Deck sounds pretty fine, but you're kinda low on mana, and need more counters. You're runing a B/U deck with no spell counters, wich is pretty insane. Try adding stuff like Perplex. Dark ritual won't solve your problems, try the land from shadowmoor that can add two B/U mana in any combination you'd like. Some fetch lands would be great for acceleration Telepathy is not necessary with Ghastlord of Fulgure, chose one of them.
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Although this "works", you're pretty fragile. Memoricide, Extirpate, Sadistic Sacrament, Extract, Surgical Extraction, Wrath of God, Martial Coup, Day of Judgment, etc. All of these cards will result in a loss
Since you're going to split the deck in two, how about adding some extra control? Duress, Thoughtseize, Inquisition of Kozilek, Consuming Vapors, Consume the Meek, Doom Blade, Go For the Throat, Extirpate.
really cool concept, the only downsize is that your cards cost too much and 4 dark rituals aren't enough to sustain this deck. Consider some mana generating artifacts, such as the mana myrs, talismans, etc.