More good news!!!
Black Dragon Resource Companies, Inc. Completes New Wells in Hosston Field
Monday February 12, 7:43 pm ET
Production Equipment to Be Installed This Week
Drilling Program Continues
OIL CITY, La.--(BUSINESS WIRE)--Black Dragon Resource Companies, Inc. (PINK SHEETS:BDGR - News) announced today that it has completed (perforated the casing) the 7 new oil wells in the Hosston Field, Caddo Parish, Louisiana in the Nacotosh sand as oil wells. These wells are the first in Black Dragon's aggressive drilling program in Caddo Parish, Louisiana, announced earlier this year. After swabbing the wellbores clean, 5 flowed oil with virtually no water and the other two flowed oil with a trace of water. These preliminary results were sufficient for the company to conclude that all 7 wells will produce oil in commercial quantities. Four Star Oil Company, the contract operator of the wells, was directed to equip the wells with tubing, downhole pumps, rods and pumpjacks and to install flowlines to the tank batteries located on the leases. This work should, weather permitting, be completed by the end of this week and the initial production rates for these wells determined early next week.
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Additionally the Midyette No. 5 well was drilled and cased and is scheduled for completion in the next week. Drilling has begun on the Wynn A Salt Water Disposal Well in The Hosston Field. This facility will allow the company to produce from 13 wells that are currently equipped but shut in. Due to wet conditions in that portion of the Caddo Pine Island Field drilling of the Salt Water Disposal Wells on the Watkins Lease and then on the Taylor lease has been temporarily delayed. These wells will be drilled as soon as conditions permit.
"These results signal a good start for 2007," said Rick Michael, company President.
