Black Dragon Resource Companies Inc (BDGR)

[tchauncy]

marsnvest- If your post is a question, let me try to address it. First of all, if you read my first post here this morning, the Preferred that was ruled invalid did NOT have any notes attached to it. Your question "Who owns the wells" is the heart of this case.

Lanza used OMOG back in the first few years of this decade to raise capital. That is why OMOG’s share count went up from around 3 million to 900 million from around June of 2002 through Sept of 2003 when he lost control of OMOG to Barnett. With some of the proceeds he purchased and announced in old OMOG PR’s at that time, Oil and Gas properties to include some 285 wells in Caddo Parish LA known to many of you as the Wooldridge Properties. I am copying and pasting Paragraph 20 from the same pleading I copy and pasted 54-74 earlier today which is an excerpt of that PR.. (My boldface added)

20. On or about January 21, 2003, Lanza caused Omog to issue a press release which was
published by PRNewswire-FirstCall, a commonly read financial publication, the following:

“-- OMDA Oil and Gas, Inc. (OTC: OMOG) announces that OMDA Oil & Gas
Management, Inc., has acquired 285 oil and gas wells in Oil City, Louisiana from
Wooldridge Production Company, Ltd., for cash and notes based on production. No
stock was issued for this acquisition. In 2002, Wooldridge and its subsidiaries
produced approximately $600,000 in gross revenue.”

He also had an unaudited financial done in April of ’03 which stated that it covered “OMDA Oil and Gas and its Subsidiaries as you can see from my copy and past paragraphs 24-26 from the same pleading:




24. Lanza told Barnett that he would send him a “current unaudited financial statement” of Omog and its subsidiaries.

25. On or about July 9, 2003, Barnett received a multiple page fax from “Wooldridge
Prod. fax number 318-995-5466” which stated on the cover page that:
“OMDA OIL & GAS, INC., AND SUBSIDIARIES
OMDA OIL AND GAS MANAGEMENT, INC.
OMDA OIL AND GAS SERVICES, INC.
PROFIT PUBLICATIONS, INC.
CONSOLIDATED FINANCIAL STATEMENT
(UNAUDITED)
April 30, 2003, January 31, 2003 and 2002”

26. After receiving the Consolidated Financial Statement, Barnett discussed it with Lanza, particularly that it disclosed that Omda held oil and gas leasehold interests totaling $450,749 in 314 leases in Louisiana and Texas.

The Wooldridge Properties were put into OMDA OIL AND GAS MANAGEMENT, INC. By Lanza at the time of acquisition. So it became fairly clear, unless Lanza was running a scam, that these properties rightfully belonged to OMOG, not Lanza at the time Barnett took control of OMOG. When Barnett took control, he asked Lanza for the Subsidiary stock certificates for both subs. Lanza claimed he didn’t have them. So shortly after Barnett took control, OMOG noticed that certain equipment on the Wooldridge Lease was turning up missing. After sending in a consultant of OMOG to the field, he was told by other operators in the area that they had seen Lanza’s people “hanging” around OMOG’s well locations. So Barnett filed for a Restraining Order against Lanza in Caddo Parish court. The a real twist happened on the day of the hearing. Both Barnett and his attorney expected a plain vanilla restraining order to be issued in favor of OMOG, but Lanza showed up waving the “missing Omda Oil and Gas Sub. Stock certificate” claiming HE owned the sub that had the assets. This of course killed any chance of the Caddo court from giving OMOG the restraining order under, I guess, the old “Possession is 9/10 of the law” doctrine. Once this happened, OMOG was stuck in the mud in Caddo. Only after I introduced Barnett to a sharp Houston Lawyer, and thanks to the idiocy of the Defendants who presented the bogus Series D Preferred at the Company’s Houston, TX headquarters, did that give OMOG’s new counsel an opportunity to get a case started in Texas. And that case is this case.

Where BDGR got dragged in was after Lanza and Michaels (Both already existing defendants in this case) decided to transfer the “Properties in Question” to BDGR. Something that boggles the mind of anyone with common sense. But then again. These were pretty much the first properties that BDGR used to create an appearance of “Critical Mass” and were used to leverage further growth of BDGR. Particularly in the Caddo area. Now it appears that BDGR is trying to distance itself from the properties in question with the transfer of the Wooldridge Caddo Properties back out of the Company in exchange for its convertible preferred. As can be seen by your Feb. 7th. PR.

http://biz.yahoo.com/iw/070207/0212875.html

While it may be an effort. IMO, it is at best a feeble effort that will not work. It certainly should appear to even an ignorant person that during the past two years of skyrocketing oil prices, that this maybe theft attempt has cost OMOG serious monetary damages. Something that I don't believe will be overlooked by the courts.