August 20, 2009 (FinancialWire) — Black Dragon Resource Companies, Inc. (OTC: BDGR) has announced that an agreement has been reached with certain landowners in Caddo Parish, LA, for an 80% revenue interest, with a 75% working interest lease on 640 acres.

Under the lease agreement, two wells must be drilled before the middle of December, 2009. These are shallow oil wells, under 3000 ft. Drilling will be contracted by competitive bidding. A five well program is anticipated that could add significant reserves, yet to be calculated. In addition, as the Operator on this lease, it puts Black Dragon in a good economic position as this property overlays the attractive Haynesville Shale and could attract other development interest.

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.

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