Drilling Report

RNS Number:9925L
Black Rock Oil & Gas PLC
13 November 2006


For immediate release

                                                                13 November 2006


                            Black Rock Oil & Gas plc

                        ("Black Rock" or the "Company")

                   Monterey Appraisal Well - Drilling Update


The Board of Black Rock (Stock Code: BLR), the UK-based oil company with
interests in Colombia and offshore UK, announces that drilling on the Monterey
appraisal well, 49/8c-4, in the Southern Gas Basin of the UK North Sea, has been
completed and a gross carboniferous reservoir interval of approximately 60
metres was identified in line with the Board's expectations. Testing on the well
has commenced and a further announcement will be made in due course.

.


For further information, please contact:

John Cubitt, Managing Director,                  Tel: [phone]
Black Rock Oil & Gas plc
                                                 www.blackrockoil.com
Roland Cornish, Chairman                         Tel: [phone]
Beaumont Cornish Limited

Michael Padley/Susan Scott                       Tel. [phone]
Bankside Consultants


Editors' Notes:

Black Rock has holdings in the North Sea, Celtic Sea and Colombia. In the North
Sea, Black Rock has a 15% interest in Blocks 49/8c and 49/9d, operated by
Wintershall Noordzee. The Monterey Gas Field is located in Block 49/8c and was
estimated by Carrizo (based on analysis then provided by the field operator,
Wintershall Noordzee) to contain 165 billion cubic feet of gas reserves. The 49/
8c-4 well is designed to appraise the commerciality of the field although no
formal resource or reserve has yet been prepared under any of the accepted
standards such as the SPE or CIM.


Discovered in 1989, the field is located approximately 15 kilometres west of the
Windermere gas platform and south of the Schooner and Ketch gas fields. The
water depth in this location is about 35 metres. As previously announced,
funding for up to US$4.274 million (approximately #2.4 million) in respect of
the Monterey 49/8c-4 has been provided by Gemini Oil & Gas Fund II, L.P.
("Gemini") without recourse in return for an entitlement for Gemini to receive
interest and principal repayments based on Black Rock's share of future revenues
from the Monterey Gas Field. Gemini will therefore receive no repayment of the
funds provided until the Monterey Field is taken into production with the
Company's cash flow position being further hedged by the Gemini payments being
capped at 33% of Black Rock's gross revenue less its share of operating costs in
any month. This deal eliminated the need for the Company to raise equity to fund
the drilling of the Monterey well and therefore does not dilute shareholders
interest in the Company.


Qualified Person

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


ENDS




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

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