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.