BLR Black Rock Oil

RNS Number:0667X
Black Rock Oil & Gas PLC
23 May 2007



FOR IMMEDIATE RELEASE                                                22 May 2007


                            Black Rock Oil & Gas PLC

                        ("Black Rock" or the "Company")

                                     Update


Black Rock Oil & Gas PLC (stock code: BLR), the UK-based exploration company, is
currently providing the attached presentation to existing institutional
shareholders and other institutions. A full copy of the presentation is
available on the Company's website (www.blackrockoil.com) and the text of the
presentation is reproduced without amendment in Appendix 1 of this announcement.


Qualified Persons

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 and the attached presentation.







For further information, please contact:

Black Rock Oil & Gas plc                                            01189 001350
Dr John Cubitt, Managing Director                           www.blackrockoil.com
                                                          ----------------------
Peter Kitson, Finance Director

Beaumont Cornish                                                   0207 628 3396
Michael Cornish

Bankside Consultants
Sue Scott/Michael Padley                                           020 7367 8888






Appendix - Text of institutional presentation

All maps, photographs and other diagrams have been excluded

Slide 1 - Cover

Cover omitted

Slide 2 - Disclaimer


*  Black Rock Oil and Gas PLC hereby represents and warrants that it has the 
   right and authority to disclose the information contained herein, however, 
   the directors make no representations or warranties, express or implied, as 
   to the quality, accuracy and completeness of the information disclosed 
   herein, and the recipient and any reader of this information expressly 
   acknowledges the inherent risk or error in the accusation, processing and
   interpretation of geophysical and geological data. Black Rock Oil and Gas 
   PLC, its directors, their officers and employees shall have no liability 
   whatsoever with respect to the use or reliance upon information contained 
   herein.

*  This presentation may contain forward looking statements that are subject to 
   risk factors associated with oil and gas businesses. It is believed that the 
   expectations reflected in these statements are reasonable but they may be 
   affected by a variety of variables and changes in underlying assumptions 
   which could cause actual results or trends to differ materially, including 
   but not limited to: price fluctuations, actual demand, currency fluctuations, 
   drilling and production results, reserve estimates, loss of market, industry 
   competition, environmental risks, physical risks, legislative, fiscal and 
   regulatory developments, economic and financial market conditions in various 
   countries and regions, political risks, project delay or advancement, 
   approvals and cost estimates


Slide 3 - Current capital structure


*  Symbol & Exchange BLR - AIM

*  Issued (basic) 1,051 million

*  Options & Warrants 43 million

*  Fully Diluted 1,094 million

*  Market Capitalisation (fully diluted) #8.0 million

*  Recent Price 0.73p

*  High - Low Share Price 2.07 - 0.55p

*  Cash (e) #550,000

*  Debt Nil


Source: VSA Resources


Slide 4 - Share price performance


Share price graph omitted



Slide 5 - Directors


Directors' photographs and summary CVs omitted





Slide 6 - Black Rock Oil & Gas plc


*  Main interests in the UK Southern North Sea, Colombia and Paraguay

*  Near production opportunities in Colombia and the Southern North Sea

*  Significant exploration upside in Colombia, UK and Paraguay



Slide 7 - Corporate Strategy


*  To focus on generating near term cash flow by:

-  acquiring production or previously non-commercial or undeveloped discoveries
-  targeting bypassed pay and acreage adjacent to existing producing fields

*  To balance low risk production with high quality exploration projects by:

-  acquiring exploration acreage in hydrocarbon provinces with proven potential
-  seeking significant equity interests to materially impact the company and 
   maximise financial flexibility


Slide 8 - Targets for 2007

*  Realise some of the potential the Colombian acreage has to transform Black 
   Rock into a significant independent

*  Drill and test Acacia Este, the directors believe this to be a low risk 
   50-100 mmbbl exploration prospect in Colombia*

*  To complete the steam injection test of the Arce Field in Colombia and submit 
   a development plan for production in 2008.

*  To have an active drilling programme and to book net reserves of 2.5-10 
   million barrels of oil equivalent from successful development of the Arce Oil 
   Field and the Monterey Gas Field*

*  To complete a valuation of our assets by a competent third party

*  To diversify the portfolio of E&P assets in Europe and the Americas


*No formal resource nor reserve has yet been prepared under any of the accepted
standards and that any figures quoted are sourced from the field operator and
have not been independently verified by Black Rock Oil and Gas Plc


Slide 9 - Colombia


*  Arce Field - near production

*  Heavy oil field steam injection testing

*  Drilling of what the Directors believe to be the low-risk Acacia Este 
   exploration well. 50-100 mmbbl potential.*

*  Arce Field commercialisation and development plan to be submitted

*  1 obligation well on Alhucema


* No formal resource nor reserve has yet been prepared under any of the accepted
standards and that any figures quoted are sourced from the field operator and
have not been independently verified by Black Rock Oil and Gas Plc


Slide 10 -Colombia - Arce Oil Field


*  Discovered 1984, heavy oil at depths of around 3000 feet

*  4 wells drilled, 30 feet net pay

*  Arce 3 & 4 tested 30 bopd

*  Long term steam injection testing started in Q2 2007

*  Increase in recovery of between 3 and 5 times could be expected


Slide 11 - Colombia - Arce Oil Field


*  Operator estimated gross 15-20 mmbo recoverable *

*  Commerciality could be declared in Q3 2007

*  Peak production from Arce could reach >3,000 bopd after 3 years*

*  30-60 wells may be required

*  Ecopetrol can back in for 50% of the field


* No formal resource nor reserve has yet been prepared under any of the accepted
standards and that any figures quoted are sourced from the field operator and
have not been independently verified by Black Rock Oil and Gas Plc


Slide 12 - Arce - steam injection plant


Photograph omitted


Slide 13 - Arce - steam injection plant


Photograph omitted


Slide 14 - Arce - oil gathering station


Photograph omitted


Slide 15 - Arce - 2 & 4 wells


Photograph omitted


Slide 16 - Arce - crude oil 13degrees API


Photograph omitted



Slide 17 - Colombia - Baul Oil Field


*  Shallow heavy oil, 100' net pay

*  Baul 3 produced 16,610 barrels of oil from a 14' sand in 1960-61

*  Operator estimated 2-3 mmbo recoverable of which 1mmbo is contained in 14' 
   sand*

*  Testing in 2008


* No formal resource nor reserve has yet been prepared under any of the accepted
standards and that any figures quoted are sourced from the field operator and
have not been independently verified by Black Rock Oil and Gas Plc


Slide 18 - Colombia - Acacia Este


*  Acacia Este exploration well to be drilled in Q2 2007

*  40% chance of success

*  Large structure with operator estimated target 50-100 mmbbls recoverable 
   heavy oil*

*  Shallow prospect at

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