Black Dragon Resource Companies Inc (BDGR)

[57tbird]

The More Drilling Rigs available, the faster the frequency in adding more producing wells. A $2M rig for $400K would look mighty attractive to me - especially if I had identified promising fields to develop. Looks like a really good move for BDGR. It does position them with their own Rig - not at the mercy of scheduling drilling operators who may be reserved for some time, and the cost is right. If I read their earlier PR correctly, they'll save $100K per well with their own Rig - 4 wells = pay back - an outstanding investment - assuming the 4 wells are productive - no reason to assume otherwise given the producing fields it'll be put to immediate use in. Perhaps the 22,000 BOE expectation by December will be surpassed. Here's hoping!