Black Dragon Resource Companies, Inc. Announces Six Month Earnings.AUSTIN, Texas -- Black Dragon dragon, mythical beast usually represented as a huge, winged, fire-breathing reptile. For centuries the dragon has been prominent in the folklore of many peoples; thus, its physical characteristics vary greatly and include combinations of numerous animals. Resource Companies, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BDGR) President Rick Michael announced today that the net revenue from 153 OPERATING wells out of a total of 848 wells owned by the corporation, for the first 6 month period, produced a profit of $51,556.
Gross Sales: $471,171.02
Net Sales: $294,205
Total Assets: $12,291,848
Total Net Equity: $4,887,152
Earnings: $51,556
Shares Outstanding
Common: 9,712,000
Convertible Preferred: $4.50 2 1/2% 289,552
Mr. Michael went on to say that July will be the largest month this year. Currently around 2000 barrels have been picked up and another 2,500 barrels of oil are still waiting to be shipped. Mr. Michael also said the purchaser is paying an average of $53 a barrel. Mr. Michael also commented on two other topics. First, regarding the price of the stock. Mr. Michael stated that there is no reason that he knows of to cause the down turn in the share price. The company is increasing production on a monthly basis, which is consistent with the Dragon's business model projections. Second, in the news release dated June 22, 2005, there was a typographical error typographical error - (typo) An error while inputting text via keyboard, made despite the fact that the user knows exactly what to type in. This usually results from the operator's inexperience at keyboarding, rushing, not paying attention, or carelessness. Compare: mouso, thinko. . The article stated, "Plus 75,000 mcf of gas to its growing revenue stream." It should have read "75,000 cf of gas." The balance of the news release was correct. About Black Dragon Resource Companies Black Dragon Resource is focused on the recovery of hydrocarbon hydrocarbon (hī'drōkär`bən), any organic compound composed solely of the elements hydrogen and carbon. The hydrocarbons differ both in the total number of carbon and hydrogen atoms in their molecules and in the proportion of hydrogen reserves through acquisition and project development, specializing on mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the oil and gas-rich Texas and Louisiana oil patch oil patch n. Informal 1. The petroleum and natural gas industry. 2. An oil-producing region. . Forward Looking Statements Certain information discussed in this press release may constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within 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 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 un·true adj. un·tru·er, un·tru·est 1. Contrary to fact; false. 2. Deviating from a standard; not straight, even, level, or exact. 3. Disloyal; unfaithful. because of subsequent events. |
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