Black Dragon is also in discussions to complete a joint venture on its Spider Field.
The company said that it is in the process of sending its land man and geologist to the field to pick the most prolific 12 locations to drill and intends to begin the permit process shortly after.
Black Dragon Resource president Tom Neely said that the addition of these new wells will increase production rates for the company and lead to increased cash flow.
"Black Dragon is committed to enhancing shareholder value by exploiting the full potential of its properties expeditiously," Neely said.
