OIL CITY, La., Sept. 29, 2009 (GLOBE NEWSWIRE) -- Black Dragon Resource Companies, Inc. ("the Company," "Dragon") (Pink Sheets:BDGR) announced that the 2009 meeting of shareholders will be held on 2 December, 2009, in Shreveport, LA, at 1 p.m. at the Best Western Richmond Hotel on I-20, exit 13, at the Shreveport Regional Airport. Agenda details will follow in the formal notice to shareholders. Holding an earlier shareholder meeting was postponed in order to finish the updates on financial records. Considerable effort and progress have been made by updating and reporting all financial statements from several years back. All reporting requirements are now current. The first six months financial data have been posted on Pink Sheets. Additional accounting staff have been contracted to accomplish this task. Meanwhile, all Company issues have been appropriately handled by Consent meetings of the Board of Directors. The new management is actively engaged in assuring that records are kept current and that Company activity is transparent to shareholders.
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.