BDGR - June 10th News (Anyone Catch This?)
From BDGR Website
Oil City, LA -
Black Dragon Oil & Gas Inc update to Shareholders
OIL CITY, La., June 10, 2011 - Black Dragon Resource Companies, Inc. (Pink Sheets:BDGR) President, Mr. Tom Neely announced today that all corporate updates and news releases will be posted on the corporate Website. He went on to say that the company is looking for a web master to create a new more professional looking and more shareholder friendly web site.
Mr. Neely went on to state that the Dragon is purchasing 40% of the Land Co. lease in Caddo Pine Island. The reason is dragon will receive current cash flow from the ongoing production. The second reason the Board has moved in this direction is that the first well being drilled will be the Land Co. #14 well and to do some work over which should increase the daily production. Management is hoping that the Land Co. lease will cover 25-30% of Dragons overhead. The Land Co. has been producing on average high 40,000 to the low 50,000 dollars a month. We are hoping that the new well and minor rework can have the production up to over $100,000 a month. The third reason is by acquiring our 40% working interest we will save around $70,000 in tanks & separator cost.
Mr. Neely stated that they should have their funds available by the15th of this month. He also stated that first quarter financial report will be posted on the Pink Sheets and on our website hopefully no later than Monday.
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.
Forward-Looking Statements: Safe Harbor
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
SOURCE: Black Dragon Resource Companies, Inc.
CONTACT: Black Dragon Resource Companies, Inc.
Investor Relations
318-995-0404
Disclaimer: I am not a paid promoter, broker nor an officer of a
public company. My posts should not be construed as a
recommendation to buy or sell securities. sea_devil
