Gee, Nitwit, maybe this is what you were expecting?
Black Dragon Resources Anticipates Record Third Quarter
Business Wire, Sept 27, 2006
Reports Substantial Progress with Acquired Properties
AUSTIN, Texas -- Black Dragon Resource Companies, Inc. (OTCPK: BDGR)- announced today on an unaudited basis, that it expects to record quarterly revenues for the company for the third quarter ended September 30, 2006.
Gross revenues on an unaudited basis for the first two months of the 2006 third quarter are expected to be approximately $1.035 million as compared to $523,000 for the three months ended September 30, 2005, or an increase of almost 100%.
According to Richard Michael, President, "With gross revenues for the month of September expected to greatly exceed the revenues of approximately $545,675 recorded for August, we expect the quarter ended September 30th to have record results. We were able to achieve these results through execution of our acquisition program and making continuous progress developing our existing properties."
"In the third quarter of 2005, the Company's properties grossed $523,929 resulting from the sale of 7946 barrels of oil. In July and August of 2006 our properties have had gross sales of $833K of oil and $202K of gas. September shipments will exceed August."
During that period, progress has been made developing the eight existing wells in the Spider Field where new drilling is also proposed to begin in the near future. Steps to further production in the Arkana Field including the ordering of key equipment should further this product in the next few weeks. Work also continues steadily for the Hosston Field and Pine Island properties which will be greatly assisted by the addition of the drilling rig previously announced by the Company. We are also pleased to report that sites have been located and staked for drilling permits for the first 4 new wells on Caddo Lake.
Management continues to remain confident with its target of producing 30,000 barrels of oil or equivalent a month by year end 2006.
