Black Dragon on Caddo Lake
Monday June 12, 11:08 am ET
Black Dragon Has Crew Working on Caddo Lake Right Now!
AUSTIN, Texas--(BUSINESS WIRE)--June 12, 2006--Black Dragon Resource Companies, Inc., (Pink Sheets:BDGR - News) announced today that the company is working on their first shut in well located on Caddo Lake. President, Mr. Rick Michael, stated, "We have 46 shut in wells on Caddo Lake. These wells could add a major amount of production without a huge amount of funds being laid out to put them on. This is a very exciting time for the Company. We've been working on this project for over 18 months now and in a week or less we will be able to see what the first shut in lake well will produce." Mr. Michael went on to say that they are finishing up on a saltwater disposal well, "When it is approved to inject water, Black Dragon will be able to turn on an additional 15 wells. The Company has also staked locations to drill an additional 7 saltwater disposal wells and 40 new Nacatoch oil and gas wells. Summer is here and with the dry conditions we currently have in the oilfield it is time to really turn up the production."
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About Black Dragon Resource Companies, Inc.
Black Dragon is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the Texas and Louisiana regions.
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., Austin
Rick Michael, 512-442-4151
www.black-dragonoil.com
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