Black Rock Spuds Acacia Este 2 in Colombia

On 28 December 2007 Black Rock Oil & Gas announced that the Acacia Este 2 appraisal well in the Las Quinchas Association Contract in Colombia had been spudded by its joint venture operator, Kappa Resources Colombia Limited ("Kappa") on 21 December 2007 and that drilling operations were underway.

Acacia Este 2 was drilled 500 metres north of Acacia Este 1 to a total depth of 3752 feet. Oil shows were encountered 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. These differences are not unusual with reservoir sand deposits formed in a fluvial environment and the significance of the differences between the well log responses will be assessed in the light of the test results. The apparent absence in Acacia Este 2 of the higher performing sands recorded in Acacia Este 1 may impact the flow rates recorded in the Acacia Este 2 test program.

Preparation for testing multiple zones in Acacia Este 2 has now commenced in order to assess the well's potential productivity. Results of the testing should be known within the next 20 days.

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."