well...they HAVE oil...and now it's not getting out to be bought, and they are cleaning up their mess...something's gotta give here
Black Dragon Announces September Sales
Wednesday October 3, 8:00 am ET
OIL CITY, LA--(MARKET WIRE)--Oct 3, 2007 -- Black Dragon Resource Companies, Inc. (Other OTC:BDGR.PK - News) ("the Company," "Dragon") announced today that the Company produced in the month of September 6,323 barrels and shipped 4,420 barrels. Dragon had 10 leases with oil that was not picked up, which represent a total of 1,181.04 barrels. These figures do not count any gas sales. However, Management goals were close, if the oil had been picked up (5,601.04). Oil was picked up off of 40 separate leases.
This shows that the Company will not be profitable in September as hoped. Cash on cash the Dragon will be short around $77,000.00, which can be made up in operations.
Dragon will be looking to acquire more shares in the month of October with prices this low. The Company will do its best to acquire another 500,000 to 1 million or more shares.
Production per average well is still around .669% of a barrel. Dragon has 3200 plus barrels of sellable oil in the stock tanks. These figures will be updated every month.
Lastly, the Dragon has replaced a couple of dozen tanks. These tanks were drained, and the oil now sits in large storage tanks; oil, gunk known as BS and water. The tanks range from 200 to 500 barrels. This month Dragon plans to start cleaning these storage tanks and by this work, will hopefully add an additional 500 to 600 barrels a month. |
