BLR Black Rock Oil

RNS Number:4444E
Black Rock Oil & Gas PLC
25 September 2007


For immediate release


                                                               25 September 2007


                            Black Rock Oil & Gas Plc

                        ("Black Rock" or "the Company")

                                    Placing


Black Rock (stock code: BLR), the UK-based exploration company, announces that
through its broker, Hanson Westhouse Limited, the Company has conditionally
placed 11,629,167 new ordinary shares of 1p each ("Ordinary Shares") at a price
of 18p per Ordinary Share (the "Issue Price") to raise #2,093,250. The Company
intends to use the proceeds of the placing to provide additional working capital
and in particular, to drill an appraisal well on the Acacia Este discovery in
Colombia, announced earlier in July this year and an exploration well on the
Juanes prospect on the Alhucema E&P contract area, also in Colombia.


Today Dr. John Cubitt, said:


"The Acacia Este discovery was a highly significant event for the Company and
this placing will allow us to appraise the discovery with a further well and
drill the Juanes exploration well on the Alhucema E&P contract area. Subject to
rig availability we hope to see Acacia Este No 2 well drilled in 4Q 2007 and
Juanes spudded as soon as possible thereafter."


As part of the placing, Tony Baldry, Non Executive Chairman, Dr. John Cubitt,
Managing Director and Peter Kitson, Finance Director have each agreed to
subscribe in respect of their annual bonus of #56,400 for 313,333 new ordinary
shares each (at the Issue Price). The remuneration of the directors is set by
the remuneration committee which is chaired by the independent non-executive
director, Chris Moore. Chris Moore, having consulted with the Company's
nominated adviser, considers that the remuneration paid by way of bonus to the
directors is fair and reasonable insofar as the Company's shareholders are
concerned. In addition, Peter Kitson subscribed for 4,444 new Ordinary Shares at
the Issue Price.


Following the Admission to trading of the new Ordinary Shares, the directors
will have the following interests in the share capital of the Company:

                        Ordinary Shares     Percentage of enlarged share capital
Tony Baldry                333,333                                        1.02%
Dr. John Cubitt            348,594                                        1.07%
Peter Kitson               348,347                                        1.07%


The 11,629,167 new Ordinary Shares to be issued pursuant to the placing will on
issue rank pari passu with the existing Ordinary Shares in issue and application
will be made for the new Ordinary Shares to be admitted to trading on AIM,
following which Black Rock will have a total issued share capital of 32,661,004
Ordinary Shares admitted to trading on AIM. Trading in the new Ordinary Shares
on AIM is expected to commence on 28 September 2007.





For further information, please contact:

--------------------                              --------------
Black Rock Oil & Gas Plc                          Tel: 01189 001350
Dr John Cubitt, Managing Director                 www.blackrockoil.com
Peter Kitson, Finance Director
Beaumont Cornish Limited                          Tel: 020 7628 3396
Michael Cornish
Aquila Financial Limited                          Tel: 020 7202 2600
Peter Reilly
Hanson Westhouse Limited                          Tel: 020 7601 6100
Tim Feather / Matthew Johnson
--------------------------------





Notes to Editors:


Black Rock Oil & Gas Plc, headquartered in the UK, is an AIM listed (AIM:BLR)
exploration and production company with licences in the Middle Magdalena Valley,
onshore Colombia and the Southern Gas Basin of the UK North Sea.


Colombia:

Black Rock has Joint Ventures with Kappa Resources Colombia Limited (Kappa) in
the Las Quinchas Association Contract and the Alhucema E&P Contract, both
situated in the prolific hydrocarbon basin of the Middle Magdalena Valley.


Operated by Kappa, and following completion of its farm-in obligations, Black
Rock's 50% interest in the Las Quinchas Association Contract is subject only to
approval of the transfer of the interest by the state oil company, Ecopetrol.


The Las Quinchas Block, contracted with Ecopetrol that has a 50% back-in right
on any project within the Association Contract area, contains the Arce and Baul
heavy oilfields and a number of exploration prospects including the Acacia Este
oil discovery, Chicala Este, La Linda, Bukhara and La Tolda. The Arce oilfield
contains heavy oil and is currently undergoing a steam injection test to
determine commerciality and development options.


The Alhucema Block, immediately to the North of the Las Quinchas Block contains
a number of prospects and leads and one well is planned on the Juanes prospect
later in 2007. A 2D seismic programme was undertaken in 2006.


United Kingdom:

Black Rock has a 15% interest in two adjacent license blocks (49/8c and 49/9d)
situated in the Southern Gas Basin of the North Sea. Block 49/8c contains the
Monterey Gas discovery and the Stinson and Winchester prospects.


The joint venture has applied to extend the license for another four years in
order to undertake studies with the aim of improving the marginal economics of
the Monterey discovery. A 50% relinquishment will be required if the license
extension is approved.


www.blackrockoil.com


ENDS




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

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