To: stockman1234 who wrote (15 ) 9/27/2007 2:47:34 PM From: Skywatcher Respond to of 40 WOW...seems Mr Ellis was the one trying to railroad the company from INSIDE!...he owes us $50,000 and one HELLUVA Explanation it seems and now the stock seems to have rid itself of inside cronyism Black Dragon Sets Record Straight on Michael Ellis Resignation Thursday September 27, 2:31 pm ET OIL CITY, LA--(MARKET WIRE)--Sep 27, 2007 -- The Executive Committee of the Board of Directors of Black Dragon Resource Companies, Inc. (Other OTC:BDGR.PK - News) announced today corrections to the unauthorized release by Michael Ellis, former President, Treasurer and Director of the Company. Through his associate, Mr. Joel Pensley, an attorney from Connecticut, Mr. Ellis caused a release to be issued which was erroneous as to facts and circumstances regarding his departure from the Presidency and Board of Black Dragon. At no time, since his appointment to the Presidency by the Board, did Mr. Ellis come to Oil City to commence taking over the day-to-day operations of the Company. Mr. Ellis was in fact paid the sum of $50,000 for purported services rendered to Black Dragon and to this date, has not forwarded to the Company any or all of the geological and geophysical research work purported to have been done by himself on behalf of Black Dragon. Mr. Ellis was hired, at the behest of the Board, to implement a program for increasing production on existing shallow wells and to develop an operational plan which would facilitate the evaluation of reserves at depth to further develop and produces reserves which the Company owns. Mr. Ellis indicated that interim funding would be forthcoming, pending the development of a drilling program. To this date, no interim funding has materialized nor has a comprehensive drilling program been developed. Mr. Ellis further insisted that all present board members submit their resignations to allow for his associates to be appointed to the Board, issuing 100 Million shares of New Stock as compensation for services to his new Board. Additionally, Mr. Ellis indicated that he would dispose of all of the leases located in Louisiana, regardless of the outcome, to provide funds for drilling exploratory wells in other regions of the country. None of his intentions or plans were disclosed to the Board prior to his appointment as President of Black Dragon. These intentions were clearly not in the best interest of the Company and its shareholders. At a special meeting of the Board of Directors on September 24, 2007, Mr. Ellis, though notified, elected not to participate. The Board discussed terminating Mr. Ellis for cause, but decided to offer Mr. Ellis the opportunity to resign, which apparently he did, without notifying the Company directly, but instead through an unauthorized release. The Executive Committee expressed regret that Mr. Ellis had taken unilateral action without regard to the effect it might have on the Company and its stockholders. Repeated attempts to reach Mr. Ellis by Corporate Counsel have been unsuccessful.