Hi there. At the outset, i would advise you to go see a general surgeon
or a plastic surgeon immediately given its location on your face. Sebaceous cysts are notorious for being much larger under the surface of the skin than they appear from the outside. The black end you describe was most likely a punctum & the cheesy material is the content of the cyst wasll. By squeezing or handling it, it is possible you may have ruptured the sac & or secondary infection will have set in. For best results, the surgeon will have to make a small incision & attempt to excise the sebaceous cyst sac in toto to prevent any recurrences. Please start an antibiotic & anti-inflammatory agent in the interim to manage the swelling & secondary infection. Cheers & Good Luck!