Black Dragon Sees Revenue Increase in 4Q10
Black Dragon reported that the company's initial estimated 4th quarter gross production came in at $410,348.00. This is compared to the previous nine months gross revenue of $499,481.00. Year end revenue is expected to be $909,829.00.
According to Tom Neely, President, "Black Dragon saw tremendous revenue growth in the 4th quarter, nearly approaching revenue for the first three quarters of 2010. This was due to additional wells put online. The company will continue putting more wells online in January including our recently announced DeSoto Parish Joint venture Oil and Gas well in which drilling began December 31, 2010. I am excited to announce to shareholders that the company continues to move forward at a time when oil prices are surging."