Black Dragon Releases Interim Status Report on Funding and on OMDA Litigation.OIL CITY, La. -- Mr. Joseph Lanza Joseph A. "Socks" Lanza (1904-October 11, 1968) was a New York labor racketeer and a member of the Genovese crime family. Born in Palermo, Sicily, Lanza immigrated to the United States and settled in New York working as a handler in Lower Manhattan's Fulton Fish Market. , President of Black Dragon Resource Companies, Inc. (BDGR: PinkSheets), released an update in response to various recent questions raised by shareholders of the Company. Firstly, he reported that the January 2008 production of oil represented almost a fifty percent (50%) increase over January 2007, 4700 bbl in 2008, compared to 3, 178 in 2007 and that without the enhancement the Company believes it will receive from the new enhanced recovery pump under development. Mr. Lanza predicted that the trend will continue. Mr. Lanza also reported that he has been informed that the Summit group intends to present the preliminary business plan to the Funding Group by the end of this week. Mr. Lanza added that the principals of Summit and the Company's representative have been working diligently last and this week to complete this phase of the project. Mr. Lanza stated that this report will be available to the funding Group to structure the proposed financing. Joseph Lanza noted today that Adam Barnett, of OMDA OMDA O Melhor Dos Animes OMDA Operation Management and Development Agreement (India) OMDA Ontario Mirror Dinghy Association (Canada) OMDA Operations Maintenance and Development Agreement , had released information concerning a recent deposition session with Mr. DeWayne Vanadore, a Tyler, Texas Tyler is the county seat of Smith County in East Texas, United States. The city is named for President John Tyler in recognition of his support for Texas's admission to the United States. Attorney, who formerly represented Mr. Lanza. Under advice of Counsel Mr. Lanza stated it is not appropriate to discuss interim legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. , but emphasized that Mr. Barnett's statements are not correct and that Mr. Vanadore's deposition will be continued in the very near future. The Company will have no further comment until after an important event occurs in this litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . Mr. Lanza stated that Mr. Barnett's comments are directly contrary to the facts as he knows them and as they will be established at trial. Mr. Lanza concluded that the Company's Counsel had recently reiterated their opinion that Black Dragon has meritorious defenses to all of the Plaintiff's charges, which have no merit. About Black Dragon Resource Companies, Inc. (www.black-dragonoil.com) Black Dragon specializes in increasing the production of crude oil and natural gas from wells whose production amounts to 15 barrels of crude oil or less per day. The reduced production of these wells, a result of abandonment or plugging because of dropping prices of crude oil through the 1980s, represents a significant opportunity to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. local resources, while lessening domestic dependence on foreign oil. Black Dragon continues to acquire wells in the oil-rich regions of Louisiana CODE, OF LOUISIANA. In 1822, Peter Derbigny, Edward Livingston, and Moreau Lislet, were selected by the legislature to revise and amend the civil code, and to add to it such laws still in force as were not included therein. and Eastern Texas, augmenting its portfolio to over 400 operating oil wells. Forward Looking Statements: Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission. |
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