BLACK ROCK MINING LIMITED — Capital/Financing Update 2009

Feb 1, 2009

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Green Rock Energy Limited ABN 59 094 551 336

ASX

Announcement

Unit 6, 38 Colin Street West Perth WA 6005 Australia PO Box 1177 West Perth WA 6872 Australia Tel (+61 8) 9482 0482 Fax (+61 8) 9482 0499 Email info@greenrock.com.au Web www.greenrock.com.au

2 February 2009

Green Rock Energy increases its interest in Hungarian geothermal company to 50%

Green Rock Energy Limited (ASX : GRK) has acquired an additional one sixth interest in Central European Geothermal Energy Private Company Limited (CEGE) Zrt, the Hungarian geothermal company jointly owned by Green Rock Energy International Pty Ltd, a wholly owned subsidiary of Green Rock Energy Limited, and MOL Plc, the major Hungarian oil and gas company.

Green Rock and MOL have each acquired one half of Enex’s one third interest in CEGE Zrt at the nominal book value, resulting in both Green Rock and MOL having an equal 50 per cent interest. Enex has been disposing of its geothermal assets. Green Rock and MOL had pre-emptive rights over Enex's one-third interest in CEGE and as a result are fortunate and pleased to have increased their interest from 33 per cent to 50 per cent.

CEGE’s mission is to become a market leader in geothermal energy in Hungary through the exploration and development of geothermal power plants and the subsequent production and sale of geothermal sourced electricity into the Hungarian Market.

Hungary currently has no electricity production from geothermal energy but the region has significant geothermal potential. In addition to the many hot springs and relatively shallow geothermal wells, the region is known from petroleum drilling to have very favourable geology for natural geothermal water with temperatures ranging between 140°C and 200°C. These higher than normal temperatures, at reasonable depths between 3km to 4km, are due to the relative thinness of the earth’s crust in parts of Hungary compared to the World average. Hungary is also comprehensively covered by a high voltage electricity transmission network making for reasonable connection costs.

With significant but untapped geothermal potential, a comprehensive high voltage electricity transmission network and a fiscal regime supporting electricity production from geothermal energy, Hungary is one of the most attractive geothermal provinces in the world.

CEGE has identified several geothermal prospect areas and is actively reviewing all the available data including the evaluation of MOL’s extensive petroleum well data and seismic mapping to determine the precise location for the geothermal wells. Applications have been made for formal title.

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GREEN ROCK ENERGY LIMITED ABN 59 094 551 336

ASX Announcement

Green Rock Energy increases its interest in Hungarian geothermal company to 50% 2 February 2009

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About Green Rock Energy

Green Rock Energy is an Australian company focused on developing commercially sound renewable geothermal energy projects. The Company has projects in Australia and Europe and is a member of the Australian Geothermal Energy Association, the Australian Geothermal Energy Group and sponsor member of the International Energy Agency’s Geothermal Implementing Agreement.

Nigel Hodder Company Secretary

For more information:

Investors & Media Adrian Larking Managing Director W: +61 (0)8 9482 0401 M: +61 (0)417 927 767 E: alarking@greenrock.com.au

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GREEN ROCK ENERGY LIMITED ABN 59 094 551 336