BDGR News!!

[Chuck.W]

Black Dragon to Close on Participation in Humble Project
Press Release
Source: Black Dragon Resource Companies, Inc.
On 7:00 am EDT, Monday October 19, 2009


OIL CITY, La., Oct. 19, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink Sheets:BDGR - News) updates previously announced agreement with Kingdom Energy Partners (KEP) to participate in a lucrative drilling and enhanced oil recovery project in the Humble Field in Harris County, Texas. The due diligence has been completed satisfactorily and the deal looks to close this week.



Current estimates indicate the lease to be drilled on this project could have recoverable reserves of up to 500,000 barrels of oil. Dragon's immediate interest could easily yield 25-75 barrels per day, with an annual value of roughly $600,000 to $1,800,000 per well, with current oil prices around $70 a barrel. Dragon looks to drill a total of 5 wells, 1 of them being an injection well, and 4 of the wells producing oil therefore the total annual revenue generated could be anywhere from $2,400,000 to $7,200,000. Dragon will look to drill more wells down the road therefore increasing their interest and revenue stake in the project. The company is very excited to be working with KEP and feels this could turn out to be a very fruitful business relationship and joint venture. KEP will use its patented Coriba chemical for enhanced oil recovery. Drilling is to begin in the next 30 days and first production is expected before year end.



The wells will be less than 1000 ft deep, located in the top of a salt dome, which has been a significant production area for more than 50 years. The Coriba patented technology will allow the recovery of previously by-passed oil. It is a chemical concentrate that lowers the surface tension between the reservoir rock and the oil and thus allows the freed oil to flow more easily to the well bore. Production wells and injection wells are drilled. The chemical goes into the injection well and sweeps the oil into the production well for easy and fast withdrawal.



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.

[trading_guy]

I think this stock will do good imo!!! Also keep your eyes on ICBT,IGNT and BLUG for possible run today!!!

[trading_guy]

OIL CITY, La., Oct. 19, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink Sheets:BDGR - News) updates previously announced agreement with Kingdom Energy Partners (KEP) to participate in a lucrative drilling and enhanced oil recovery project in the Humble Field in Harris County, Texas. The due diligence has been completed satisfactorily and the deal looks to close this week.


Related Quotes
Symbol Price Change
BDGR.PK 0.05 0.00


{"s" : "bdgr.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""}
Current estimates indicate the lease to be drilled on this project could have recoverable reserves of up to 500,000 barrels of oil. Dragon's immediate interest could easily yield 25-75 barrels per day, with an annual value of roughly $600,000 to $1,800,000 per well, with current oil prices around $70 a barrel. Dragon looks to drill a total of 5 wells, 1 of them being an injection well, and 4 of the wells producing oil therefore the total annual revenue generated could be anywhere from $2,400,000 to $7,200,000. Dragon will look to drill more wells down the road therefore increasing their interest and revenue stake in the project. The company is very excited to be working with KEP and feels this could turn out to be a very fruitful business relationship and joint venture. KEP will use its patented Coriba chemical for enhanced oil recovery. Drilling is to begin in the next 30 days and first production is expected before year end.



The wells will be less than 1000 ft deep, located in the top of a salt dome, which has been a significant production area for more than 50 years. The Coriba patented technology will allow the recovery of previously by-passed oil. It is a chemical concentrate that lowers the surface tension between the reservoir rock and the oil and thus allows the freed oil to flow more easily to the well bore. Production wells and injection wells are drilled. The chemical goes into the injection well and sweeps the oil into the production well for easy and fast withdrawal.



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.

[fordf250]

Dragon Increases Its Position in the Humble Salt Dome EOR Project

Buzz up! 0 Print..Companies:Black Dragon Resource Companies, Inc..Related Quotes
Symbol Price Change
BDGR.PK 0.0051 0.0000


{"s" : "bdgr.pk","k" : "c10,l10,p20,t10","o" : "","j" : ""} Press Release Source: Black Dragon Resource Companies, Inc. On Thursday January 7, 2010, 1:50 pm EST

OIL CITY, La., Jan. 7, 2010 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc.'s ("the Company", "Dragon") (Pink Sheets:BDGR - News) CEO Mr. Scott D. Smith has announced today that Dragon is going to increase its position in the Humble Salt Dome EOR Project from 6.75% to 16% by the end of next week. "Drilling has begun on the initial well in the primary 5 well pattern. This project has excellent potential for production and also utilizes top tier technology. I feel that this project will be a major turning point for Black Dragon because it creates a working relationship with other companies that have patented technology that Dragon could benefit from, as well as the fact that is gets Dragon involved in additional oil and gas fields above and beyond our norm," stated Mr. Smith.



Also, on the 640 acre lease, the two gas wells drilled recently will be connected to the gas gathering line for commercial sale as soon as possible. Dragon is also looking at the possibility of picking up two additional wells that are located on the subject property that were abandoned in 1999 when gas prices were too low to make them profitable for production. The two recently drilled gas wells are currently shut in waiting for utility connection, but they have gas pressure. Before they can be connected for sale, the State will potential their capability, giving us a good idea of production numbers to come.



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.