Black Rock Oil & Gas Raises Additional Capital through Share Placement

Black Rock (stock code: BLR) has placed 110,363,637 new ordinary shares of 0.5p each ("Ordinary Shares") at a placing price of 1.1p per Ordinary Share to raise £1,214,000 of additional working capital associated with appraisal activities in the Company's project areas.

The Company has also issued 2,474,818 new Ordinary Shares at a price of 1.1p per share in respect of fees due for technical consultancy services.

These additional Ordinary Shares will on issue rank pari passu with the existing Ordinary Shares in issue and application will be made for the new total of 112,838,455 Ordinary Shares to be admitted to trading on AIM, following which Black Rock will have a total issued share capital of 689,551,225 Ordinary Shares admitted to trading on AIM. Trading in the new Ordinary Shares on AIM is expected to commence on July 12, 2006.