starting to look VERY GOOD
Black Dragon Announces Gross Revenue for First Quarter 2008 Exceeds One Million
Friday May 23, 1:50 pm ET
OIL CITY, La.--(BUSINESS WIRE)--Joseph Lanza, President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), announced today that the gross receipts for the first quarter exceeded $1,005,058.99 from the sale of 10,062.13 bbls of oil sold from January 1 through march 31, 2008. This compared with gross receipts of $749,938.21 on the sale of 11,603.25 bbls for the comparable period of 2007. From gross receipts the interests of other stakeholders are deducted to arrive at Black Dragon’s revenues.
The President added that since October the Summit Group has been assisting Management to enhance production and is expected to continue to do so upon the closing of a financing package being developed by Black Dragon and one of several interested groups. While they are moving expeditiously to conclude these negotiations to completion, not all details have been worked out, but are expected to be completed prior to June 1, 2008.
Under all pending proposals Mr. Lanza will resign upon the receipt of adequate funding and the Board of Directors restructured.
In the event that none of the pending financing proposals under consideration are finalized, Management will promptly develop other alternatives and intends to move aggressively to seek other opportunities. |
