Black Dragon Correction To Press Release From October 9 On 640 AC Lease In Caddo-Pine Island With Haynesville Shale Royalty

Home/Uncategorized/Black Dragon Correction To Press Release From October 9 On 640 AC Lease In Caddo-Pine Island With Haynesville Shale Royalty

Black Dragon Correction To Press Release From October 9 On 640 AC Lease In Caddo-Pine Island With Haynesville Shale Royalty

Press Release

Black Dragon Correction To Press Release From October 9 On 640 AC Lease In Caddo-Pine Island With Haynesville Shale Royalty

PressMediaWire.com (Press Release Distribution) – Oct 15,2009 –

PressMediaWire – OIL CITY, La., October 9, 2009 — Black Dragon Resource Companies, Inc. (“the Company”, “Dragon”) (Pink Sheets:BDGR – News has issued a correction on the 640 ac lease report. The net revenue interest is 84% rather than 80%, and the working interest is 100% rather than 75%.

Dragon is now holding a very strong position in this development. Also to further clarify the comment on the nearby Cotton Valley well, in 2008 the well came in at 11 mmscf per day, and has averaged 3.8 mmscf per day of gas and 11 barrels per day of oil, basis public reports. This is a very productive well. The significant point is the lease now held by Dragon includes this same Cotton Valley zone with a net revenue interest of 84%. At the same time Dragon has a 4% royalty in the Haynesville Shale in this same lease. Currently there are Haynesville prospects being drilled in contiguous acreage to the Dragon leasehold. The attractive gas finds in the Haynesville have been widely publicized and the Company is excited to have a position in this reservoir.

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. 

Forward-Looking Statements

Safe Harbor: 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.

Contact Information:
Black Dragon Resource Companies, Inc.
R. G. Bailey
Phone: 318-995-0404 Ext:
Website
Email Us

Press Release Keywords:

bdgr,Black Dragon,Oil,Gas,Production,Exploration

  Print this PR
 
 
 
Follow This Company On
Images
No Image.
 
Contact Info

 
Disclaimer: We accept no responsibility for accuracy and completeness for any information of press releases or blogs published on this site as they are submitted directly by different companies/individuals/third parties. We recommend to directly contact the poster through the contact information published on the news release NOT PressMediaWire.com. Please do not contact PressMediaWire.com. We will be unable to assist you with your inquiry. PressMediaWire.com disclaims any content contained in these releases.
© 2007 – 2013 PressMediaWire.com. All rights reserved. Submit Press Release – Press Release Distibution Service – Free Press Release Distribution – news release distribution – press release template – press release writing – online press release distribution – seo press release service RSS
Home� |�Help Center | Press Release Format & Press Release Tips | Terms & Conditions | Editorial Guidelines | Privacy Policy | Contact Us
Use of this website signifies your agreement to the Terms of Service.
By | 2016-03-19T02:56:10+00:00 March 19th, 2016|Uncategorized|0 Comments

About the Author:

Leave A Comment