Black Dragon Res. Inc. announces the Perkins lease is operational and well # 14 is in production.
Oil City, La., August 21, 2011---Black Dragon Resources Companies, Inc.(Pink Sheet: BDGR) and Dragon Exploration Resources (Frankfurt Exchange 8BD) are pleased to announce that the Perkins lease is now operational. We are working on expanding two new leases that will add an additional 13 wells with no depth limitation. These new properties will be worked with our joint venture partners.
Management is pleased to announce that Land Co. well # 14 has been cleaned up and now in production. We are now looking forward to starting to rework three wells. Our goal is to increase the Land Co lease production to 2000 to 2500 barrels a month. Management is still monitoring the well #14 and production number will be announced as soon as it settles. Management is expecting funds soon, from partner, so we can move forward with our drilling plan.
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 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 because of subsequent events.
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