Issue of Equity

RNS Number:1572X
Black Rock Oil & Gas PLC
12 June 2002



Black Rock Oil & Gas PLC (the "Company") is pleased to announce that it has
today placed 7,000,000 ordinary shares of 0.05p par value each in the Company ("
New Ordinary Shares"), to be issued at 1.25p per ordinary share, to raise in
total an amount of £87,500. In addition the Company will attach one free warrant
to each New Ordinary Share to subscribe for one New Ordinary Share at 1p up to 1
May 2004.

The plans to raise this interim financing were announced by the Company on 1 May
2002, and the proceeds will be applied in meeting the Company's working capital
requirements ahead of the planned Australian dual listing and placing.

In addition the Company has also issued 1,250,000 ordinary shares of 0.05p par
value each in the Company to John Tarrant at an issue price of 1.5p each, in
lieu of amounts due under his service contract with the Company.

Application has been made for these ordinary shares to be admitted to trading on
AIM and it is expected that admission will become effective and that trading
will commence on AIM on 18 June 2002.


David Steinepreis
Chairman


For further information contact:

David Steinepreis, Chairman, Perth, W. Australia
Phone [phone]                     email:  [e-mail]


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