BLR Black Rock Oil

RNS Number:5148E
Black Rock Oil & Gas PLC
26 September 2007


For immediate release                                       26 September 2007

                            Black Rock Oil & Gas Plc
                        ("Black Rock" or "the Company")

                                Placing - Update


Further to the announcement made on 25 September 2007 regarding the conditional
placing (the "Placing"), Black Rock announces that the Directors have agreed to
subscribe for cash the following amounts pursuant to the Placing:

        Current holding  New Ordinary     Holding of Ordinary    Percentage of
        of Ordinary      Shares           Shares following       enlarged share
        Shares           subscribed for   Placing                capital

Tony Baldry     20,000           52,222               72,222              0.22

Dr. John Cubitt 35,261          208,888              244,149              0.76

Peter Kitson    30,570          183,333              213,903              0.67


The Company will not proceed with the proposed bonus payments to the Directors
as detailed in the announcement dated 25 September 2007. Accordingly, after
taking account of the Directors' subscriptions detailed above, the Placing will
now comprise 11,129,167 new ordinary shares of 1p each ("Ordinary Shares") at a
price of 18p per Ordinary Share (the "Issue Price") to raise #2,003,250. 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.


The 11,129,167 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 32,160,004
Ordinary Shares. 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
--------------------------------


ENDS

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

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