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CybeRelease: (OTC PK: BDGR) Announces End of Long-Term Convertible Debt


(CybeRelease, February 8, 2007) - Lake Harmony, PA - Black Dragon Resource Companies, Inc. (OTC PK: BDGR) announced today that in preparing for communication of financial data to its audit firm, the Company has determined that the convertible notes payable associated with the Wooldridge Properties are now fully extinguished.

In its September ’06 unaudited statements, the Company had reported total long-term debt in the amount of $6.6 million. This amount was comprised of the above convertible notes ($3.9 million) and notes payable associated with the Caddo Lake property that was previously reported as sold in December of 2006 ($2.4 million). With the elimination of these debts, the company is now free of significant long-term debt and the impact of further dilution associated with its conversion.

About Black Dragon:
Black Dragon Resource Companies, Inc. is an 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.

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