Black Gold Gas & Oil Completes Acquisition of 74,000 Acres in Argentina.

FORT LAUDERDALE, Fla. -- Reissuing release to add ticker symbol for searching purposes.

The release reads:

BLACK GOLD GAS & OIL COMPLETES ACQUISITION OF 74,000 ACRES IN ARGENTINA

Black Gold Gas & Oil (Pink Sheets:BKGD) today announced that the company has completed the initial acquisition of 30,000 hectares or approximately 74,130 acres located in Province of Santiago del Estero in Argentina. The acquisition is titled under Black Gold's wholly owned subsidiary, Cristal Natural Resources, S.A. The Instituto Nacional de Tecnologia Agropecuaria, a governmental authority has certified the land with a value of more than $400 million, based on a number of factors including harvestable timber located on the property. This closing is the completion of the first phase of the acquisition that the company announced in December 2005.

Black Gold has also begun the necessary due diligence on the acquisition of the second phase of the property, which totals approximately 20,800 hectares or 51,400 acres. As noted in our December press release, Black Gold's contract is for a total of 130,000 hectares, which will be acquired one parcel at a time until the entire contract has been fulfilled.

The company is also pleased to announce that it has completed its financial statements for the fiscal year ending June 30, 2006. The statements will be available shortly on the company's web site: http://www.bkgd.com.

Forward Looking Statements: This press release may contain forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of the management of Black Gold Gas & Oil, Inc. only and are subject to a number of factors and uncertainties that could cause or contribute to such differences including, but not limited to, economic downturns affecting the operation of the Company, the need for adequate financing to achieve the new strategic plans and to implement and complete management's overall plans and objectives, future revenue, the costs associated with the harvesting of the timber and other matters that involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Actual results may differ materially from those contained in the forward-looking statements in this press release. Black Gold Gas & Oil, Inc. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.