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Acacia Este 2 appraisal well positive but complicated for Black Rock Oil & Gas

14 January 2008

Black Rock Oil & Gas has announced that its Acacia Este 2 appraisal well in Colombia had oil shows over more than one hundred feet whist drilling the target Tertiary-aged Lower Mugrosa Formation. The well reached basement at 3720 feet.

Preliminary interpretation of the logs run at total depth indicates the potential for oil in a number of zones. There are differences in the nature and thickness of the reservoir sands in Acacia Este 2 compared to Acacia Este 1 that make correlation between the wells more complex without further seismic data.

Preparation for testing multiple zones in Acacia Este 2 has now commenced in order to assess the well's potential productivity.

Dr John Cubitt, Managing Director of Black Rock Oil & Gas Plc, commented:

'The results of the drilling of the first Acacia Este appraisal well suggest that we have encountered heavy oil in a number of zones but we recognise that it is not straightforward to relate the well logs of Acacia Este 2 to those of the discovery well. Black Rock therefore considers Acacia Este to be a more complicated field than first anticipated last year which supports our earlier decision to undertake the acquisition of additional seismic data before the next appraisal well.'

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