CybeRelease: (OTC: BDGR) Provides Summary of Holdings
(CybeRelease, November 6, 2006) - Lake Harmony, PA - Black Dragon Resource Companies, Inc. (OTCPK: BDGR), announced that with itsí recent acquisitions in place, itsí project portfolio as of the end of October includes 20,000 gross mineral acres consisting of 138 oil and gas leases. This comprises approximately 1000 viable well bores of which 450 wells are currently in production in Texas and Louisiana. The Company anticipates that it will have approximately 600 oil and gas wells in production by the end of 2006.
According to Richard Michael, President of Black Dragon, "We are making daily progress in working toward our monthly production targets through the development of several previously announced acquisitions and existing properties. This includes our expectation of putting all 12 wells into production at our Spider Lease property by year end. This will generate around 60 million mcf a month and about 3000 plus gross barrels per month of additional production, of which the company will net 22%. Additionally the completion of our Arkana Field deep gas well will add approximately 24 million mcf of gas by the end of the year, of which the company will net 50%. We are now permitted to drill an additional 8 wells on various properties that will add an additional 4800 gross barrels a month. The completion of the Haynesville Field project will add approximately 4000 additional gross barrels per month by year end from which the Company will net approximately 65%.
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