LONDON (Thomson Financial) - Black Rock Oil & Gas Plc. said it is in talks
with "a number of parties" regarding additional financing, a merger proposal or
offer for the company or its assets by the board's end-August objective.
"As announced at the AGM held in April, the board has implemented
wide-ranging operational cost reductions to substantially reduce the additional
working capital still required by the company to finance its ongoing central
costs for the remainder of this year," the company said.
"Directors hope to conclude a satisfactory outcome within the stated time
scale so that the company has sufficient finance available for its ongoing
central costs beyond this date," the company said.
TFN.newsdesk@thomson.com
jro/am
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