CND - Condor Energy

[BESBS Player]

Re: BKP - Baraka Petroleum

G'day BKPers.

I'm not sure if BKP will dip further - it is possible as we are still in early January and drilling won't likely occur in BKP's prospect until March. Given the recent run, it would seem strange for traders not to take some healthy profits.

That said, as a Buy Early Sell Before Spud (BESBS) player, I'm happy to wait until I sell when drilling commences. At that stage, I'll sell a fair chunk but also keep some as the likelihood of an early 'oil show' (remember that this does not mean it is commercial!!!) is better than usual given the horizontal drill. Add this to the potential size of the target (some 4.2 billion barrels) and the SP could rocket quickly on this event.

So, I'm guessing that we will see some SP fluctaution in the next few weeks but providing that drilling commences as scheduled, the carrot at the end of the road will be worth waiting for

Good luck to all holders.


Holding BKP at .003c

 

[againsthegrain]

Re: BKP - Baraka Petroleum

From experience on the spec buys on the home stretch before spud there is a set of runs and retraces stock. So far I would only count 1 run (saw much bigger ones same week on similar spec stocks 200% - 300%) and a retrace so im holding my whole stash in expectation of next week and hopefully another better run. Depending on how high it runs I might do just as you have, sell a portion then hold longer with the other. So far last week I have been very lucky to successfully sell up a few times and buy down so im not testing my luck anymore until some good gains. Personally don't think it will dip anymore, some profits were taken and those positions filled with new eager players, but thats my opinion.

 

[Liar's Poker]

Re: BKP - Baraka Petroleum

G'day BKPers.
That said, as a Buy Early Sell Before Spud (BESBS) player, I'm happy to wait until I sell when drilling commences. At that stage, I'll sell a fair chunk but also keep some as the likelihood of an early 'oil show' (remember that this does not mean it is commercial!!!) is better than usual given the horizontal drill. Add this to the potential size of the target (some 4.2 billion barrels) and the SP could rocket quickly on this event.

BESBS,

Will do doing much the same - probably sell a min of 50% BS (noting that I have already reduced holdings by 35% to cover initial outlay as well as take a small profit).

Should be an interesting 3 months for BKP and its holders.

-Liar-

 

[1nvstor]

Re: BKP - Baraka Petroleum

BESBS,

Will do doing much the same - probably sell a min of 50% BS (noting that I have already reduced holdings by 35% to cover initial outlay as well as take a small profit).

Should be an interesting 3 months for BKP and its holders.

-Liar-

How safe do you see 1.6cents as an entry point? Does it have any support and resistance?

 

[donteatme]

Re: BKP - Baraka Petroleum

Got in at 1.5c today

 

[1nvstor]

Re: BKP - Baraka Petroleum

Got in at 1.5c today

What gains do you want to see from 1.5? Have you a sell order in? Or any stops in place?

Kind Regards

 

[againsthegrain]

Re: BKP - Baraka Petroleum

not a bad entry at the present time and price

 

[poverty]

Re: BKP - Baraka Petroleum

Trying to get some more at 1.4, stock seems to have lost its momentum?

 

[donteatme]

Re: BKP - Baraka Petroleum

What gains do you want to see from 1.5? Have you a sell order in? Or any stops in place?

Kind Regards

I'm gonna hold it for the next few months and see where it takes me. I didn't put that much money into this stock.

 

[BESBS Player]

Re: BKP - Baraka Petroleum

G'day guys.

Just happy now to wait until we have (technicalities allowing) drilling in March.
Not surprised that the SP has re-traced from its recent hard run: .008 to .019c was never going to be sustainable when drilling is possibly one month away (probably 2 months away).

I'd think we are near a level where the SP might sit (about the 1.4c mark) for a little while - although we are bound to get the odd day of minor fluctuation given it is very liquid at present - before we get news about the rig/drill dates/drilling commencing elsewhere in the program, and suddenly get the next leg up.

Re. SP at spud. Depends upon all the mechanical/weather factors going well. If this is so, then I'd like to think .025c is very probable (given it went to .019c simply on the canadians raising extra funding). BKP has huge leverege to success, so .03c+ is possible.
Once drilling, if we get an announcement of an early oil show, then this could fly quickly. That said, it would need the early news or it will drift also.

Anyway, JMHO. I'm holding for spud.

Cheers,
BESBS

Holding BKP at .003c :

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Punters seemed to have thought that .015c is a bargain entry point for future drilling. SP touched .019c today although should ease a little as the day goes on.
Just confirms, in my own mind, that I'm happy to hold until spud.


Holding BKP at .003c

 

[againsthegrain]

Re: BKP - Baraka Petroleum

Im not sure if you guys are aware but sometime tonight, morning Canadian time petrofinder will be listing on the Canadian exchange at $2.00 This might very well have something to do with todays last minute spike, I am hoping for another strong opening tomorrow

 

[poverty]

Re: BKP - Baraka Petroleum

Wow, Between this and BTU i've had a very nice day

 

[Joules MM1]

Re: BKP - Baraka Petroleum

Im not sure if you guys are aware but sometime tonight, morning Canadian time petrofinder will be listing on the Canadian exchange at $2.00 This might very well have something to do with todays last minute spike, I am hoping for another strong opening tomorrow

hence the strong buyer at 15.46pm yesterday and all the numpties piled in behind.....the drill date, according to mister v is feb not march....more to come....

 

[STRAT]

Re: BKP - Baraka Petroleum

Im not sure if you guys are aware but sometime tonight, morning Canadian time petrofinder will be listing on the Canadian exchange at $2.00 This might very well have something to do with todays last minute spike, I am hoping for another strong opening tomorrow

Hi ATG
Got a link or a ticker for that?

 

[againsthegrain]

Re: BKP - Baraka Petroleum

PFC - http://finance.yahoo.com/news/IIROC-Resume-PetroFrontier-ccn-2385073564.html?x=0


Resumption Time 01 13, 2011 9:30 AM EDT

 

[STRAT]

Re: BKP - Baraka Petroleum

PFC - http://finance.yahoo.com/news/IIROC-Resume-PetroFrontier-ccn-2385073564.html?x=0


Resumption Time 01 13, 2011 9:30 AM EDT

Thanks for that Againstthegrain.

Much appreciated. :thankyou:

 

[againsthegrain]

Re: BKP - Baraka Petroleum

No worries

 

[donteatme]

Re: BKP - Baraka Petroleum

Rising oil prices had a great effect on BKP 2.1c close!

I expect the oil price to continue to increase, so hopefully will BKP!

 

[suhm]

Re: BKP - Baraka Petroleum

hi was researching this stock. I was wondering how does it have 4billion Unrisked Prospective Recoverable Oil Resource (Billion of Barrels) 25% share that is a new term for me, anyone able to point out how this relates to 2p estimates of resources. There is obviously not that much oil down there given that would put this on par with something like Woodside in terms of resource given this has an approx 30m market cap.