Black Rock Hits Oil with Acacia Este 2 in Colombia

On Jan. 14, 2008, Black Rock Oil & Gas Plc announced that testing on the Acacia Este 2 appraisal well in the Las Quinchas Association Contract in Colombia had been initiated by its joint venture operator, Kappa Resources Colombia Limited.

Acacia Este 2 was drilled 500 meters north of Acacia Este 1 to a total depth of 3,752 feet. Oil shows were encountered more than one hundred feet while drilling the target Tertiary-aged Lower Mugrosa Formation. Multiple zones are now being tested in Acacia Este 2 in order to assess the well's potential productivity.

Three intervals in the Lower Mugrosa were perforated in Acacia Este 2 and the swab testing and ongoing extended well test with a PCP pump have confirmed heavy oil production with a water cut less than 1%. Analysis of the oil indicates that it has a gravity of 14.9 API, which is similar to Acacia Este 1. Production rose to a maximum of 20 BOPD (barrels of oil per day) but currently the well is producing between 5 and 10 BOPD. Evaluation and testing of the well is ongoing.

Acacia Este 1 is currently pumping between 50 and 60 barrels of 14.9 API heavy oil per day under long-term production test. Additional storage facilities have been installed at the Acacia Este Field site.

The Operator is also currently preparing the Arrinconada well site on the Alhucema E&P Contract for drilling of the well in the next few months.

Dr John Cubitt, Managing Director of Black Rock Oil & Gas Plc, commented: "The results so far from the production test on Acacia Este-2 together with the continuing long term production test from Acacia Este-1 are positive for the field. The next important milestone for Acacia Este is the acquisition of the seismic to better understand the field ahead of selecting the drilling location for the Acacia Este-3 well."