BLR Black Rock Oil

RNS Number:6855V
Black Rock Oil & Gas PLC
30 April 2007


FOR IMMEDIATE RELEASE                                        30 April 2007


                            Black Rock Oil & Gas PLC

                        ("Black Rock" or the "Company")

                       Boqueron Concession Farm-in Option


Black Rock Oil & Gas PLC (stock code: BLR), the UK-based exploration company,
announces that it has executed a farm-in option agreement with CDS Oil & Gas
Group plc ("CDS"), the AIM-listed oil and gas explorer (stock code: CDS.L)
whereby Black Rock has the option to farm-in down to and including the
Carboniferous on the 800,000 hectares Boqueron Concession granted to CDS located
in north-west Paraguay (the "Option"), which includes the Emilia oil prospect
("Emilia").

The Farm-in Agreement

Under the terms of the Option Black Rock has a 100 day period in which to
acquire a 20% interest in any hydrocarbons occurring down to and including the
Carboniferous formation. The total consideration payable by Black Rock if the
Option is exercised will, inter alia, fund 40% of the costs of a 2-D seismic
programme to be undertaken by CDS in 2007. Should Black Rock decide not to
exercise the Option, an abort fee of US$50,000 will be payable to CDS. CDS has
the right to terminate the Option in the event that there is a change in control
of CDS or in the event that a third party agrees to farm-in to the Boqueron
Concession for a percentage greater than 30% over the same target formation. The
total cash cost to Black Rock of the Option and its share of the proposed 2-D
seismic programme, should the option be exercised, is expected to be
approximately US$1,350,000.

The Boqueron Concession

As announced by CDS on 20 November 2006, CDS commissioned a study in September
2006 of the Emilia oil prospect from CAS International LLC (Collarini) of
Houston, Texas (the "CPR") to evaluate the extent of the Emilia target and its
resource potential. As set out in that announcement, the CPR estimates that the
mid-case resource potential in the 142 hectares area of the Emilia prospect is
27.2 million barrels of original oil in place, of which 6.4 million barrels are
thought to be recoverable.  There are several other Emilia analogs on the
Boqueron Concession. The key technical and financial assumptions of the report
for the 143 hectares Emilia Well area on the Boqueron Block is available in the
CDS announcement of 20 November 2006 which has been posted to the CDC website,
www.cdsogg.com.

CDS will be the operator of the Boqueron Concession.

Commenting on the Option, Dr. John Cubitt, Managing Director, said:

"Black Rock is excited about taking a potential 20% non-operated interest in the
Boqueron Concession in Paraguay as, following a detailed review by independent
technical consultants, we consider that there is a high chance of commercial
hydrocarbons occurring in the Emilia structure. This option agreement forms part
of our stated strategy of increasing our presence in selected Latin American
countries."

Qualified Persons

Dr John Cubitt (a Director of the Company) has been involved in the oil and gas
production industry for more than 26 years. Dr John Cubitt is a registered
Chartered Geologist (CGeol) and has a BSc and PhD in geology. He has compiled,
read and approved the technical disclosure as it relates to Black Rock in this
regulatory announcement.

The information regarding the Boqueron Concession is derived from the
announcement made by CDS today and which was reviewed for CDS by Steven L. Veal.
Mr Veal is a petroleum geologist with more than 26 years experience in the
petroleum and natural gas industries and is a member, and former Vice President
and Treasurer, of the American Association of Petroleum Geologists and a Fellow
of the Royal Geological Society, London.


For further information, please contact:

Black Rock Oil & Gas plc                        01189 001350
Dr John Cubitt, Managing Director               www.blackrockoil.com
                                                ----------------------
Peter Kitson, Finance Director

Beaumont Cornish                                0207 628 3396
Michael Cornish

Bankside Consultants
Sue Scott/Michael Padley                        020 7367 8888



ENDS



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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