www.blackrockoilandgasplc.co.uk
www.vsaresources.com
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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

Has anyone found anything more solid than end of 06 for first production of oil?

BB1, Arce production is reckoned to be fairly imminent (drilling to take place "in the coming weeks"); this will be initial production following which the resource will be steam-flood tested in the hopes of increasing output. All this is subject to the usual caveats and potential for delays, but all being well it looks like BLR should be producing at the steam-flood higher rate by the end of the year at the latest, assuming that steam-flooding is successful.

I think the co is being sensible in no longer telling us too precisely and/or optimistically when they think that production may occur, as any delay, no matter how justifiable, only has a detrimental effect on the SP.

All IMHO, PDYOR.

there was a good write up in the shares mag last week

Soul Traders, your right BLR need to keep investment and reduce there spread especially if further fund raising is needed. For this reason its not good to speculate as investors being investors always take speculation as gospal!!!! Shows good management, now it SEO had done the same with Greenseal, who knows where the sp would be now.

Taylor any chance of posting it please ?

Here it is !


Arce Drilling Commences

RNS Number:1514E
Black Rock Oil & Gas PLC
07 June 2006


For immediate release 7th June 2006


Black Rock Oil & Gas PLC

("Black Rock" or the "Company")


Drilling commenced at Arce Oil Field in Colombia


The Board of Black Rock Oil is pleased to announce that the drilling of the Acre
4 development well has commenced by its joint venture partner, Kappa Resources
Colombia Limited ("Kappa"). The rig arrived on site last week and the Arce 4
well has now been spudded.


Arce 4 is expected to take 15-20 days to drill, test and complete. Subsequently
the drill rig will be moved to Arce 2 where the gravel pack will be replaced.


In addition, the Company confirms that the steam generator is expected on site
at the Arce field by early July and that preparation is being made for the steam
testing programme to commence. Steam injection and production is a proven
technique used in Colombia to increase oil flow by lowering the oil viscosity
and is being use for production in adjacent fields. As set out in the Company's
Annual Report and Accounts for the year ended 30 June 2005, the Arce field has
estimated recoverable reserves in excess of 5 million barrels of which the
Company has a 50% equity.


Testing is also scheduled on the Baul field within the licence area in the
coming months. The Baul well was previously on commercial production but shut-in
in 1961 due to the then prevailing low oil price. If the well is in good
condition, it will be tested with a view to potentially declaring commerciality
during 2006.


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


"Our aim remains to book reserves in excess of 2.5 million barrels and to
generate cashflow in the second half of 2006. We are optimistic that the Arce
field will be in commercial production later this year.


"The spudding of Arce-4 represents the first stage of our development, appraisal
and exploration programme in 2006 and the Arce steam testing project should
start to generate cash flow for the Company later this year."

Don't hold your breath ! We've probably seen the spike already as the sp has risen in anticipation of this announcement.. sp will will probably settle back into it's previous trading range !
Hope I'm wrong and it shoots up to 5-10p but can't see that happening in the current climate

It ll seems to be heading in the right direction, that's the main thing. I too would love to see 10p a share; a lot will depend upon bookable reserves from Monterey as the Bukhara prospect is very iffy due to doubts about commerciality; if Bukhara does come good then that could be a company-maker.

I think, intially, however, we'll have to content ourselves with baby steps - getting to around 2p on positive initial news from Arce would be a great achievement. The good thing about BLR is that IMO it seems to be well-placed to add a series of bits of good news to produce a decent little company, and I think the rewards will be there for those who are prepared to wait.

Still, WDIK, time willl tell.

BTW I don't know what spreads you're being quoted at the moment, but dummy trades of 100k got me 1.52/1.6.

My online broker, however, has an indicative spread of 1.2/1.6, valuing my holding at 20% below what the market is currently bidding. Pity, as 1.5p would have me breaking even :o)

Black Rock - Arce Drilling commences
07 June 2006 (09:48:47)
Black Rock - Arce Drilling commences
As expected - albeit a bit delayed - drilling of the Acre 4 development well is now underway with Black Rock's (BLR) JV partner, Kappa Resources taking the lead. It is expected to take 15-20 days to drill, test and complete. Subsequently the drill rig will be moved to Arce 2 where the gravel pack will be replaced. The aim remains to book reserves in excess of 2.5 million barrels and to generate cashflow in the second half of this year. I am optimistic that the Arce field will be in commercial production later this year.

The company has deliberately chosen highly prospective acreage and in Kappa, it has a highly experienced partner with an impressive track record. With Black Rock itself believing that its prospects have never looked better, I find myself inclined to agree. I continue to maintain that Black Rock's assets (in fact Arce on its own) are as attractive as ever and clearly worth a multiple of today's price even on a heavily risk weighted basis. With the shares trading at 1.35p, the stance is "speculative buy". One word of caution, the spread is wide enough to drive a bus through (1.1-1.6), but even at the 1.6p offer price, the stock is cheap.

The "bus" is now down to around the size of a small family saloon: 1.55/1.75, chart for the last six months looking nicer by the day . . .

Stock market report tonight

In a regulatory statement that was headed Arce Drilling Commences, Black Rock Oil & Gas gave a positive operational update. Its shares rose 0.1p to 1.55p. Drilling of the Arce 4 development well in Columbia has been started by its joint venture partner Kappa Resources. The rig arrived on site last week and the Arce 4 well has now been spudded. Arce 4 is expected to take 15-20 days to drill, test and complete. Subsequently the drill rig will be moved to Arce 2.

Watson Farley bags LNG pioneer Excelerate Energy as client on offshore power deal

Watson Farley & Williams has secured a role advising new client Excelerate Energy on a unique gas project in Teesside Port which will see the region become a major centre for natural gas supply in the UK.

The company is investing in five customised ships which import liquefied natural gas (LNG) and are adapted to convert LNG to natural gas on board, a relatively new development for the sector.

Each vessel can supply up to 3% of the UK winter peak requirements while the venture allows the company to take advantage of reduced regulations by sending less volatile natural gas ashore.

The deal, which saw Watson Farley advise on commercial agreements between Excelerate and UK port PD Teesport and processing terminal PX Limited, was brought to the firm by energy consultant Anna Soroko, who joined in January.

Soroko, who has previously worked in-house at AMOCO and TXU, joined Watson Farley from East Anglia firm Kester Cunningham John. Soroko received the referral from Gas Strategies, which acted as consultant to Excel-erate on the project. Excelerate is a private company formed in 2003 to pursue LNG projects. The business is backed by George B Kaiser, owner of Kaiser-Francis Oil and a majority shareholder of NASDAQ-listed BOK Financial. PD Teesport and PX were advised by their in-house teams on the transaction.

Soroko told Legal Week: "This project is truly unique. In many ways its value is to the UK should we have a situation such as last winter when the ships could come in like the cavalry at times of high demand and low supply."

The deal will be regarded as a profile-raiser for Watson Farleys energy practice, which has built an established reputation for offshore projects in general and LNG in particular, in part on the back of the firms shipping and finance practice.

Energy clients the firm has advised include Black Rock Oil & Gas, Oceaneering International, Statoil and Tanker Pacific.

Author: Caroline Grimshaw
Source: Legal Week
Start Date: 08/06/2006
End Date: 06/07/2006

Good ol' BLR managed to swim upstream once again on heavy buy-side dealing throughout the day - and just check out the spread between the last two trades of the day!

Trade time Price (p) Volume Assumed purchase/sale* (p) Bid (p) Ask (p)
16:25 1.68 15000 purchase 1.5 1.7
16:12 1.6 250000 sale 1.5 1.75

I'm finally out of the red on my holding too - 1.5p!! Nice to see at least one stock doing okay!

Strong performer this morning.

Very strong two hours later, Moneyman - over 15 mil traded, two small purchases just went through at 2p, which means we're getting back to prices last seen in October, and depending on your precise standpoint, you can say the SP's up 25%.

Go, Greased Lightning !!! :o)

Does anyone have any idea as to why the mms have KILLED the trading by going back to a massive spread?

No, but when inputting dummy trades a couple of hours ago I found the real spread was much tighter than the indicative spread.

ALthough at the moment, my broker is quoting indicative spread:
BLR Bid: 1.9p Offer: 1.95p Change: 0.325 I haven't checked the "real" spread.

Make of this what you will . . .

Here are the most recent trades recorded by my online broker as examples:

Trade time Price (p) Volume Assumed purchase/sale* Bid (p) Ask (p)
13:39 1.9 165000 sale 1.9 1.95
13:39 1.91 55000 sale 1.9 1.95
13:38 1.85 50000 purchase 1.6 1.95
13:34 1.64 8560 sale 1.6 2

I think we can safely ignore the sale of 8,560 at 1.6p as I have a feeling that this was dealt early this morning and just reported late, although I stand to be corrected by anybody who knows better!

As you can see, the "real" bid price is actually much higher than that indicated in the bid-offer spread quoted (for example) on the list of trades as reported by this website.

Thx very much soul,soon as the spread widens the trading comes to a screeching halt.