Black Dragon Announces August Oil Production Numbers
03 Septiembre 2010 - 8:25AM
Black Dragon Resource Companies, Inc. ("the Company," "Dragon")
(Pink Sheets:BDGR) is pleased to announce today that Black Dragon
oil leases shipped 2621 gross barrels of oil in the month
of August, an increase of 221 gross barrels over July. The
company was able to increase its production by increasing
its total wells online to 23. This number excludes the
Humble EOR Project which has now begun the EOR phase which is
expected to substantially increase oil flow rates. Black
Dragon expects a dramatic improvement in next month's production
numbers as it begins using its new system of putting 21 wells
online minimum per month which will be achieved by having 3 rigs
working in the field, each turning on at least 7 wells per month.
Management estimates the company will do 3,061 gross barrels
of production next month excluding the Humble EOR
Project. The company is on track to meet its December 31st
revenue and production objectives. 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.
CONTACT: Black Dragon Resource Companies, Inc.
Investor Relations
Brian Holden
913-226-3818
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