OIL CITY, La., Oct. 21, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company", "Dragon") (Pink Sheets:BDGR) reports that reporting requirements for a clean listing on www.Pinksheets.com will be published in a few days. A full disclosure statement on the state of the Company has been prepared and Counsel is reviewing prior to sending to Pinksheets.com. This will meet their requirements for the Company to achieve the clean reporting status. CEO Dr. Bailey also stated that, "In addition to full disclosure, Dragon is preparing the third quarter financial report for posting on both the website and Pinksheets.com, which will put Dragon completely up to date and transparent, more than the Company has ever been, now that the prior management is out and a new era is in place."
Plans are still in place to have a complete audit performed and to get an Oil & Gas reserves report done, both of which will clearly establish the financial health and asset base of the Company. Bailey said he believes "the upward movement in the stock represents support in the program and a growing credibility in the Company's intentions to maximize value for its shareholders." With gas and oil prices making a steady climb, this bodes well for the Company bottom line.
Recent Black Dragon Oil and Gas wells, rigs, and production photos:
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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.