BLR Black Rock Oil

RNS Number:3219P
Black Rock Oil & Gas PLC
04 March 2008



For immediate release                              4 March 2008


                            Black Rock Oil & Gas PLC

                        ("Black Rock" or the "Company")

                        Completion of Alhucema financing


Further to the announcement on 20 February 2008, The Board of Black Rock Oil &
Gas PLC ("Black Rock") (stock code: BLR), the AIM-traded oil and gas exploration
and production company, is pleased to announce the completion of the
arrangements entered into with Prospero Hydrocarbons Inc ("Prospero"), a private
Canadian oil exploration and development company with operations in Colombia, in
respect of the Company's interests in the Alhucema E&P Contract in the Middle
Magdalena Valley of Colombia.


Black Rock has assigned its interest in the Alhucema E&P Contract to its
Barbados-based subsidiary, Alhucema Resource Corp.. In consideration for the
cancellation of the Alhucema Bridge Note (pursuant to which Prospero provided an
initial bridge loan of US$1,439,015 to Alhucema Resource) and the cancellation
of the Alhucema Bridge Subscription (pursuant to which Prospero was entitled to
subscribe �734,030 for new ordinary shares of 1p each in the capital of the
Company), Prospero has been issued shares representing 49 per cent. of the stock
of Alhucema Resource Corp.. Dr John Cubitt, Managing Director of Black Rock
commented:


"We are delighted to have concluded our arrangements with Prospero in this
regard and look forward to working successfully with them."


Qualified Person


Dr John Cubitt (a Director of the Company) has been involved in the oil and gas
production industry for more than 28 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.


For further information, please contact:

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

Beaumont Cornish                              0207 628 3396
Michael Cornish

Hanson Westhouse Limited                      0207 601 6100
Tim Feather

Aquila Financial Limited                      0207 202 2601
Peter Reilly
---------------------------                   -------------------------




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

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