Black Dragon on Caddo Lake; Black Dragon Has Crew Working on Caddo Lake Right Now!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., (Pink Sheets:BDGR) announced today that the company is working on their first shut in well located on Caddo Lake Caddo Lake is a 25,400 acre (103 km²) lake and wetland located on the border between Texas and Louisiana, in northern Harrison County and southern Marion County in Texas and western Caddo Parish in Louisiana. . President, Mr. Rick Michael, stated, "We have 46 shut in wells on Caddo Lake. These wells could add a major amount of production without a huge amount of funds being laid out to put them on. This is a very exciting time for the Company. We've been working on this project for over 18 months now and in a week or less we will be able to see what the first shut in lake well will produce." Mr. Michael went on to say that they are finishing up on a saltwater disposal well, "When it is approved to inject in·ject v. 1. To introduce a substance, such as a drug or vaccine, into a body part. 2. To treat by means of injection. water, Black Dragon will be able to turn on an additional 15 wells. The Company has also staked locations to drill an additional 7 saltwater disposal wells and 40 new Nacatoch oil and gas wells. Summer is here and with the dry conditions we currently have in the oilfield it is time to really turn up the production." 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. regions. 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. |
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