OIL CITY, La., June 22, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies Inc.'s ("the Company", "Dragon") (Pink Sheets:BDGR) management announces 2008 year end revenue of $1,789,508.65 vs. 2007 revenue of $1,943,938.16. Net profit for 2008 was roughly $673,641.94 compared to 2007 net profit of roughly $171,477.26, an increase of $502,164.68 for year ending in 2008. Black Dragon is pleased to announce the company is growing to be a major player in the oil and gas industry and will maintain focused on adding shareholder value as well as rapidly growing the company.
Black Dragon's assets grew to $17,751,847.16 in 2008 compared to $16,707,855.74 in 2007, showing an increase of $1,043,991.42. Liabilities for 2008 were $924,392.38, down from $4,165,176.52 in 2007.
The full financial report will be out on www.pinksheets.com in the very near term. Black Dragon is working to become a fully reporting company.
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.