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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:7685K Black Rock Oil & Gas PLC 28 December 2007 For immediate release 28 December 2007 Black Rock Oil & Gas PLC ("Black Rock" or the "Company") Drilling Update Acacia Este-2 Appraisal Well Spudded Black Rock Oil (stock code: BLR), the AIM-traded oil and gas exploration and production company, announces that the Acacia Este 2 appraisal well in the Las Quinchas Association Contract in the Middle Magdalena Valley of Colombia was spudded by its joint venture operator, Kappa Resources Colombia Limited ("Kappa") on December 21st 2007 and drilling operations are underway. The Directors expect the well to take up to 40 days to drill, test and complete. Acacia Este was announced as a discovery on the 18 July 2007 producing oil from several sand horizons in the Tertiary Mugrosa Formation. Testing subsequently recovered heavy oil to a maximum rate of 101 barrels per day with only 5 per cent. bottom sediment and water at standard conditions and low pump rates. Following re-completion, the well was put onto a production test, the results of which at this point are very encouraging. Our joint venture partner in Colombia, Kappa, intends over the next year to conduct a programme of appraisal well drilling and new seismic acquisition over the Acacia Este field to delineate the size and nature of this important discovery. Dr John Cubitt, Managing Director of Black Rock Oil & Gas plc, commented: "The spudding of Acacia Este 2 which is 0.5 kilometres from the Acacia Este discovery well represents the first step in the appraisal of the significant heavy oil discovery made earlier this year. We eagerly await the outcome of the well." 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 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 | +---------------------------------------------------------------------------+ |Aquila Financial Limited 0207 202 2601 | +------------------------------------------+--------------------------------+ |Peter Reilly | | +------------------------------------------+--------------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END DRLEALAPAFAXFFE
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