CybeRelease: (OTC: BDGR) Revenues Up 69% Over Previous Quarter
(CybeRelease, April 27, 2006) - Lake Harmony, PA - Black Dragon Resource Companies, Inc. (OTC PK: 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.
For a Free Newsletter and more information, go to www.OTCReporter.com
CybeRelease Gainers are Dura Automotive Systems, Inc. (Nasdaq: DRRA), Manhattan Associates, Inc. (Nasdaq: MANH), Sanderson Farms, Inc. (Nasdaq: SAFM), Amsurg Corp. (Nasdaq: AMSG), Leadis Technology, Inc. (Nasdaq: LDIS), Nexstar Broadcasting Group, Inc. (Nasdaq: NXST), QMed Inc. (Nasdaq: QMED) and Sento Corporation (Nasdaq: SNTO).
CybeRelease Decliners are ESS Technology, Inc. (Nasdaq: ESST), Sigmatel, Inc. (Nasdaq: SGTL), BTU International, Inc. (Nasdaq: BTUI), C.H. Robinson Worldwide, Inc. (Nasdaq: CHRW), Advancis Pharmaceutical Corporation (Nasdaq: AVNC), Dai’ei, Inc. (Nasdaq: DAIEY), Magellan Petroleum Corporation (Nasdaq: MPET) and Auxilium Pharmaceuticals, Inc. (Nasdaq: AUXL).
Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor’s reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. A third party has hired and paid CybeRelease $595.00 for the publication of this report. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. We have no ownership of equity, no representation and do no trading of any kind.
- Contact Information
- C. P. Barry
- Media Contact
- Contact via E-mail
This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.