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Dragon Increases Position In Humble Salt Dome EOR Project

January 8, 2010 (FinancialWire) — Black Dragon Resource Companies, Inc.’s (OTC: BDGR) CEO Scott D. Smith has said that Dragon is going to increase its position in the Humble Salt Dome EOR Project from 6.75% to 16% by the end of next week.

“Drilling has begun on the initial well in the primary 5 well pattern,” stated Smith.

Also, on the 640 acre lease, the two gas wells drilled recently will be connected to the gas gathering line for commercial sale as soon as possible. Dragon is also looking at the possibility of picking up two additional wells that are located on the subject property that were abandoned in 1999 when gas prices were too low to make them profitable for production. The two recently drilled gas wells are currently shut in waiting for utility connection, but they have gas pressure. Before they can be connected for sale, the State will potential their capability, giving us a good idea of production numbers to come.

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.

Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at Recently issued reports and filings include Weatherford International Ltd. (NYSE: WFT), UQM Technologies, Inc. (AMEX: UQM), Panhandle Oil and Gas, Inc. (NYSE: PHX), Encore acquisition Company (NYSE: EAC), Altius Minerals Corp. (TSX: ALS), PKC Group Oyj (PLUS: PKC1V) and Standard Life Investments European Private Equity Trust PLC (LSE: SEP) (PLUS: SEP).

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