Black Dragon also announced that it has contracted three crews and workover rigs to support its 2006 exploration and production activities. These crews will continue the ongoing program of pulling, repairing and enhancing the production from the Company's wells. Black Dragon has also contracted a fourth crew that will be dedicated to connecting flowlines to tanks and pipelines and electricity to wells reequipped during the year. The Company has also contracted the exclusive use of two crews for drilling new wells, both onshore and over the Ferry Lake area during 2006.
"We are very excited to have acquired such attractive oil and gas properties," said Rick Michael, Black Dragon's President. "The combination of a substantial increase in production and reserves, dedicated equipment to support our drilling activities and strong commodity prices positions the Company for strong growth in 2006."
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