Black Dragon Resource Companies Reports Gas Production Volumes.AUSTIN Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , 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., (Pink Sheets:BDGR) announced today that the last four out of a series of twelve gas wells have demonstrated a higher volume of gas than the previous eight. The first four wells out of the twelve are currently producing 1.4 million mmcf per month. The last four wells are initially producing around 3 million mmcf per month. Management also stated that since the Company initiated a major rework re·work tr.v. re·worked, re·work·ing, re·works 1. To work over again; revise. 2. To subject to a repeated or new process. n. on their existing wells, gas production has been reported at close to 130 mmcf a day. The gross gas sales could reach a production volume of approximately 8.4 million mmcf a month which would generate approximately $80,000.00 in gross revenue. As previously announced, Black Dragon Resource Companies confirmed that if all the oil produced in the month of August is picked up as scheduled, Black Dragon will meet its monthly production forecast of 4,000 barrels. Gross revenue from the August 2004 oil and gas production will be approximately $300,000.00. About Black Dragon Resource Companies, Inc. Black Dragon is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the Texas and Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. region.
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. Certain information discussed in this press release may constitute forward-looking statements 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. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion