Black Dragon Resource Companies Inc (BDGR)

[snowcrow]

"From what I gather, they did tend to develop the properties but their miserable net revenue situation and inability to exectute in the field derailed the effort. Probably some leases were "gotten" on terms that would have required a miracle to make them productive, ie, liability exceeded potential asset value."

If you look at the BD principles and some of the board members, these are oil men with a lot of experience. They should certainly know how to negotiate an oil lease, and how to execute on the operating side. So, it is hard to believe they could have given this an honest effort and screwed up so bad. If the leases don't pencil out, BD had to know it.