Scott Smith, CEO of Black Dragon Resource, said: “Drilling has begun on the initial well in the primary 5 well pattern. This project has excellent potential for production and also utilizes top tier technology.
“I feel that this project will be a major turning point for Black Dragon because it creates a working relationship with other companies that have patented technology that Dragon could benefit from, as well as the fact that is gets Dragon involved in additional oil and gas fields above and beyond our norm.”
Also, on the 640 acre lease, the two gas wells drilled recently will be connected to the gas gathering line for commercial sale. Black Dragon is also looking at the possibility of picking up two additional wells that are located on the subject property that were abandoned in 1999 when gas prices were too low to make them profitable for production. The two recently drilled gas wells are currently shut in waiting for utility connection, but they have gas pressure.
