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BLR Black Rock Oil

1.125
0.00 (0.00%)
16 Jul 2024 - Closed
Delayed by 15 minutes
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

Arce Oil Drilling

26/06/2006 3:38pm

UK Regulatory


RNS Number:1674F
Black Rock Oil & Gas PLC
26 June 2006


For immediate release                                            26 June 2006


                            Black Rock Oil & Gas PLC

                        ("Black Rock" or the "Company")


                Drilling completed at Arce Oil Field in Colombia

                           Testing about to commence


Black Rock Oil & Gas PLC is pleased to announce that drilling of Arce 4 has now
been drilled to its total depth of 3,073 feet and this appraisal well is being
prepared for testing. Hydrocarbon shows have been observed in the well over a
300 foot interval at the base of the well with significant levels recorded in
one 50 foot zone.


While these results provide a preliminary update on progress and no comment can
be made on the hydrocarbon column until the well has been tested, information
obtained so far is consistent with expectations. Results of the testing should
be known in approximately 10 days time. It is expected that the Steam plant will
be on location at about the time initial testing of the Arce well has been
completed


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.


As set out in the Company's Annual Report and Accounts for the year ended 30
June 2005, the Company anticipates that the Arce Oil Field has estimated
recoverable reserves in excess of 5 million barrels, of which the Company has a
50% equity, and 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
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