Black Marlin Energy Holdings Limited
TSX VENTURE : BLM

May 17, 2010 11:56 ET

Black Marlin Energy Holdings Limited Provides Corporate Update

DUBAI, UNITED ARAB EMIRATES--(Marketwire - May 17, 2010) - BLACK MARLIN ENERGY HOLDINGS LIMITED (the "Corporation") (TSX VENTURE:BLM) is pleased to announce that on Block 1101 in Madagascar, the Corporation has entered into a heads of agreement with its partner in the block, to acquire a further 40% of their 60% to the Corporation, in exchange for a carry on the first well on the block to be paid by the Corporation. The parties expect to enter into a binding farm-out agreement in connection with the heads of agreement.

Post farm out the Corporation will hold an 80% working interest in the block.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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