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

Weird just done dummy trade being offered 1.50 to sell & 1.50 to buy how does that work???

Different MMs have different prices, your broker would have got you the best price in each scenario.

I can buy upto 2.5 Million share @ 1.43 should i be reading into to anything?

Marcel, with the greatest of respect, I think that what you really should be reading is the background information relating to this company, of which a lot, including some excellent comment and opinion, was posted on this thread between the beginning of March up to around early June. There is also a lot of useful info on the company's own website. Links have been posted in the aforementioned material on this thread.

I apologise if I am guilty of misunderstanding the nature of your posts, but the amount of nervousness you're showing makes me wonder whether you bet your house on this stock based on a tip given you by some shifty-looking character you bumped into at the local greyhound track.

Those of us who have done our homework aren't panicking about people's share dealings; we're concentrating on the fact that this company is in the business of producing oil and gas which is likely to be worth a lot of money in the very near future. And if we turn out to be wrong, well, that's a risk we've decided to accept.

I apologise for being blunt, but your posts are becoming almost painful to read and I'd really like to help you to understand for yourself why some of us consider this co to be a good, albeit still risky, investment.

Rutherford, it may help people like Marcel if the header to this thread was improved to include Resource estimates, conservative valuations, timetable of likely work, Block licenses etc or just a link to the BLR website. Only a thought! :-)

Great buying opportunity - 1.3p now.

risky though ! what if the news disappoints and the sp goes down to 1p ?

Then you'll have got into a situation the economists like to call Getting Your Ar*e Burnt.

only if you stick you head in the sand in the hot sunshine without wearing knix!

Cynic, don't laugh - it happens more frequently than you might think :o)

Skyhigh - forgive my unruly sense of humour. If both Arce and Monterey turn out to be non-commercial then it might be worth reviewing your reasons for holding. I'd like to be more specific but don't have the time currently to explore the implications. WIll try and catch up on it sometime soon.

Could do with some good news now, lets be positive and look forward to a mmm gush!

LONDON (AFX) - Black Rock Oil & Gas PLC said it has placed 110 mln new shares at a price of 1.1p per share to raise 1.2 mln stg of additional working capital for appraisal activities.
The company has also issued 2.5 mln new shares at the same price in respect of fees due for technical consultancy services.

Following admission to trading on AIM of the new shares, Black Rock will have a total issued share capital of 690 mln shares.newsdesk@afxnews.comtcCOPYRIGHTCopyright AFX News Limited 2005. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited

Looks like another dip in the sp is coming..

I take that as good news as plenty wells being drilled between now and New Year and needed funding for monterey and other Arce wells+ Baul to be drilled. Monterey in North Sea starts around beginning of August and rig already booked for it.
Now funding out of the road for the short term we need RNS with Arce 4 results which are hopefully positive.
I will try to alter heading to include more info when time permits.

Rutherford, I agree to get the funding out the way is always good news. I think we'll see an initial dip in the sp however it leaves the rest of the year for more positive news and RNS's. Fingers crossed stability is found at the 1p mark in the next few days, having said that it wouldn't surprise me to see an RNS before Wednesday next week giving us a revised drilling timetable.

I am going to put new header with revised drilling for the year at top. This was discussed at oilbarrel presentation on Thursday 6th July 06.
Monday should see an RNS for Arce 4 testing or for sure next week.

Unfortunately it is going to be a bad news.Its is only my view and guessed it from this money raising tactic.If the new is going to be good,Do you think anyone in the right mind will try to raise money before the news is out--If the news is going to be good then the share price will go up and would be much easier to raise money without further dilution to existing issue.Therefore,what I think the news is going to be not so good and they don't want to loose the chance to raise money for furure plans.Be brave only the god knows the our futures will be---I am very tensed now-----------

Sorry to add my support that bad news is likely ...... take as an example VOG's latest report .... that canme out almost the last knockings of the timescale given ..... bad figures always take longer to add up than good.

You guys need to relax before you get an ulcer!The good thing about BLR is that they have a variety of regions to play with although I wish they would dip into the more risky regions like the Falklands were possible gains are huge and excite the market alot more.These so called safe spots are not producing alot of result!

Chav, the reason BLR isn't in the Falklands is because it would cost a lot of money that it just doesn't have. DES and FOGL are burning a lot of cash down there and it's going to be a long time before they produce any results. BLR very sensibly decided to go for overlooked projects that were near to production in order to produce near-term cashflow (in contrast to what they had going on in Australia a year or two ago, which was high-risk and produced nothing but dusters).

As for exciting the market, well, I'm afraid that at times both DES and FOGL have been overrated. The high SP's have been the result of a lot of speculation, and the realistion of the companies' vision just isn't there yet.

I would expect BLR to broaden its portfolio again once it starts producing in Colombia and/or the North Sea, as it will then hopefully have the cashflow basis with which to do so.

Re: the possible nature of forthcoming announcements: I'm afraid I can't give my backing to the pessimists all that easily. Greatsuccess, I have to wonder exactly what "good news" you might have been expecting. Arce has been, to a certain extent, a known quantity for a while. We know that there is oil there; we know that a typical well will flow around 30 bopd without stimulation such as steaming. So any announcement such as "Arce 4 has been drilled and is flowing 25-30 bopd" is within the realms of what was to be expected. They were never going to say, "Actually, Arce has surprised us all and is now producing at 15,000 bopd!" Of course, Arce 4 may turn out to be an abject failure, but I think it's unlikely. The greater excitement will come with news of successful steam testing, but thanks to BLR's excellent attention to detail in their presentation, it is now clear that the testing will take a while. It's also good to see the detail of the well-drilling programme for the rest of the field - which hopfeully augurs well for the economic viability of Arce, but we shall have to wait for the testing of wells 2 - 4.

I am not surprised that BLR has made another cash call, as they never have a huge amount of funds in the bank. In view of the SP activity (read: "instability") I think they have simply done the sensible thing and raised some more funds as and when needed, while the SP/placing price is still above 1p.

The news for the rest of the Las Quinchas Block looks good as well - maybe I've been asleep but I had not previously given consideration to the details regarding further prospects and leads on this block, i.e.:

Acacia (50-100mmbo*): heavy oil
prospect
South Lalinda (10 mmbo*):
heavy oil prospect
Rio Viejo/La Tolda (49 mmbo*):
light oil, 18,000 ft target depth
Morroa another deep Cretaceous
play

For my money, it looks like this one is heading in the right direction, but it could take time. It occurs to me also that BLR may have issued shares now at 1.1p out of respect for those who are involved in the placing - the company would become very unpopular if it issued stock at, say 2p on a price spike, only for the share price to drop back to current levels purely on volatility issues, and then there would be no more investors, no more placings, and no more Black Rock.

PS - Rutherford, thanks for updating the header and providing other useful info!