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Black Rock Oil (WBN)

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Monday 01 March, 2004

Black Rock Oil

Re Joint Venture

Black Rock Oil & Gas PLC
01 March 2004


                            Black Rock Oil & Gas Plc


1 March 2004

The Directors of Black Rock Oil & Gas PLC ('Black Rock' or 'the Company') are
pleased to announce that Northern Petroleum PLC ('Northern'), the operator of
its Isle of Wight project has today signed a contract for the provision of all
engineering, procurement and project management with Aberdeen Drilling
Management Limited for the drilling of the Sandhills 2 well.

The Joint Venture will now apply for planning consents for the operations in the
very near future and, providing there are no significant delays in the granting
of those planning permissions, we would hope to construct a site and move the
rig onto the Isle of Wight drilling sites in the near future.

Black Rock now looks forward to drilling a potentially low risk appraisal well
as soon as possible.  The Company has a 5% free carried interest in the well
which will test a logged oil accumulation estimated by Northern, to have the
potential to contain 15.3 million barrels of recoverable oil.

Drilled in 1982, Sandhills 1, encountered oil in the Jurassic Great Oolite
reservoir rocks.  The well was not tested.

Re-examination of the Sandhills 1 well which contained oil shows, and with the
benefit of knowledge gained since it was drilled and utilising newer technical
capabilities has established logged oil reserves on the Isle of Wight.  Using a
20% recovery factor, these are calculated at 9.7 million barrels recoverable in
the probable category and increased to 15.3 million barrels if the possible
category of potential reserves is included.


For further information please contact:

Ivan Burgess
Black Rock Oil & Gas Plc
Tel:    +61 89 481 2407
Mob:    0423 881 507

David Steinepreis
     
Tel:    +61 89 481 2407

www.blackrockpetroleum.com.au


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