Black Dragon Resource Companies, Inc. Reports Revenues; March Oil Production & Shipments Exceed Prior Two Months Combined.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) announced today that crude oil production and shipments grew one-hundred percent to 1625 barrels in the month of March, exceeding oil production and shipment figures for the previous two months combined, resulting in unaudited revenues of $180,000 for the first quarter. The Company reported it was marginally profitable. President Rick Michael stated that, "We continue to be on a fast-track in executing our oil patch oil patch n. Informal 1. The petroleum and natural gas industry. 2. An oil-producing region. roll-up roll-up A master limited partnership in which a number of existing limited partnerships are pooled into a single partnership. strategy. We expect to ship approximately 3,500 barrels of oil in the month of April alone, roughly equaling the entire first quarter's production." He added, "We're projecting continued quantum increases in production, and expect to ship up to 10,000 barrels in the second quarter ending June, an almost three hundred percent increase over our first quarter. This will generate revenues for the quarter of approximately $500,000, and we will be solidly profitable." The Company stated that with the first quarter being complete, it will produce audited financials shortly and file to achieve reporting-company status and apply for trading of it's securities on a higher exchange 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. 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 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 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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