Black Dragon Gross Shipments of Oil Exceed $600,000 in Value During May 2008
Posted on: Thursday, 19 June 2008, 09:01 CDT
Joseph Lanza, President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), announced today that the Company shipped over 4,800 gross barrels of oil during May and 2.8 million MCF of gas, which equates to an additional 398 barrels of oil. The total value of these shipments is a gross of $600,000 from which are deducted the payments of working and royalty interests due to other owners to arrive at Black Dragon's revenues.
Mr. Lanza also stated that negotiations are ongoing with various potential, new management teams and that he is confident that a definitive agreement will be reached, in principle, prior to the end of June.
About Black Dragon Resource Companies, Inc.
(www.black-dragonoil.com) Black Dragon specializes in increasing the production of crude oil and natural gas from wells whose production amounts to 15 barrels of crude oil or less per day. The reduced production of these wells, a result of abandonment or plugging because of dropping prices of crude oil through the 1980s, represents a significant opportunity to capitalize on local resources, while lessening domestic dependence on foreign oil. Black Dragon continues to acquire wells in the oil-rich regions of Louisiana and Eastern Texas, augmenting its portfolio to over 400 operating oil wells.
Forward Looking Statements:
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.
Source: Business Wire
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