placement offerings, Regulation D offerings, employee stock benefit plans, as compensation for professional services, or in exchange for providing "seed money" or start-up capital to the company.
Kenco, this is published from the SEC. I believe the confusion is in the timeline of the creation of a security. I agree restricted securities can become registered but the problem here is the actual birth of the security before it gets registered. As always, subject to legal interpretation, and I am not a securities expert but I do not think I am off on this.
Millionaire- When the legends of restrictive stock are removed and they go into street name, they become registered securities. So DOR 10-31-07 JL has 50 million restircted shares of stock, they are unregistered and the better question is where did they come, for what purpose, and who issued them?
Kenco, check your BDGR securities and see if they are registered.
kenco, JL does not have the right to isuue any shares, that was Kennedy's decree.
Carlsonmanu, please tell me your feelings about 56 million shares issued on 10-31-07 to one individual and 30 million others. Is this reflected on BDGR's balance sheet?
Millionaire, do you truly believe that PR by JL. Someone who has constantly given misleading PR's with a company that cannot produce a legitimate audit for obvious reasons. I want the stock to rise for legitimate, long term reasons, not by hype, payoffs, and manipulation. Legally, I'll sleep better that way.
Metro- I do not know the specifics, just the date, the amount and in whose name.