The Alhucema license has an area of 65,700 hectares (162,000 acres) and lies immediately to the north of the Kappa-operated Las Quinchas license, in which Black Rock has a 50% interest.
The first year's work program on Alhucema involves the acquisition of new 2D seismic data and the reprocessing of existing data, evaluation of which will lead to the selection of locations for exploration drilling in subsequent years of the license. It would be expected that drilling within the License will commence in 2006.
The potential of the Alhucema area is believed to be similar to that already being pursued on the Las Quinchas license, with both light and heavy oil plays recognised at various stratigraphic levels.
Ivan Burgess, Managing Director of Black Rock Oil & Gas plc, commented:
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