We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Black Rock Oil | LSE:BLR | London | Ordinary Share | GB00B1YW2916 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1514E Black Rock Oil & Gas PLC 07 June 2006 For immediate release 7th June 2006 Black Rock Oil & Gas PLC ("Black Rock" or the "Company") Drilling commenced at Arce Oil Field in Colombia The Board of Black Rock Oil is pleased to announce that the drilling of the Acre 4 development well has commenced by its joint venture partner, Kappa Resources Colombia Limited ("Kappa"). The rig arrived on site last week and the Arce 4 well has now been spudded. Arce 4 is expected to take 15-20 days to drill, test and complete. Subsequently the drill rig will be moved to Arce 2 where the gravel pack will be replaced. In addition, the Company confirms that the steam generator is expected on site at the Arce field by early July and that preparation is being made for the steam testing programme to commence. Steam injection and production is a proven technique used in Colombia to increase oil flow by lowering the oil viscosity and is being use for production in adjacent fields. As set out in the Company's Annual Report and Accounts for the year ended 30 June 2005, the Arce field has estimated recoverable reserves in excess of 5 million barrels of which the Company has a 50% equity. Testing is also scheduled on the Baul field within the licence area in the coming months. The Baul well was previously on commercial production but shut-in in 1961 due to the then prevailing low oil price. If the well is in good condition, it will be tested with a view to potentially declaring commerciality during 2006. Ivan Burgess, Managing Director of Black Rock Oil & Gas plc, commented: "Our aim remains to book reserves in excess of 2.5 million barrels and to generate cashflow in the second half of 2006. We are optimistic that the Arce field will be in commercial production later this year. "The spudding of Arce-4 represents the first stage of our development, appraisal and exploration programme in 2006 and the Arce steam testing project should start to generate cash flow for the Company later this year." For further information, please contact: Black Rock Oil & Gas plc Ivan Burgess, Managing Director Tel: 020 7240 3953 Mobile: 07917 185129 www.blackrockoil.com Beaumont Cornish Limited Roland Cornish, Chairman Tel: 020 7628 3396 Bankside Consultants Michael Padley/Susan Scott Tel: 020 7367 8888 Editors' Note The fields in Colombia are held in conjunction with a joint venture partner, Kappa Resources Colombia Limited ("Kappa"). As previously announced in April 2005, the Company acquired a 50 per cent. non-operated equity interest from Kappa in the 249,000 acre Las Quinchas Association Contract located in the prolific Middle Magdalena Valley of Colombia. The Company anticipates that the Arce Oil Field, estimated to contain gross recoverable oil reserves of 5 million barrels, could be in commercial production during 2006. Should these operations prove successful, further production wells will be drilled into the field to increase the daily production rate. Qualified Person and other matters Dr John Cubitt (a Director of the Company) has been involved in the oil and gas production 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 in this regulatory announcement relating to the Company's interests in Colombia. ENDS This information is provided by RNS The company news service from the London Stock Exchange END DRLGGGGVVVKGVZM_SN_RNS1514E_SU_RNSTEST_XX_070035.2155_RZ__RT_R.xRoute.001 ~
1 Year Black Rock Chart |
1 Month Black Rock Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions