www.blackrockoilandgasplc.co.uk
www.vsaresources.com
www.oilbarrel.com
Presentation from Thursday 6th July 06 can be seen on oilbarrel !


Monterey appraisal well suspended pending Wintershall evaluation. 1/12/06
BLR and Kappa in dispute.
BLR to meet with Kappa within next two weeks 1/12/06

Black Rock Oil & Gas PLC
24 February 2006


For immediate release

24 February 2006


Black Rock Oil & Gas PLC

('Black Rock' or the 'Company')

Update on proposed steam testing of the Acre Oil Field in Colombia


Field Update


The Board of Black Rock Oil is pleased to announce that during a visit to
Colombia this week by the Chairman and Managing Director of the Company,
agreement has been reached with the Company's Colombian joint venture partner,
Kappa Resources Colombia Limited ('Kappa'), for the completion by their joint
venture of the Arce 2 Appraisal Well as part of the preparations for conducting
a steam test of the Arce Oil Field in the Las Quinchas Block, Middle Magdalena
Basin, Colombia.


As previously announced in April 2005, the Company acquired a 50 per cent.
non-operated equity interest from Kappa in the 249,000 acre Las Quinchas
Association Contract located in the prolific Middle Magdalena Valley of Colombia
. The Company and Kappa have agreed that their joint venture will commence
steaming the Arce Oil Field, once manufacture of equipment has been completed in
California, USA and transported to location.


As set out in the Company's Annual Report and Accounts for the year ended 30
June 2005, the Board of Black Rock anticipates that the Arce Oil Field,
estimated to contain gross recoverable oil reserves of 5 million barrels, could
be in commercial production during 2006. Should these operations prove
successful, further production wells will be drilled into the field to increase
the daily production rate.


Black Rock and Kappa have also agreed to re-enter the Baul Well which was
previously on commercial production but shut-in in 1961 due to the then
prevailing low oil price. If the Baul Well is in good condition, it will be
tested with a view to declaring commerciality during 2006.


Ivan Burgess, Managing Director of Black Rock Oil & Gas plc, commented:


'This represents the first stage of our active development, appraisal and
exploration programme in 2006. If successful, the Arce steam flood project
should start to generate cash flow for the Company later this year, which would
be another strategic milestone for Black Rock.'


Qualified Person and other matters


Dr John Cubitt (a Director of the Company) has been involved in the oil and gas
production for more than 26 years. Dr John Cubitt is a registered Chartered
Geologist (CGeol) and has a BSc and PhD in geology. He has compiled, read and
approved the technical disclosure in this regulatory announcement relating to
the Company's interests in Colombia.



The Company also clarifies that the placing completed by the Company earlier
this month, in which Rickerbys participated, was done at a placing price of 1p
per ordinary share and not the nominal value. As previously announced Rickerby's
increased their interest in the Company from 2.75 per cent. to 6.06 per cent..



ENDS



For further information, please contact:

Black Rock Oil & Gas plc
Ivan Burgess, Managing Director Tel: 020 7240 3953
Mobile: 07917 185129

www.blackrockoil.com

We should start moving north now.

Great news. I'm in for a few.

Lots of buys now.

Up over 13% now.

Hi GOAL,
I jumped in @1.56.
Very xited about this one

Good for you capetown, i am holding a loss at the moment but not concern because BLR is soo cheap IMO i think i am going to be a big winner in the long run.

Lets hope so for all holders!
If you aint in it,you cant win it!
Cheers

Been holding a loss for 2 years now ..but will hold because i believe in them. Will come good this year. :-))))

27% SPREAD!

THATS a nasty spread!!!!,whats that all about?

Hey, I'm learning.

It will narrow when they sell more shares i hope it because they have pleanty to sell,it was much narrower earlier.I am happy as i got in at a good price today,see that the buyers are still here!.Good luck

I thought it would have been narrower earlier, sadly I was away from the PC.

It was 10% at one stage.
DONT sell

Good positive RNS, lets see what the test results are. Still a watch share for me at present.

Still have California and N Sea news to come. This could build strongly from this level especially with a little press to boot.

From Oil Barrel Today

Black Rock Provides Update On Near Term Production Opportunities In Colombia Investors have been waiting for some months for an update from Black Rock Oil & Gas on its operations in Colombia. There had been something of a hiatus in newsflow just as the AIM-quoted company seemed to be really motoring in the South American country, having drilled two appraisal wells on the Arce heavy oilfield and talked of near-term production opportunities in 2006.

Now it seems the company, which in December exited its Australian business in order to focus on its operations in Colombia and the North Sea, has reached agreement with its 50/50 joint venture partner Kappa Resources to complete the Arce-2 well ahead of a steam flood production test. While the project is never going to be a company-maker, it does hold the promise for maiden production later this year.

Black Rock took 50 per cent of the Arce oilfield, which lies in the Las Quinchas Block in Colombias Middle Magdalena Basin, in April 2005. There followed a series of appraisal wells: Arce-3 came in pretty much in line with expectations, flowing between 25 and 36 barrels per day of sticky 13.5 degree API oil, while Arce-2 flowed at rates of between 10 and 60 bpd.

The partners plan to steam flood the field, a process which should make the heavy oil more mobile and so increase flow rates. Steam flooding is a common technique on heavy oilfields in Colombia and has been proven to increase production rates by a factor of five or ten. The steam test will begin once the necessary hardware has been manufactured and shipped to the oilfield. Should this technique prove a success at Arce-2, then further production wells will be drilled into the field to increase the daily production rate.

Black Rock and Kappa have also agreed to re-enter the once producing Baul well, which was shut-in in 1961 due to low oil prices. If the wellbore is found to be in good condition, then it will be production tested to check the reservoirs commercial viability.

Las Quinchas is also home to the Bukhara prospect. Bukhara has the potential to hold 70 million barrels of heavy waxy crude although results from the Bukhara-1 well proved inconclusive. Further testing and work will be needed on this deposit. The company also holds 50 per cent of the adjacent Kappa-operated Alhucema licence. New 2D seismic and drilling work is planned on Alhucema this year.

It adds up to an interesting cluster of projects, which seems to justify Black Rocks decision to switch attention from Australia to Colombia. The fiscal and licensing regime is favourable to start-ups and the Colombians, anxious to attract inward investment to shore up production levels, have announced their intention to further reduce corporation tax, from 38.5 per cent to 28.5 per cent.

There is also plenty of scope for smaller companies to revisit existing but undeveloped oil finds, such as Arce and Baul. This is not wildcat territory, which derisks some of the drilling, and even the Middle Magdalena Basins modest deposits of heavy waxy crude can be made to work when oil prices are this high. Heavy oil isnt the high margin end of the business but there are advantages to being in the Middle Magdalena: this is a prolific oil province, having produced over 2.2 billion barrels of oil, and a major oil pipeline runs through the acreage, linking to a refinery capable of handling heavier crudes.

Anyone know where to find the market price for heavy crude? (As opposed to Brent or light crude, which are all over the place)

rpaco

I would try EEN reports for a rough guide? They operate in the same area. Also WH Irelands report think you can see it on the BLR web site for oil in the ground value.

Moneyman I believe they willl need another placing before the north sea happens even though I am led to believe that the rigs have been booked?

Interesting times

regards