Black Dragon Announces October Production of 7,081 Barrels
Thursday November 8, 12:05 pm ET
OIL CITY, LA--(MARKET WIRE)--Nov 8, 2007 -- Black Dragon Resource Companies, Inc. (Other OTC:BDGR.PK - News) today announced the production of 7,081 gross barrels in the month of October.
Black Dragon's operator shipped approximately 4,150 gross barrels of oil in the month of October. Inventory rose to 6,131 barrels up from 3,200 in September, an increase of 2,931 barrels. Once again, if the operator could have moved off the total oil produced, revenues would have increased accordingly.
November should be a great month for Black Dragon, especially if all 11 wells can be fraced by the end of the month. Management is hoping to be fracing two more wells the beginning of next week. Along with the fracing, Black Dragon is working on its largest leases, Muslow and Muslow M&M. These two leases have over 124 wells. When Black Dragon has completed these two leases with the 11 new fracs, they are projecting 8,000 to 9,000 gross barrels a month.
Black Dragon at this time has no report of any results from the thumper. The report will be forthcoming, and the Company is hopeful that they will hear something next week. |
