Black Dragon Resource Companies, Inc. Closes on the Purchase of 116 Oil & Gas Wells.

AUSTIN, Texas -- Black Dragon Resource Companies, Inc. (OTC:BDGR) announced today that last Friday the Company finalized the purchase of 116 wells. With this purchase, the Company will have over 417 wells, and is working on acquiring an additional 305 oil and gas wells. With those additional wells, the Company hopes to produce over 5,000 barrels a month.

President Rick Michael stated that with the rising costs of steel, oil, and interest rates does not lead to a pretty picture. With President Bush asking for a 10 year energy package and China and other nations gobbling up all excess oil, we at Black Dragon feel that it is an obligation to do our part and help increase domestic oil and gas production. In less than five months, we will have in excess of 800 Oil & Gas wells, and in less than nine months that number should increase to over 1000, and have production close to 20,000 barrels a month. By the end of the year, we are hoping to be doing a 1,000 barrels a day, and over 30,000 barrels a month.

Mr. Michael went on to say that he feels confident that the Company can reach these goals, and to assist in meeting them, the Company is starting their own drilling program. Also, the Company is staffing up work over crews to maintain and put on the wells the Company currently owns, and is acquiring. In conclusion, Mr. Michael stated that the company now has 305 wells, and that April's production was even better than March's, and that May should be even higher.

About Black Dragon Resource Companies

Black Dragon Resource is focused on the recovery of hydrocarbon 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.

Forward-Looking Statements 

Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statement 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 on 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 because of subsequent events.