www.blackrockpetroleum.com.au

OVERVIEW

Black Rock Petroleum NL was admitted to OFEX on 18 October 1999 and announced on 23 February 2001 that it intended to make application for ordinary shares to be admitted to AIM, to raise further equity capital and to re-organise the capital structure of the company by interposing Black Rock Oil & Gas PLC as the holding company of the Black Rock Group. This was achieved on 25 April 2001 through the admission on AIM of Black Rock Oil & Gas PLC and completion of an equity raising of 700,000.

As of January 2004 the Company is in the process of rationalising and revamping both its philosophy and exploration portfolio. This was initiated by the appointment of Ivan BURGESS, an experienced petroleum geologist to the Board on the 12th January. Ivan had previously been a director and Chief Executive Officer of an Australian Oil and Gas explorer. During early to mid 2004 Black Rock intends to seek listing on the Australian Stock Exchange Limited [ASX] while maintaining its AIM listing. To meet these objectives the Company is seeking quality exploration acreage and production.

The geographical focus of Black Rock remains on Europe, the Mediterranean and Middle East and Australia. Black Rock is concentrating on areas where any commercial discoveries could be rapidly developed. The Company currently has acreage in Australia and England


GEOGRAPHICAL FOCUS

The technical personnel associated with the company have a long industry experience in the following geographical areas of focus.

PROPERTIES
These focus areas are:

Australia


Western and Central Europe


North America


Africa & the Middle East


CAPITAL STRUCTURE

97,625,200 Ordinary Shares (Quoted)

45,600,200 Warrants exercisable at one pence each up to 1 May 2004 (Quoted)

4,885,012 Warrants exercisable at 5 pence each up to 8 April 2005 (Unquoted)

DIRECTORS SHAREHOLDING

The Directors control approximately 15.8% of the Ordinary Shares and 30.89% of the Warrants.


DIRECTORS

Mr David C Steinepreis

Mr Ivan Burgess

Mr Gary Steinepreis

View director profiles

Chairman
Managing Director

Non Executive Director


Recent management changes and the fund raising announcement last week indicate that the company are on the move.

Oilbarrel has an interesting article on Black Rock, the final two paragraphs sum up the current prospects:

"It is thought there could be 300 million barrels of oil at Sandhills. Total success would mean 15 million barrels to Black Rock. Valuing the oil at 1 a barrel would mean 15 million to Black Rock. Its current market capitalisation is around 1.6 million. But this is the stuff of dreams, and not reality at the moment. You never know until you drill. Also, as we have said, recovery rates are not great onshore the UK. But any kind of find would be significant for Black Rock.

Back in Australia, Ivan Burgess, who was with Norwest Energy, has joined David Steinpreis at Black Rock. He is well known explorer and is currently looking at possible deals in the highly prospective Cooper Basin in central Australia"


RNS Number:9402V
Black Rock Oil & Gas PLC
01 March 2004


Black Rock Oil & Gas Plc


1 March 2004

The Directors of Black Rock Oil & Gas PLC ("Black Rock" or "the Company") are
pleased to announce that Northern Petroleum PLC ("Northern"), the operator of
its Isle of Wight project has today signed a contract for the provision of all
engineering, procurement and project management with Aberdeen Drilling
Management Limited for the drilling of the Sandhills 2 well.

The Joint Venture will now apply for planning consents for the operations in the
very near future and, providing there are no significant delays in the granting
of those planning permissions, we would hope to construct a site and move the
rig onto the Isle of Wight drilling sites in the near future.

Black Rock now looks forward to drilling a potentially low risk appraisal well
as soon as possible. The Company has a 5% free carried interest in the well
which will test a logged oil accumulation estimated by Northern, to have the
potential to contain 15.3 million barrels of recoverable oil.

Drilled in 1982, Sandhills 1, encountered oil in the Jurassic Great Oolite
reservoir rocks. The well was not tested.

Re-examination of the Sandhills 1 well which contained oil shows, and with the
benefit of knowledge gained since it was drilled and utilising newer technical
capabilities has established logged oil reserves on the Isle of Wight. Using a
20% recovery factor, these are calculated at 9.7 million barrels recoverable in
the probable category and increased to 15.3 million barrels if the possible
category of potential reserves is included.


For further information please contact:

Ivan Burgess
Black Rock Oil & Gas Plc
Tel: +61 89 481 2407
Mob: 0423 881 507

David Steinepreis

Tel: +61 89 481 2407

www.blackrockpetroleum.com.au


This information is provided by RNS
The company news service from the London Stock Exchange
END
JVETRMFTMMATBAI

Forecast Key Dates
Next interim announcement 31 - Mar - 2004
Next year end (to be reported) 30 - Jun - 2004
AGM for next annual report 09 - Sep - 2004
Next annual report due 19 - Dec - 2004
Next prelim announcement 22 - Dec - 2004

Current Price 1.75-2.25 pence.

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