793306--4/15/2010--BLUE_DOLPHIN_ENERGY

related topics

{loss, insurance, financial}

{gas, price, oil}

{acquisition, growth, future}

{loan, real, estate}

{competitive, industry, competition}

If the $2.0 million loan receivable remains unpaid, we could deplete our cash reserves by the end of the third quarter of this year. A significant decrease in exploration and production activity in areas where our pipelines are, the decline in production from existing wells, depressed commodity prices or otherwise, would adversely affect our revenues and cash flow. The geographic concentration of our assets may have a greater effect on us as compared to other companies. We face strong competition from larger companies that may negatively affect our ability to carry on operations. We have pursued, and intend to continue to pursue, acquisitions. Our business may be adversely affected if we cannot effectively integrate acquired operations. Losses and liabilities from uninsured or underinsured drilling and operating activities could have a material adverse effect on our financial condition and results of operations.

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793306--4/15/2010--BLUE_DOLPHIN_ENERGY_CO