www.blackrockoilandgasplc.co.uk
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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

Moneyman, not sure I agree entirely - I know where you're coming from but also think that this has been oversold for months. Just IMO.

Anyhoo, once the market sorts itself out (please Ben, be gentle!) and BLR announce positive drilling/production results, I am sure we'll forget the current woes.

I don't hold these, but as I mentioned yesterday, they really have held up remarkably well under the circumstances. Typically, assuming the show is correct, MMs have widened the spread to deter dealing and to make more out of forced sellers.

Topped up again at 1.9p due to exciting times over the next few months.

think I'll top up again at these levels during the next week or so as well

More press coverage; nice to know everyone's beginning to talk about us:

"Money Week dated 9 June, page 42 mentions Black Rock and that it should start
producing oil next year, providing its first cash flow."

(text of Black Rock e-mail to shareholders).


The "next year" bit strikes me as being a bit sloppy. If memory serves, Burgess said by the end of this year.

My memory's right - see post 319 for full text.

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."

Swapped my Chaco shares for BLR today, I think I did the right thing...only time will prove me right or wrong but I think that the time is on this share's side! OK, go on.....tell me I've made a bad move!
kim

Good move Kim as BLR have an exciting couple of months ahead and plenty of time to get back into Chaco.

Hi Kim, bold move, both companies are looking at exciting times and news!! Fingers crossed you've got your timing right though. All the best..

Thanks Explosive, BLR looked the more exciting company after CHP's update on Wednesday and I think they will have good results before CHP. I will probably buy back into the latter in time.
kim

Shame you can't hold both Kim, CHP could well get a broker update in coming weeks which should help out the sp. Having said this the market seams speculative of CHP at the moment with better offerings in many other companies. Its all very game on at the moment as the bulls are back in town.

Kim, interesting that you swapped Chaco for BLR - I've been trying for months to see the attraction of CHP at recent valuations and just can't bring myself to purchase when I see what else is on offer. As Explosive says, there's a lot of speculation surrounding CHP - I'd be inclined to wait for more news and a maturing of the exploration program.

BLR should be in for exciting times. Arce + Monterey = hopefully a big re-rating!

All IMO, PDYOR, etc.

ST, there seams to be many an investor that share your CHP line of thinking. I think the plays will come later in the year however theres always the possibility of a farm out agreement or partnership which I think would cause a quick rise.

BLR I agree is very exciting and a re-rating is overdue. Should we see a bull market next week there no reason why BLR shouldn't find stability at 2p even without any announcement.

ST, I sort of jumped on the band wagon with CHP, without too much research - not something I normally do. I haven't become disillusioned with them, although obviously there is always a big risk in investing in this sort of company, I just feel that they are still a long way off making any real headway and my money will fare a lot better with BLR. Time will tell; I have been wrong before......many, many times!!
kim

Does anyone know why BLR has fallen on such little volume when there is possible good news in short term

Tiny company with low cap will always have exaggerated movements even on low volume ..... also likely to be only one MM

Agreed - don't panic. Could be a tree-shake by the MM in advance of anticipated good news - those City boys have to pay for their Porsches somehow! It certainly doesn't undermine the fundamentals of this stock, which IMHO has never looked better.

quite a tight spread at the moment, too - trades in the last couple of hours have gone through at about 1.53p/1.64.

Marcel - I agree with all to possibe reasons for the small fall. And as you say "possible good news in short term". Possible being the word here... Short term in BLR RNS's is many months as you've probally noticed.

hopefully thats about to change

Grim isn't it ?
Just hope that we get the RNS later today or tomorrow as topping this morning... Just hope that all the hype will be worth it !