BLACK ROCK MINING LIMITED — Capital/Financing Update 2012

Oct 15, 2012

ASX Announcement

Company Announcements Office Australian Securities Exchange

By e-lodgement

16 October 2012

(ASX Code GRK)

East Blina-1 Update: Expected to Spud Today

Please find attached an announcement by Oil Basins Limited ( ASX:OBL ), as Operator of the Backreef Area, providing an update on the East Blina-1 well for which all approvals have been received and is expected to spud later today.

Green Rock Energy Limited holds beneficial rights to a 20% joint venture interest in the Backreef Area, and has already paid to OBL the $2.5 million well cost.

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Nigel Hodder Company Secretary

Investors and Media T: +61 (0) 9482 0482 E: info@greenrock.com.au

About Green Rock Energy Limited

Listed on the ASX in 2005, Green Rock (GRK) is a geothermal and hydrocarbons explorer and developer with geothermal interests in Western Australia, South Australia and Hungary and hydrocarbons interests in Western Australia. Its key projects are:

• A 15% interest in EP417 in the Canning Basin with a right to earn up to 20% through a farm-in agreement with

• Attachments New Standard Energy (NSE) together with an Area of Mutual Interest Agreement for other potential opportunities including the Seven Lakes Special Prospecting Area awarded to NSE

• 1.The beneficial right to a 20% JV interest in the Backreef Area in the Canning Basin operated by Oil Basins Summary of the Terms of the Heads of Agreement Limited (OBL)

• ABOUT OIL BASINS LIMITED (OBL)  An alliance with leading Australian renewable power developer Pacific Hydro for conventional geothermal power generation in GRK’s permits in the Mid West of WA and GRK’s and Pacific Hydro’s licences in the Great Artesian Basin in SA

• A joint venture with MOL in Hungary for geothermal power generation (GRK 50%)

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16 October 2012

ASX Markets Announcements Australian Stock Exchange Limited 10[th] Floor, 20 Bond Street Sydney NSW 2000

Dear Sirs

EAST BLINA-1 UPDATE

Oil Basins Limited (ASX codes OBL, OBLOB ) ( OBL or the Company ) wishes to make the following ASX Announcement, so as to keep the market fully informed.

The Company, as designated Operator on behalf of the Backreef Area Joint Venture (OBL net 80% and Green Rock Energy Limited (ASX code GRK ) net 20% beneficial interests respectively), has since mid-August 2012 been advancing approvals for the drilling of the East Blina-1 petroleum exploration well within L6 in the Canning Basin ( Figure 1 ). As previously advised site clearing operations commenced on 6 October 2012 and rig-up with the Dynamic Drilling Rig #17 commenced on 14 October 2012.

The Company is pleased to advise it has overnight attained final approval from the Department of Mines and Petroleum ( DMP ) of the Environment Plan ( EP ) and with all DMP approvals and third-party consents now in-place (and operations preparation well advanced) the East Blina-1 well is anticipated to spud later today, 16 October 2012 (with no rig or equipment standby cost penalties incurred).

EAST BLINA-1 PETROLEUM EXPLORATION WELL

Interests: OBL 80%, GRK 20%

Operator: Oil Basins Limited Spud Date: 16 October 2012*

Total Depth: 1210m

Target: Basal Yellow Drum dolomites – Laurel oil play (gross reservoir column 27m)

Duration: Less than 11 days* from spud-date (circa 27 October 2012) – drill and logging and wireline testing/sampling and PVT (as appropriate)

• Anticipated subject to change

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Figure 1

Location of East Blina-1 within Production Licence L6

In accordance with ASX Listing Rules, during the conduct of East Blina-1 drilling operations, OBL on behalf of the Backreef Area Joint Venture will advise the market weekly (on Thursday’s), or as soon as possible after concluding an important well drilling operation and/or obtaining an important assessment or result.

Yours faithfully

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Neil Doyle, SPE Director & CEO