Dragon's 640 acre lease has been drilled to the top of the Nachitoches gas cap rock
Black Dragon Resource Companies, Inc.'s ("the Company", "Dragon") (Pink Sheets:BDGR) Chairman and CEO, Mr. Scott D. Smith, announces today that the initial well on Dragon's 640 acre lease has been drilled to the top of the Nachitoches gas cap rock, and site preparation has begun on the second well location. The second well will be drilled by the end of this week and upon its completion, a smaller rig will be brought in to air drill the last portion of both wells. This process ensures that the wells will be capable of capturing the maximum amount of gas in this delicate formation. If the main drilling rig was to fully complete these wells, Dragon would run the risk of damaging its future returns.
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Replies to This Discussion
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Permalink Reply by BirdDawg, plain ole' idiot on
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What is the "Natchitoches gas cap rock"? Not a term I have heard.
What section-township-range is this?
"Site preparation has begun on the second well location" and "the second well will be drilled by the end of this week"........How deep are these wells?
Any activity in Natchitoches Parish is great. I'm just trying to figure out what you are referring to specifically. -
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Permalink Reply by RAZORBACK on
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Sorry, all the info I have is the article. Could not find any well permitt etc. for Nactitoches Parish!! Confusing to say the least. Tried Black Dragon web page and that led nowhere....
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Black Dragon traded today at $0.003 per share. Not exactly a heavy hitter (an understatement).
Must be drilling some very shallow stuff. I hope a few mineral owners make a dollar or two on it. -
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Razorback,
From what I have found out, it appears that these wells are recompletions in the Paluxey formation, not new wells drilled. It appears that Black Dragon is releasing untrue information, probably in hopes of increasing their poor stock price. I wonder if this is legal?
Also, they only have a "small interest" in the well they are referring to. -
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Permalink Reply by RAZORBACK on
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BirdDawg,
Could be a disinformation play as you say to get a spike in stock price. No activity in Natchitoches Parish can I find. Would be nice to see some exploration in this area. -
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It sure would. I think it will increase when gas prices get better.
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Permalink Reply by Two Dogs, Pirate on -
This is probably just an attempt to keep the lands HBP, to hold the HS rights.
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Permalink Reply by Rob Jordan on
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What's the s t r?...
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Permalink Reply by Skip Peel - Mineral Consultant on
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Black Dragon has been discussed at length in the North Caddo Parish group.
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These wells are situated in Section 7, T19N-R14W, Caddo Parish, Louisiana.
The operator is Petrol Industries, Inc.
#240307 drilled to a total depth of 822 feet.
#240308 drilled to a total depth of 809 feet.
Both are now waiting completion. -
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