Black Dragon Resource Companies Inc (BDGR)

[newklear]

I just saw the news on this one...pretty nice..anyone thinks more PRs are coming? thanks

Black Dragon Updates Negotiation with Potential Investment Partners
Thursday June 5, 8:00 am ET

OIL CITY, La.--(BUSINESS WIRE)--Joseph Lanza, President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), announced today that the Company continues to finalize an agreement with two potential investment partners and, the Company believes that a transaction favorable to the best interests of the Company’s stockholders will be completed very soon. As in every important negotiation, there is an ebb and flow between the parties in reaching a full agreement. That is the status of the negotiation. The Company continues to be confident a deal will be reached involving the Summit Group.

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Mr. Lanza noted that it is not consistent with securities law, or even ethical business practices, to disclose specific details of a negotiation and has been advised by the Company’s Corporate Counsel to refrain from doing so. The Company also requests that shareholders act judicially in contacting the Company to solicit details, as it does not intend, nor could it do so legally, to provide information which is not available to all shareholders in a timely manner.

Management also announced today that oil production shipped was approximately 3,800 bbls, which will generate approximately $467,000 in gross receipts. Additionally, gas production was close to 2.5 million mcf, which should yield an additional $30,000 in gross. The interests of other stakeholders are deducted from gross receipts to arrive at Black Dragon’s revenues.

Mr. Lanza also noted that Black Dragon’s operations have decreased since October, but as of June 1 he would have greater involvement in operations, while the Company awaits funding. He went on to say that Black Dragon today spudded a new oil well that should be completed next week. Mr. Lanza concluded by announcing that he received preliminary information from the thumper, which showed many potential new zones that have not been touched by major companies.

About Black Dragon Resource Companies, Inc.

(www.black-dragonoil.com) Black Dragon specializes in increasing the production of crude oil and natural gas from wells whose production amounts to 15 barrels of crude oil or less per day. The reduced production of these wells, a result of abandonment or plugging because of dropping prices of crude oil through the 1980s, represents a significant opportunity to capitalize on local resources, while lessening domestic dependence on foreign oil. Black Dragon continues to acquire wells in the oil-rich regions of Louisiana and Eastern Texas, augmenting its portfolio to over 400 operating oil wells.

Forward Looking Statements:

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.


Contact:

Black Dragon Resource Companies, Inc.
Mr. Joseph Lanza, 318-995-0404
President