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

New research note/report on web site 17 nov

Thanks for that Smiler. Good report, let's hope that ARCE does not turn into a FARCE and makes an ARSE out of us!! I am very positive about this company.
kim

http://www.blackrockoilandgasplc.co.uk/investor/broker/171106_vsa.pdf

Thanks Smiler still reading through but good update will continue to hold long term.

I don't hold any of this company, primarily because I think heavy oils are seriously unsexy ...... that said, my unrequested (as usual!) advice would be to keep an eye on the 200 and 50 dmas, and sps reaction to them ......

Drop today due to fundraising for two other wells. See report on website.

I hope we won't see too much more dilution - anyone think BLR has a good chance of raising debt finance if Monterey turns out to be commercial?

Couldn't see any reason why it wouldn't Soul.

Explosive

In answer to your question some time ago, I sold half of GOO once they had double from my original stake. The remainder are now free, the other half is invested in BLR, split of risk, both will do well (I hope).

Still out of the country, back to sleep again zzzzzzzzzzzzzzzz.

pth

ptholden - Thanks for the reply, I sold all GOO for over a 50% profit, I believe these will fall again before climbing as investors will lose confidence waiting for news. Sounds abit like BLR but I think BLR is currently under rated and GOO over rated.

you may be (temporarily) right about the latter, but need a lot of convincing about the fomer

from oilbarrel.com today:
Great Expectations As Black Rock Oil & Gas Targets Move Into The Black
AIM-listed Black Rock Oil & Gas Plc is still a year or so away from first production, but as the company rides into 2007 there is plenty going on to lift the spirits of investors.

Most immediately, the results of the Monterey appraisal well test will gauge potential flow rates from the firms North Sea acreage. Here, Black Rock holds a 15 per cent stake in a UK Continental Shelf block operated by Wintershall, the oil division of BASF. Initial results identified a gross carboniferous reservoir interval of around 60 metres in line with expectations.

The Monterey gas field, discovered in 1989 and just 15 km west of the Windermere platform and south of the Schooner and Ketch gas fields, is estimated to contain 165 billion cubic feet of reserves.

We know weve got gas in the well, managing director John Cubitt told oilbarrel.com. The only question is will we be able to get flow rates that are commercially viable?

If things go well, the site could, in theory, see first gas production by the end of next year, or more likely early 2008. Black Rock is being funded in the drill programme by Gemini Oil & Gas Fund II, L.P., which will claw back its money through a slice of any production.

The schedule has slipped somewhat in Colombia, however, due to delays in getting equipment to the Arce oilfield where a steam injection project to up flow rates is underway. This is now scheduled for completion towards the end of the first quarter 2007.
After that, development plans need to be finalised and rubber stamped by the authorities before further work can get underway. Again, significant production from the field - first discovered over 20 years ago - is unlikely before 2008.

Black Rock holds a 50 per cent stake in the Las Quinchas block - home to the Arce heavy oil discovery with proved and probable reserves up to 10 million barrels - as well as the Alhucema block. But excitement is also building over a fresh two-well exploration programme in Colombia being lined up for early next year.

One of the wells, Acacia East in Las Quinchas, about 200 km northwest of Bogota, will target a significant prospect which Cubitt says has shown great promise in earlier seismic. Operator Kappa Energys links to rig suppliers through subsidiary firms also means that a repeat of the Arce delay is unlikely.

What the rig finds however could have a major impact on the firms future. According to a November 2006 research note from VSA Resources, Black Rock could add a net 30 million barrels of oil equivalent reserves to its portfolio over the next 12-18 months through various projects.

Whats more, with first revenues filtering in late next year, it reckons revenues could hit US$50 million in 2008, moving the company into the black from a net loss position.

Solid progress in the UK and Colombia will be critical for this to happen, and although the outcome of the exploration drive is uncertain, the Las Quinchas block is a proven hydrocarbons zone. Nearby oilfields Baul and Bukhara could also contribute to future production.

It is quite a transformation for a company that was just a small Australian-focused entity a mere few years ago. With a clear path mapped out on these two core international areas, Black Rock is now re-assessing its strategy again to widen its exposure.

With production just around the corner, Cubitt says it is time to think ahead and look around for some new opportunities. From a diversification risk viewpoint we feel we need to take on some new projects, he says. I would like to be able to put a couple of projects on the table in 2007."

"Black Rock Oil & Gas Plc is still a year or so away from first production ...... We know weve got gas in the well, managing director John Cubitt told oilbarrel.com. The only question is will we be able to get flow rates that are commercially viable? ...... Solid progress in the UK and Colombia will be critical ..... " ......... and so on and so on ....... IMO, while a minsuscule investment may make an interesting punt (could grow to something significant), anything more is taking a wild and blind leap of faith

Cynic, I still think that there's more certainty attached to BLR than many of the oilers with which I have flirted in recent months. You have to agree that the newsflow is positive, too.

It's going to require patience till the production comes on stream, but the future looks bright.

Ruthers, thanks for the post - Gemini funding will take care of Monterey development; I had forgotten that.

not necessarily untrue, but see no hurry to put cash in ...... lots and lots of time and an awful lot of things can happen in the interim, with the balance of probability (imo) being more likely to be negative

Black Rock Oil - Update on Colombia
RNS Number:4556M
Black Rock Oil & Gas PLC
21 November 2006


For immediate release

21 November 2006


Black Rock Oil & Gas PLC

('Black Rock' or the 'Company')

Update on Colombia


The Board of Black Rock announces that a dispute has arisen with the Company's
Colombian joint venture partner, Kappa Resources Colombia Limited ('Kappa').


In April 2005, the Company acquired through farm-in a 50 per cent. non-operated
equity interest from Kappa in the 249,000 acre Las Quinchas Association Contract
located in the Middle Magdalena Valley of Colombia and entered into a joint
operating agreement (the 'JOA') with Kappa. Subsequently in September 2005,
Black Rock also agreed to farm-in to the Alhucema Exploration & Production (E&P)
Contract.


As previously announced on 21 September 2006, the construction of the facilities
on the Arce Oil Field required for the agreed steam injection testing programme
had commenced. The long-term test was expected to be completed in approximately
6 months.


The Company also announced that Kappa had advised the Company that it expected
to start drilling a further 2 exploration wells, Acacia Este and Chicala Este,
in the Las Quinchas Block before the end of this calendar year. This has now
been delayed and Kappa has recently stated that rigs are being sought for the
first quarter of 2007.


Subsequently, the Company received a number of cash calls from Kappa for various
activities, only some of which had been fully approved and documented by Black
Rock. The Company paid US$1 million to Kappa in respect of the undisputed items
of expenditure. The Company subsequently challenged the validity of a number of
the remaining cash calls, which the Directors of the Company have been advised
had not been issued in accordance with the terms of the JOA. In particular, the
Company challenged those cash calls in respect of expenditure for operations
that are not expected to be carried out until 2007. Without notice Kappa Energy
Colombia Ltd then issued a default notice to the Company. The Company issued a
comprehensive rebuttal of the disputed cash calls and the validity of the
default notice.


The Company has commenced proceedings in Colombia to protect the Company's
Colombian assets and to prevent Kappa taking any further unilateral action which
might prejudice the Company's interests until such time as the disagreement over
the cash calls and works programme has been resolved between the Company and
Kappa in accordance with the JOA's agreed procedures.


Black Rock is working diligently with its advisors and intermediaries to resolve
this disagreement and has made a number of requests to meet with Kappa, although
to date, Kappa has not made any response to Black Rock's request to meet.


A further announcement will be made in due course.


For further information, please contact:

Black Rock Oil & Gas plc
John Cubitt, Managing Director Tel: 020 7240 3953

www.blackrockoil.com
----------------------

Beaumont Cornish Limited
Roland Cornish, Chairman Tel: 020 7628 3396

Bankside Consultants
Michael Padley/Susan Scott Tel: 020 7367 8888


ENDS

That's irritating - just when things seemed to be working out well, too!!


BLR Bid: 0.7p Offer: 1p Change: -0.55

Recovering slightly, though:

BLR Bid: 1p Offer: 1.1p Change: -0.35

interesting soul, !

I have to say I'd have been tempted to buy more at 1p, so maybe the MM's deliberately dropped the price that low to shake out a few panic sellers.

Am holding my breath for Monterey.