Update on Acquisition of Black Marlin Energy Holdings Limited by Afren PLC

BLACK MARLIN ENERGY HOLDINGS LIMITED (the "Corporation" or "Black Marlin") (TSX
VENTURE:BLM) is pleased to announce that it has received updated reserve
disclosure ("Updated Assessments") from McDaniel & Associates Consultants Ltd.
("McDaniel") and Gaffney, Cline & Associates ("GCA"). McDaniel originally
prepared an assessment of the prospective resources of certain of Black Marlin's
properties in a report issued on September 28, 2009 with an effective date of
August 31, 2009 and GCA originally prepared an assessment of the prospective
resources of certain of Black Marlin's properties in a report issued on November
18, 2009 with an effective date of October 31, 2009 (collectively, the "Original
Assessments"). The reserve disclosure contained in the Updated Assessments is
substantially consistent with the disclosure in the Original Assessments.
Consequently, the Updated Assessments McDaniel and GCA with respect to the Black
Marlin properties have not changed in any material respect from the Original
Assessments.


The Corporation has also approved the granting of options to acquire 1,000,000
ordinary shares of the Corporation ("Common Shares") to the recently appointed
Chief Financial Officer. The options have an exercise price of $0.50 per Common
Share and expire five years from the date of grant. The Corporation has
determined that exemptions from the various requirements of TSX Venture Exchange
Policy 5.9 are available for the granting of the options.


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the company's disclosure documents on the SEDAR website at
www.sedar.com. The company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.