Black Dragon Resource Companies Inc (BDGR)

[dvanheld]

What does everyone think of this?

OIL CITY, La., Oct. 26, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") announced today that management is currently in talks to acquire a local operator for cash and notes. The current production of the operator is just under 2,000 bls a month. With this acquisition Dragon would be around 4,500 bls a month with a cash flow of roughly *$250,000*to*$300,000*. Please note: This does not include new oil & gas wells being drilled and coming online nor does it include the company's short term aggressive growth strategy. Management stated they are currently processing due diligence on this new acquisition and checking title.
Furthermore, Dragon looks to immediately drill three new wells on the Company's new 640 acre lease in the Caddo field. The company planned to commence drilling today however weather conditions didn't permit them to start. Petrolind Drilling, the drilling company for BDGR, anticipates to start on drilling the first of three wells by the end of October or first of November depending on weather. There are six shut-in gas wells on this same lease which will be tested and if economically feasible will be turned back on in order to create more cash flow for BDGR.

DTC shows on 10/16/2009 32,963,433.5 (shares) were traded of which 24,188,870.5 were sold and 8,774,563 were bought. That means that roughly 15,414,307.5 (shares) were sold short. Approximately 6 firms bought and 8 firms sold. We are investigating the current activity of our company's common trading (shares) and feel there's a large short position. BDGR is taking action to protect its shareholders as well as the investing public. More importantly the company looks forward to bringing the scrupulous market maker activities to an end. BDGR states it will do whatever necessary within proper means to squeeze the short position out of its company's common *shares*, including but not limited to, adding shareholder value like the intended acquisition above. This in itself will create more market value for our common *shares*, therefore bringing these market shorting activities to a stop.

Black Dragon is an oil & gas exploration and production company currently focused on the acquisition of mature, producing and existing domestic oil and gas fields. This focus has eliminated exploration risk, reduced costs of completion, and provided rapid generation of income in a niche market where larger independent and major oil companies are not positioned to compete. Black Dragon intends to recomplete additional shallow producing wells and to expand its focus to include drilling of new wells some to deeper levels and to purchase additional leases.