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MORE GOOD NEWS FOR BDGR .0002!!!

Black Dragon Resource Companies Inc. Announces Reduction in Authorized Shares
Black Dragon Resource Companies (OTC) (USOTC:BDGR)
Intraday Stock Chart
Today : Friday 22 October 2010

Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) is pleased to announce today that the company will reduce the Authorized shares from 100 Billion to 25 Billion.
Company management recently increased the authorized shares to 100 Billion to satisfy a debt holder. With the verbal commitment on the selling of the two leases, the note holders have agreed to increase their debt-holding period for an additional year.

With this concession, management feels that they can now reduce the authorized back to 25 Billion once the terms are signed. The mean Company's market value is approximately $2.5 million at $0.0001, while the company's asset value is $14-18 million.

Management recently announced its plans for a Share Buyback. The company is committed to reducing its share structure in an effort to increase shareholder value.

Black Dragon is an oil and 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.