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Black Dragon Resources Companies, Inc. Provides Revenue Guidance for First Six Months of 2006

Posted on: Thursday, 27 April 2006, 09:00 CDT

Record Revenues Expected For First and Second Quarter of 2006

Black Dragon Resource Companies, Inc. (OTCPK: BDGR), a rapidly growing producer of mature, operating oil and gas properties in Texas and Louisiana, announced today that first quarter revenues on an unaudited basis for the quarter ended March 31, 2006 should exceed $1.1 million, up over 69 percent over the previous quarter and 750% over the first quarter of 2005. This represents a record quarter for the Company.

The Company additionally expects revenues for the second quarter ended June 30, 2006 to exceed $4 million. This reflects anticipated production of approximately 2000 barrels per month from existing wells that are being refurbished at the Caddo Lakes property. This production is anticipated to be on line sometime prior to the end of the second quarter and will provide more than $250,000 of additional cash flow per month to the Company. Additionally, the Company has made substantial progress preparing for gas production at the Caddo Lakes properties and expects that gas production will commence sometime in the third quarter.

According to Mr. Rick Michael, President of Black Dragon, "We are pleased that we have been able to take maximum advantage of the several well acquisitions that we have made over the last several months by quickly putting properties back into production. Our results for the quarter and the anticipated revenues of over $1.3 million for the month of April should provide us with the momentum to have an outstanding year. We now believe that we will exceed our revenue goal for 2006, which we had previously set at approximately $14 million.

"In addition to the rapid internal growth that we are experiencing, we continue to be opportunistic and seek various oil and gas property acquisitions in the Louisiana Gulf Region," added Mr. Michael.

About Black Dragon:

Black Dragon Resource Companies, Inc. is oil and gas production company focused on the acquisition of mature, producing and existing U.S. oil and gas fields. The Company's focus on mature, domestic oil fields eliminates exploration risk, reducing costs, and provides immediate generation of income in a niche market where larger independent and major oil companies are not positioned to compete.

Forward-Looking Statements

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Source: Business Wire

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