OIL CITY, La., Nov. 10, 2009 (GLOBE NEWSWIRE) -- Scott Smith, CEO and Chairman
of Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink
Sheets:BDGR) announced that due to the resignation of Dr. Bailey, the annual
meeting scheduled for December 2, 2009 will be postponed until the first quarter
of 2010. Mr. Smith stated that great demands are being made on management's time
in order to attain the objectives of the Company's plans set by Dr. Bailey.
Mr. Smith also noted that the Company's staff has received an inordinate number
of shareholder phone calls, making it difficult to conduct necessary business
details. Accordingly, on the advice of Counsel and in order prevent disclosure
of any information not available to all stockholders simultaneously, a strict
policy has been put in place to direct that all communications be addressed in
writing to the Company's web address. The Company will not respond to individual
shareholder calls.
Mr. Smith concluded by stating that the Company intends to release information
periodically as important developments occur. He thanked the stockholders for
their cooperation in following the procedure outlined.
Black Dragon is an oil and gas exploration and production company currently
focused on the acquisition of mature, producing and existing domestic oil and
gas fields. This focus has eliminated exploration risk, reduced costs of
completion, and provided rapid generation of income in a niche market where
larger independent and major oil companies are not positioned to compete. Black
Dragon intends to recomplete additional shallow producing wells and to expand
its focus to include drilling of new wells, some to deeper levels, and to
purchase additional leases.
Forward-Looking Statements - Safe Harbor:
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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CONTACT: Black Dragon Resource Companies, Inc.
Scott D. Smith
318-995-0404
bdgroil@bellsouth.net
www.black-dragonoil.com
