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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 (29)2/6/2008 2:43:13 PM
From: Skywatcher  Read Replies (1) | Respond to of 40
 
Black Dragon Releases Interim Status Report on Funding and on OMDA Litigation
Wednesday February 6, 2:05 pm ET

OIL CITY, La.--(BUSINESS WIRE)--Mr. Joseph Lanza, President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), released an update in response to various recent questions raised by shareholders of the Company. Firstly, he reported that the January 2008 production of oil represented almost a fifty percent (50%) increase over January 2007, 4700 bbl in 2008, compared to 3, 178 in 2007 and that without the enhancement the Company believes it will receive from the new enhanced recovery pump under development. Mr. Lanza predicted that the trend will continue.

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Mr. Lanza also reported that he has been informed that the Summit group intends to present the preliminary business plan to the Funding Group by the end of this week. Mr. Lanza added that the principals of Summit and the Company’s representative have been working diligently last and this week to complete this phase of the project. Mr. Lanza stated that this report will be available to the funding Group to structure the proposed financing.

Joseph Lanza noted today that Adam Barnett, of OMDA, had released information concerning a recent deposition session with Mr. DeWayne Vanadore, a Tyler, Texas Attorney, who formerly represented Mr. Lanza. Under advice of Counsel Mr. Lanza stated it is not appropriate to discuss interim legal proceedings, but emphasized that Mr. Barnett’s statements are not correct and that Mr. Vanadore’s deposition will be continued in the very near future. The Company will have no further comment until after an important event occurs in this litigation.

Mr. Lanza stated that Mr. Barnett’s comments are directly contrary to the facts as he knows them and as they will be established at trial. Mr. Lanza concluded that the Company’s Counsel had recently reiterated their opinion that Black Dragon has meritorious defenses to all of the Plaintiff’s charges, which have no merit.



To: Tom Shutters who wrote (29)2/19/2008 3:10:47 PM
From: Skywatcher  Respond to of 40
 
well...I'm done...I doubled my totally LOSING position today at 2.6 CENTS!...if they can't make it with new people and oil going back to 100 DOLLARS....F THEM!@



To: Tom Shutters who wrote (29)2/20/2008 12:14:52 PM
From: Skywatcher  Respond to of 40
 
Black Dragon Updates Progress of Funding Group and Management Team
Wednesday February 20, 8:15 am ET

OIL CITY, La.--(BUSINESS WIRE)--Mr. Joseph Lanza, President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets) announced today that he has received updates from the Funding Group and Summit Resource Management (Summit Team) concerning the status of their efforts.

The Funding Group has completed its own independent audit and financial review of the Black Dragon financials for the full year 2007. While their detailed audit results were not provided to Black Dragon, the Funding Group has reported that there were no findings that would prevent the planned investment of capital in the Company.

Last week, the Summit Team presented its initial findings and recommendations for Black Dragon to the Funding Group. The Summit report provided a proprietary and confidential forecast and analysis of a portfolio of investment opportunities for enhancing the production rate of wells presently in production and reservoir recovery with varying levels of cash investment in the Black Dragon properties. Those study results are currently being evaluated by the Funding Group to determine the appropriate timing and levels of investment. The Funding Group is evaluating Summit’s report and expects to provide a recommendation to Black Dragon in the very near future. In the mean time, the Summit team is continuing its efforts and is fine-tuning development plans for the Company’s assets.

Mr. Lanza also cautioned shareholders not to rely on unauthorized or false rumors or statements, including those made on internet bulletin boards by persons with motives, apparently counter to shareholder value or the shareholders’ best interests. Mr. Lanza added that he believes that “there has been a long-standing short position in the common stock, and the anticipated upcoming announcements will probably not be favorable to those who hold short positions in the stock.”



To: Tom Shutters who wrote (29)5/23/2008 3:44:19 PM
From: Skywatcher  Respond to of 40
 
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.



To: Tom Shutters who wrote (29)10/15/2009 3:29:10 PM
From: Skywatcher  Respond to of 40
 
Black Dragon Negotiates Expense Reduction With Operating Company

OIL CITY, La., Oct. 15, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink Sheets:BDGR - News) has announced through the efforts of the CEO, Dr. Bailey, Black Dragon has successfully negotiated an immediate reduction in the lease operating costs as charged by its field operating company, Four Star. Lower oil prices have severely affected the economics of the company, and yet the fixed overhead rates per well for operating have not changed. Four Star has agreed to reduce the charges by some 75%. This cost reduction will have a major impact on the balance sheet as the lease costs had historically represented some 66% of the total operating costs. Dr. Bailey has continued his concentrated effort to reduce costs in the face of poor economic times. This reduction will be evident and its impact seen on the year end results. Under the current cost agreement, Four Star was the lowest cost contractor in the area. This reduction will further enhance that competitive advantage in Black Dragon's favor.

Also being announced in cooperation with Four Star is the initiation of a project toward the recovery of gas production from wells. The study will focus on research and development on methods and cost to begin installations of gas collection and delivery systems for those leases with uncollected associated gas currently being vented. This project will cover more than a dozen leases and will generate revenue as well as making a positive impact toward environmental improvement.

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.



To: Tom Shutters who wrote (29)10/19/2009 2:33:28 PM
From: Skywatcher  Read Replies (1) | Respond to of 40
 
Black Dragon to Close on Participation in Humble Project
OIL CITY, La., Oct. 19, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink Sheets:BDGR - News) updates previously announced agreement with Kingdom Energy Partners (KEP) to participate in a lucrative drilling and enhanced oil recovery project in the Humble Field in Harris County, Texas. The due diligence has been completed satisfactorily and the deal looks to close this week.

Current estimates indicate the lease to be drilled on this project could have recoverable reserves of up to 500,000 barrels of oil. Dragon's immediate interest could easily yield 25-75 barrels per day, with an annual value of roughly $600,000 to $1,800,000 per well, with current oil prices around $70 a barrel. Dragon looks to drill a total of 5 wells, 1 of them being an injection well, and 4 of the wells producing oil therefore the total annual revenue generated could be anywhere from $2,400,000 to $7,200,000. Dragon will look to drill more wells down the road therefore increasing their interest and revenue stake in the project. The company is very excited to be working with KEP and feels this could turn out to be a very fruitful business relationship and joint venture. KEP will use its patented Coriba chemical for enhanced oil recovery. Drilling is to begin in the next 30 days and first production is expected before year end.

The wells will be less than 1000 ft deep, located in the top of a salt dome, which has been a significant production area for more than 50 years. The Coriba patented technology will allow the recovery of previously by-passed oil. It is a chemical concentrate that lowers the surface tension between the reservoir rock and the oil and thus allows the freed oil to flow more easily to the well bore. Production wells and injection wells are drilled. The chemical goes into the injection well and sweeps the oil into the production well for easy and fast withdrawal.