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Gold/Mining/Energy : Black Dragon Resources Company....BDGR.pk -- Ignore unavailable to you. Want to Upgrade?

To: Tom Shutters who wrote (27)	10/16/2009 1:25:16 PM
From: Skywatcher	Respond to of 40

Black Dragon Expanding Gas Revenues With Well Connections * Press Release * Source: Black Dragon Resource Companies, Inc. * On 6:00 am EDT, Friday October 16, 2009 OIL CITY, La., Oct. 16, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink Sheets:BDGR - News) recently announced the initiation of a project to capture production from associated gas on oil wells, and from existing gas wells. There could be in excess of 200 currently producing oil wells outfitted for dual production in this manner. The first group of wells has now been connected to capture the gas. The effort will continue in a regularly scheduled program. Currently, most of Dragon's producing chalk oil wells are producing some gas. There are other non-associated gas wells that have been inactive. The project has begun to identify a work program to bring these existing gas producers on line and connected to the pipeline. Meanwhile new wells on new leases at deeper depths are being planned. These actions will increase company revenue and add shareholder value. Management believes that gas production can be as high as 9 mmscf per month, which could contribute around $30,000.00 per month in gross revenue. The cost to ramp up production could be as high as $150,000.00, but the project, together with higher gas prices, now makes it an appropriate time to put resources on this matter. Considering the existing oil and gas assets, Dragon plans to exploit its full asset value. These actions should enhance market perception and add true value to the hydrocarbon reserves of the company. It was previously reported that a new 640 acre lease was obtained that will add to this value when the first two wells there come on later this year. The newly acquired Haynesville Shale royalty is another potential revenue generator. 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.