Black Dragon Resource Companies Inc (BDGR)

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NEWS NEWS NEWS!!!!!! And more to come!!!

Press Release Source: Black Dragon Resource Companies, Inc.


Black Dragon Resources Acquires First Major Drilling Rig
Tuesday September 26, 2:07 pm ET
Significant Production Increase and Cost Savings Expected Immediately


AUSTIN, Texas--(BUSINESS WIRE)--Black Dragon Resource Companies, Inc. (OTCPK: BDGR)- announced today that it has significantly increased its production capacity through the acquisition of a drilling rig for a purchase price of approximately $400,000 to be used at its Hosston Field and Pine Island properties. This drilling rig is being readied for service, and the necessary Salt Water Disposal wells and new infill production wells are expected by the company to be drilled during the fourth quarter of 2006.
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According to Richard Michael President, "The addition of this drilling rig which had an original cost of over $2 million, will provide significant cost savings over the next several months. We anticipate that the savings will exceed the rig purchase price in less than six months. There should be a significant increase in production both at Pine Island and the Hosston field resulting from this new drilling and utilization of the rig," added Mr. Michael."

Mr. Michael added that "the Company anticipates bringing additional rigs of this type into our production process in the coming months. We continue to make significant enhancements to our operation and will to ensure the lowest production costs and highest production levels possible."