April 22, 2010 (FinancialWire) — Black Dragon Resource Companies, Inc.'s (OTC: BDGR) has a commitment from interested investors to fund a Cotton Valley well drilling program, according to Scott D. Smith, chairman and CEO.

This project will couple an aggressive acreage acquisition program with the 640-acre lease that Dragon has already in its inventory. The two shallow wells drilled on this property in December will be tied into a pipeline for gas sales in the near term, as they show good pressure at the well heads.

Drilling the Cotton Valley strata on this particular 640-acre parcel is a very attractive investment, because a major oil & gas company drilled a well on contiguous acreage, which flushed in at almost 12 million cubic feet of gas per day, and continues to be highly productive to date.

BDGR hopes to mirror this well's results, with its adjacent acreage, as the Cotton Valley is a blanket formation covering much of East Texas and Northwest Louisiana with depths ranging from 9,000-12,000 feet, depending on location.

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