Black Dragon increases oil production over 51 percent from 1st to 3rd quarter

Source: Black Dragon Resource Companies, Inc. 

Black Dragon Resource Companies, Inc. (Pink Sheets:BDGR ) is pleased to announce that company oil production increased 51.7percent from the 1st to the 3rd quarter. Management announced that production for the 3rd quarter was 7,236 barrels. September monthly production was down slightly to 2,521 barrels.

1st quarter: 4,270
2nd quarter: 6,536
3rd quarter: 7,236 

Management's goal for September was 3,033 barrels thereby missing this goal by 512 barrels. However, 400 plus barrels were not picked up because the bsw was 0.2% and bsw cannot be over 0.1%. 9 month total production was 18,542 barrels, averaging 2,060 barrels per month. Management still remains confident with recently announced guidance figures for the remainder of 2010. 

Management feels that 4th quarter production will reach over 15,000 barrels, whereby the company could produce 33,342 barrels in 2010, or an average of 2,795 barrels per month. 

With the price of oil now over $81.00/barrel and production on the rise, the company has the possibility of grossing over 1 million dollars for the quarter.

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