BLACK ROCK MINING LIMITED - Capital/Financing Update 2012

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23 August 2012

ASX Announcement

NEW STANDARD BEGINS AIRBORNE GRAVITY SURVEY IN THE LAUREL PROJECT AREA, SEVEN LAKES SPA and EP 417 (ASX: NSE)

HIGHLIGHTS

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Project-wide regional airborne gravity survey commenced
Survey will help define the fairway with potential for future gas and oil discoveries in the emerging Laurel basin-centred gas play
Completes work commitments in both areas

New Standard Energy Ltd ( New Standard ) is pleased to advise that an Airborne Gravity Survey has commenced over the Seven Lakes SPA and EP 417 (the Laurel Project) in the Canning Basin. The survey is expected to take approximately 3 weeks, with initial results available within 40 days of completion.

New Standard is operator of both blocks and holds a 60% interest in the Seven Lakes SPA (STP-SPA0017) and a 50% interest in EP 417. Partners are Buru in EP 417 (35%), and Green Rock (Seven Lakes SPA 40%, and EP 417 15%).

The blocks are located in the south eastern Fitzroy Trough of the Canning Basin, which has strong geological similarities to Buru’s recent discoveries in the Fitzroy Trough within the Laurel Formation at Valhalla, Paradise and Yulleroo (Figure 1). Potential for oil discoveries similar to the Ungani Field also exist given the positive oil indications in nearby wells.

The gravity survey will acquire approximately 3,695 line kilometres of data, providing block-wide coverage over both the Seven Lakes SPA and EP 417. The results will contribute valuable data that will be analysed together with the available seismic and well information over the area, and will be used to help define the extent of the prospective basin-centred plays in the Laurel Formation. This will assist the selection of blocks within Seven Lakes SPA for conversion to a full Exploration Permit (EP). This survey exceeds the minimum Work Program commitment for the SPA.

The survey will also improve the Joint Venture’s understanding of the structure and stratigraphy of the EP 417 area that will be incorporated into the assessment of the results of Lawford-1 well deepening undertaken by the Joint Venture in 2011 and help guide the future exploration program in the area. The survey and associated technical studies will fulfil the 2012 and 2013 Work Program commitments for EP 417.

New Standard expects to issue the next update on completion of the survey.

-ENDS-

For further information, please contact:

Sam Willis

Managing Director

Ph: + 61 8 9481 7477 email: [email protected]

Cameron Morse FTI Consulting Ph: + 61 8 9485 8888 email: [email protected]

New Standard Energy Ltd.  |  ACN 119 323 385
Level 3, 33 Richardson St. West Perth WA 6005  |  PO Box 1542. West Perth WA 6872
T: + 61 8 9481 7477  |  F: +61 8 9486 7670  |www.newstandard.com.au

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