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Black Dragon Resource Companies, Inc. Announces Six Month Earnings

Posted on: Wednesday, 27 July 2005, 12:01 CDT

Black Dragon Resource Companies, Inc. (OTC:BDGR) President Rick Michael announced today that the net revenue from 153 OPERATING wells out of a total of 848 wells owned by the corporation, for the first 6 month period, produced a profit of $51,556. Gross Sales: $471,171.02 Net Sales: $294,205 Total Assets: $12,291,848 Total Net Equity: $4,887,152 Earnings: $51,556 Shares Outstanding Common: 9,712,000 Convertible Preferred: $4.50 2 1/2% 289,552

Mr. Michael went on to say that July will be the largest month this year. Currently around 2000 barrels have been picked up and another 2,500 barrels of oil are still waiting to be shipped. Mr. Michael also said the purchaser is paying an average of $53 a barrel.

Mr. Michael also commented on two other topics. First, regarding the price of the stock. Mr. Michael stated that there is no reason that he knows of to cause the down turn in the share price. The company is increasing production on a monthly basis, which is consistent with the Dragon's business model projections.

Second, in the news release dated June 22, 2005, there was a typographical error. The article stated, "Plus 75,000 mcf of gas to its growing revenue stream." It should have read "75,000 cf of gas." The balance of the news release was correct.

About Black Dragon Resource Companies

Black Dragon Resource is focused on the recovery of hydrocarbon reserves through acquisition and project development, specializing on mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the oil and gas-rich Texas and Louisiana oil patch.

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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