Black Dragon Enters into Agreement to Acquire Ferry Lake Property Rights

AUSTIN, TX, (NAMC) -Black Dragon Resource Companies, Inc. (Pink Sheets: BDGR) announced today that it has entered into an agreement to acquire the shallow rights to Ferry Lake for $3.4 million. Ferry Lake is located in Caddo Pine Island Field in Louisiana. The acquisition, which should be completed by the end of the month, is expected to be financed through debt secured by the property and is expected to increase the Company's revenue to approximately $500,000 per month.

In addition to the production of 2,000 barrels of oil a month and 250,000 mcf of gas per day, the Company has acquired the rights to 8,000 acres. The Company's goal is to lay seven miles of pipeline in November and to drill its first well.

"This announcement represents the second significant acquisition of producing properties this week," said Rick Michael, President of Black Dragon Resource Companies, Inc. "These transactions, in a short period of time, will dramatically increase our cash flow. With energy prices robust, we believe that we can increase our revenue rapidly from these acquisitions."

Earlier this week, the Company announced that it had acquired over 400 wells located in the prolific Caddo Pine Island Field in Louisiana and Texas. Black Dragon expects, once the wells are put into production, that they will add at least 300 barrels per day of oil production.

About Black Dragon Resource Companies, Inc.

Black Dragon is focused on the recovery of oil and gas reserves through acquisition and project development, specializing in mature and marginal field enhancement, developmental exploitation drilling and low-risk exploration opportunities in the Texas and Louisiana regions.

Forward-Looking Statements

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.