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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

With thanks to ROL on ADVFN:--

Have just spoken to Ivan.

Sounds like I was at least partly correct in my guess.

The reason the figures werent on the RNS is because its on a sliding scale, and its something which is hard to get across in a snappy RNS. Ivan is just waiting at teh airport for a flight out to Columbia and didnt have the figures on him (another reason maybe why the detail wasnt in the RNS?). He couldnt quote the exact details without his papers, but the ratchet has around six different elements / stages, and works across different time periods. He said that in his view it was a good deal.

He was surprised the SP hadnt reacted more positively, at which point I mentioned that could be because noone knows how good the deal is until they see the other side of it in terms of numbers, which he agreed. He said he would look to get those numbers out to shareholders at his next opportunity.

I asked whether the steaming gear equipment was on site yet. He said he is on way to Columbia now. He said he is going to chase why where the steaming kit is in Columbia, said to me, last he heard was 3-4 weeks ago it was in customs, and to his mind it shouldnt take that long to clear.

Clarification to come. Ivan positive and wanted to get the news out as soon as possible.

Just thinking out loud - Why would Ivan be on his way to Colombia now ? Is he off to witness the steaming ? He could not have said anything to RoL as that would have been market/price sensitive information...


DYOR

Made the Stockmarket Report tonight

Black Rock Oil shares jumped 0.1p to 1.2p after the company said that it had agreed with investment fund Gemini Oil & Gas Fund II that it would fund Black Rock's 15% share of the drilling and testing of the forthcoming 49/8c-4 Monterey appraisal well, in the Southern Gas Basin of the UK North Sea. The company said that Monterey Gas Field was estimated to contain 165 billion cubic feet of reserves. The well will appraise the commerciality of the field.

Another move higher today. Think with confirmed news from ARCE we could see 2p and then Monterey 3p. Great price to get in at and still undervalued when compared to some of it's peers.

Had to tell what are buys & what are sell @ moment can buy 1.19 & sell 1.18

on the move north,

Play update in Shares magazine today.....still a speculative buy.

Bet Shares Mag gets bored or stops it just before the action starts!

I won't, though - I am possessed of incredible patience and a desire to make money sitting at my computer screen!

certainly is a speculative buy, is hardly moved in the past month, people keep saying the price will rise to 2p-3p. with the amount of shares in issue. This will not a consolidation would be approiate similar to SER, but before this happened the price droped.

Shadow with updates expected on ACRE, Ivan is in Colombia at present, and MONTEREY spudding soon you better be quick.

Action time, or at least it should be! DYOR.

'bout time too!

predictable ! bid gone back down again ! can't see why it they change it all around every 5 mins.

Volatility makes the market!

Just got this from TT on ADVFN

BLACK ROCK OIL & GAS
(BLR:AIM) 1.2p
Theres not been too much to shout about since we tipped the oil and
gas independent at 1.2p two months ago (1 June) and the shares are
back where they started. However, striking a deal with the Gemini Fund
II to pay its 15% share of drilling expenses on the Monterey appraisal
well in the North Sea, in exchange for a share in future revenues,
means Black Rock has sensibly de-risked the project. With potential for
165 bcf of gas, the upside is substantial. Still a speculative punt but the
risk/reward pendulum is swinging its way.

'ere we go ! mms playing around with the bid price ! what a waste of time. pointless when they muck around with the sp.
Surely the outlook doesn't change from one minute to the other!?

Moneyman, is that not the quote from Shares Mag? Something about pendulums ("pendula"??) rings a bell.

Skyhigh, you're dead right. The outlook doesn't change from one minute to the next, hence the MM's need to fiddle with the price in order to shift stock and make money.

Bought into these last week with my GOO profits as a rather speculative punt. MMs just not interested at the moment and with 3 on the offer there doesn't appear to be a shortage of stock. A bit of good news will get it going though.

pth

Why is the SHARES MAG highlighting BLR very often?
Probably they see its bright future IMO
in the SHARE MAG dated 02-08March 2006; SHARES said:

Tiny Black Rock Oil&Gas is the latest to strike a deal, getting an agreement from Kappa resources; its joint venture partner in the Acre Oil field, to press ahead with stream tests. BLR reckons there's five million barrels of recoverable oil from Acre and hopes to spring commercial production this year.