CND - Condor Energy

[Slipperz]

All aboard the BKP gravy-train!

Announcement is out. Rig set to move out, should be on 1st site (not the BKP drill) in a week's time and then we start the count-down. EP-127 (BKP's well) is drill number 2. Assuming that the weather is kind and we have a good run with the mechanics and technical aspects of the campaign, August will be the big month for BKP!

Holding main parcel at .003c
Holding trading parcel at .018c

If I had the time I'd be trading this stock. Plenty of volume and volatility over the past few weeks. Not in but will be interested to see how the drill proves up. GLTA holders!

 

[poverty]

Holding main parcel at .003c
Holding trading parcel at .018c

And are you selling before spud?

 

[Liar's Poker]

And are you selling before spud?

If he is true to his name he will be!

I wouldn't be surprised if holders reduced their exposure before spud, taking some nice profits and then holding a smaller free-carry parcel just in case they hit some black gold.

Looking forward to August.

-Liar-

 

[BESBS Player]

And are you selling before spud?

Hi Poverty,

BESBS Player means Buy Early Sell Before Spud, so I guess that basically states my modis operandi. Nonetheless, it is all about timing.
At this stage, assuming that everything goes well and the rig gets to spud EP 127 as expected, I'd definitely be waiting until the rig moves from the 1st drill to EP127.
It is gut feeling but I suspect that the final surge of trader money won't appear until they know that the rig has completed the 1st drill and is mechanically fine to go to the BKP well.
So, I'd be looking to sell the majority into the final pre-spud run. I'll hold a few back for the first few days. The drill should not be too long so I'll wait and see if we get any early hydro-carbon shows or positive announcements to sell into. Unless we get very positive news early on in the drill, I'll let the rest go.
It sounds boring but one never loses money taking a profit. Secondly, the odds (no matter what the PR/rampers) are against a find that matches hopes. Lastly, BKP will drop considerably if EP127 is a duster. If the SP manages to get to 3c, then I'd have a range of profits from 1000% to 60% - I'll be happy with that as it beats bank interest.

As I have done in the past (see MEO & MMR as examples), I'll be posting what I do on the day that I complete the action.

All the best with your investments, P.

Cheers,
BESBS

 

[BESBS Player]

Well, despite the roller-coaster ride in the last month, the BKP boys have been busier than the Greek Treasurer. Baldwin-1 is underway (not part of BKP, we have the next drill). Great to see that the rig is all working as planned to this point. As I see it, possible spud for BKP's well around early-middle September. With oil still high, assuming the rig/technicals all go okay and the wider market can manage to hold relative calm, I still see a final run for BKP.

True to my name (BESBS), I still hold 100% of my stock and intend to follow what I suggested to Poverty in my last post.

Cheers and 'hang in there' BKPers.

Holding main parcel at .003c
Holding trading parcel at .018c


BESBS Player

PS. Time to look around for the next Buy Early Sell Before Spud play

 

[Liar's Poker]

Interesting announcement regarding the potential listing of BKP on the Frankfurt Stock Exchange released this morning.

It is a pretty inconclusive announcement (only discussions at this stage), noting that they did mention the word capital raising. I think BKP like having an excuse to put out an announcement every once in a while to keep people interested.

To be honest, I'm not really sure what to think of this pursuit. Bit left field.

Thoughts?

-Liar-

 

[BESBS Player]

Sorry for the delay in posting. I've been away for a while, then busy selling (finished the current sales on Thurs/Friday) and buying (and managing the tax issues, always a joy at this time of year...)

When I last posted in Sept, the market didn't look quite as fragile as it was in early October. While I managed to sell my small trading holding in BKP at 1.9c while the SP stagnated for a week or so before spiralling downward (the 4% profit was hardly worth the effort), I have now sold off 80% of my main BKP holdings. Averaging the sales, I only managed .0165c. This was disappointing given the SP was 0.019c when I last posted.
On one hand, I should have sold some of these earlier but I wanted to wait as this slight delay meant that I managed to get the 50% CGT-free concession as I had them for over 12 months. With provisional tax, the drop in profit was more than compensated by this concession (if that makes sense??)

As I read BKP now, we won't hear about the EP-127 spud until it occurs (probably in 2 weeks). If we get through October, the market might improve although the issue of Greek debt will arise again in November. Anyway, I'll let 20% ride into the spud and hope that the day-traders front-up at spud.

Usually I would have let most of it ride at this point. Nonetheless, given the profit already gained and the market at this time (400+% profit with 50% of it CGT-free), I felt it best to follow my conservative nature and get set elsewhere in stocks that offer BESBS potential but with the following features:
1. Probable drilling in the next 4 months (or at least the market thinks so!)
2. Funding taken care of (or CR already done)
3. A SP that is within 10% or so of the acompany's annual low.
While there were others around, I've opted for BAS and CUE. I'll comment on those threads. I'm also checking out a couple of others. I am no expert in this game but have found that markets such as our are wonderful opportunities to make significant profits in the 4 month- 12 term if one gets set in the right stocks as many are at 'bargain-basement' prices.

Cheers,
BESBS

So far:

Holding 20% of main parcel at .003c
SOLD 80% of main parcel (bought at .003c) at .0165c ave. 400+% profit with 50% CGT free
SOLD trading parcel at .019c (4% profit)

 

[BESBS Player]

Today BKP announced that the rig is ready to go! This isnow the pointy end of the deal. Given theshale involved (provided that Greece and Europe hold up ok), I reckon thefollowing might be the pattern:[/size]

SP to hold and increase slightly (I can see 2c/2.2c maybe) asthe vertical drill starts to go down. IF they hit oil shows here(not likely as in any wildcat) , then whooshka – 2.5c+ simply on excitement. If not, then we should see a smallsell-off and then interest as the horizontal drilling commences. It is not outrageous to think that they might hit oil shows in horizontal drilling stage. If they ‘market’ this as a great discovery (they almostcertainly won’t have a clue how good it is without fraccing), then the SP willrise again (target SP dependent on earlier vertical drill). If nothing, then the SP will drop veryquickly. If, like GGP recently, oil is found above early expectations, then SP goes whooshka.


Remember all, this is a wildcat so the odds are not great (I rate commercial flows chances at 10% or less). However, the chances of untested 'oil shows' in the horizontal section are reasonable and emotion would drive the SP up in this case.


Hold on...the ride begins again.

So far:

Holding 20% of main parcel at .003c
SOLD 80% of main parcel (bought at .003c) at .0165c ave. 400+% profit with 50% CGT free
SOLD trading parcel at .019c (4% profit)

 

[Liar's Poker]

All,

Similar to BESBS, I thought I'd update everyone on my movements. Over the last month I have sold all shares in BKP at an average price of 1.78 cents. In retrospect, I could have achieved a better result by selling more at a higher SP at an earlier date. As I have been a holder for some years, CGT was not an issue.

Nonetheless, I'll take the 370% return in this market and leave happy.

Good luck to all holders waiting for results. Your balls are bigger than mine.

I might see you on the next one BESBS.

-Liar-

 

[boff]

This may well be it boys and girls. Trading halt. News out between now and next Tuesday. My balls are feeling particularly vulnerable right now.

 

[boff]

On second look may not be that major. The last bit of news (Nov. 11) told us to expect a drilling report today.

"Unless a material event occurs in the interim, Baraka expects to issue its next drilling update report approximately Friday of next week."

 

[poverty]

On second look may not be that major. The last bit of news (Nov. 11) told us to expect a drilling report today.

"Unless a material event occurs in the interim, Baraka expects to issue its next drilling update report approximately Friday of next week."

The trading halt announcement says it is 'regarding material events, results from a DST (Drill Stem Test) and update on the drilling program.

Fingers crossed, but I can't imagine it being all good news with the SP drifting down the way it has. Probably hydrocarbons detected, fraccing looks promising, but won't be fraccing until after the wet season (ie/ March).

 

[Joules MM1]

an awake price, an asleep thread.......a good sign

 

[BESBS Player]

So far:

Holding 20% of main parcel at .003c
SOLD 80% of main parcel (bought at .003c) at .0165c ave. 400+% profit with 50% CGT free
SOLD trading parcel at .019c (4% profit)

Not all asleep, Joules.

Watching and waiting quietly.
I have 20% of my original holding in the drawer at a purchase price of .003c. Just waiting for the drill bit in H2 2012. Nice place to be waiting at present.

 

[metal_loz]

I sold my original parcel for $0.017 (purchased at $0.008 at the end of 2009)
Currently holding a trading parcel purchased at 0.021

I think we should see another rise this week on the back of PFC's gain at close. It seems to be trending with PFC lately.

 

[Joules MM1]

(PFC) c'mon guys, youve bought a truck load more land how... about that drilling?

CALGARY, May 30, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is very pleased to announce that Ensign's Rig 918 is currently mobilizing to the MacIntyre-2 well site location in the northeastern corner of EP 127 in the Southern Georgina Basin, Northern Territory. It is expected that the Ensign drilling equipment will be onsite by early June 2012 and that the Southern Georgina Basin operational activities will resume during the week of June 4, 2012.

This first phase of the 2012 capital program will focus on the drilling of the horizontal leg at MacIntyre-2, which is expected to take approximately two weeks. Once the drilling is completed, PetroFrontier will have earned a 75% working interest and operatorship in EP 127.

After drilling MacIntyre-2H, the Ensign rig will re-locate approximately 300 km to the eastern border of EP 104 to drill a high angle pilot hole at the third location, Owen-3 in EP 104 (100% working interest) and if PetroFrontier considers conditions to be favorable, a subsequent horizontal section at that same location. Mobilization of Ensign Rig 918 to the Owen -3 well site is anticipated to take one week, with the expected drilling timeline for the vertical and horizontal sections at Owen-3H being approximately four weeks.

Subsequent to this drilling activity, the second phase of the 2012 capital program will commence with the mobilization of a coil tubing unit and service rig for the completion, fracturing and flow testing of Baldwin-2Hst1 (EP 103), MacIntyre-2H (EP 127) and Owen-3H (EP 104), in that order. Both the Baldwin-2Hst1 and the MacIntyre-2 wells encountered very encouraging hydrocarbon responses while they were being drilled in the latter part of 2011. This type of unconventional oil play requires the use of advanced horizontal drilling and completion techniques to be economic, and the use of proven North American technologies is expected to give PetroFrontier a good chance of establishing commercial production.

 

[Joules MM1]

07/06/12

The Ensign rig has arrived at the Macintyre-2 well site and is being prepared to kick off the horizontal leg in the Basal Arthur Creek “Hot Shale” for an initial 500 metres, up to 1000 metres dependant on the ease of drilling. The drilling is expected to take approximately two weeks. Once the drilling is completed, Petrofrontier will have earned a 75% working interest and operatorship in permits EP127 and EP128, whilst Baraka retains the remaining 25% working interest in each of the permits.

After drilling Macintyre-2H, the Ensign rig will relocate approximately 300 km to the eastern border of EP 104 to drill a high angle pilot hole at the third location, Owen-3 in EP 104 (PFC 100% working interest) and if Petrofrontier considers conditions to be favourable, a subsequent horizontal section at that same location. Mobilization of Ensign Rig to the Owen-3 well site is anticipated to take one week, with the expected drilling timeline for the vertical and horizontal sections at Owen-3H being approximately four weeks.

Subsequent to this drilling activity, the second phase of the 2012 capital program will
commence with the mobilization of a coil tubing unit and service rig for the completion, fracturing and flow testing of Baldwin-2Hst1 (EP 103), MacIntyre-2H (EP 127) and Owen-3H (EP 104), in that order. Both the Baldwin-2Hst1 and the MacIntyre-2 wells encountered very encouraging hydrocarbon responses while they were being drilled in the latter part of 2011. Relevant to the Macintyre-2 well, the logging results showed;

22 metres of true vertical depth (“TVD”) pay with porosities varying between 5-11%
Sweet Spot at 815m with peak log porosity of 12%
Hydrocarbon shows recorded throughout Basal Arthur Creek “Hot Shale” 2-3 times greater than Baldwin-2Hst1 Hydrocarbon shows of C1-C5 recorded in entire vertical sections, indicating vertical fractures throughout the zone
In addition to the gas readings (samples were effervescing), there was some evidence of oil on the samples (Comments by Paul Bennett, CEO of Petrofrontier )

Baraka retains an undivided 75% working interest in approximately 75km ² around the Elkedra-7 well. Previous drilling has indicated oil shows and this zone could be of significant value in the event of a discovery.

 

[Joules MM1]

slight shift in onus for ep 127 and 128

PetroFrontier Corp. announces earning in Exploration Permits 127 & 128 in Southern Georgina Basin, Australia

CALGARY, June 18, 2012 /CNW/ - (TSX-V: PFC) - PetroFrontier Corp. ("PetroFrontier") is pleased to announce that its wholly-owned subsidiary, PetroFrontier (Australia) Pty Ltd. has completed the earning of a 50% working interest in EP 127 and EP 128 (Northern Territory, Australia) pursuant to its previously announced farm-in agreement with Baraka Energy & Resources Limited (formerly Baraka Petroleum Limited). This earning will increase PetroFrontier's working interest in EP 127 and EP 128 to 75% from 25% in 7.9 million gross undeveloped exploratory acres (5.9 million net).

PetroFrontier is currently drilling the farm-in well (MacIntyre-2H) on EP 127, which has now exceeded a horizontal length of 501 metres, the minimum farm-in commitment. PetroFrontier intends to continue drilling to a total horizontal length of approximately 1,000 metres.

Unless a material event occurs in the interim, PetroFrontier expects to issue its next drilling update report once MacIntyre-2H has finished drilling and the completion assembly has been set. The rig will then mobilize to the Owen-3 well site.

About PetroFrontier Corp.

PetroFrontier is an international oil and gas company engaged in the exploration, acquisition and development of both conventional and unconventional onshore petroleum assets in Australia's Southern Georgina Basin. PetroFrontier's common shares are listed on the TSX Venture Exchange under the symbol "PFC". Founded in 2009, PetroFrontier is one of the first companies to undertake onshore exploration in the Southern Georgina Basin in Australia's Northern Territory. PetroFrontier's head office is in Calgary, Alberta and its operations office is in Adelaide, South Australia.

 

[BESBS Player]

Holding 20% of main parcel at .003c
SOLD 80% of main parcel (bought at .003c) at .0165c ave. 400+% profit with 50% CGT free
SOLD trading parcel at .019c (4% profit)

Finished. Was hoping for a late surge in the SP but the general market nervousness, tax-time selling and the offer of better BESBS plays has impacted upon BKP at the moment. While the current drill might turn out to be a huge success (and I do hope so for holders), I'll take my profit and go. Only had 20% of original parcel remaining but now out.
All the best to holders.

Time to get set elsewhere following the BESBS strategy.

SOLD final 20% of main parcel (bought at .003c) for .011c at 266% profit with 50% CGT free
SOLD 80% of main parcel (bought at .003c) at .0165c ave. 400+% profit with 50% CGT free
SOLD trading parcel at .019c (4% profit)

 

[Joules MM1]

jv partner is a busy outfit

Calgary, Alberta – June 20, 2012 (TSX-V: PFC) - PetroFrontier Corp.
(“PetroFrontier”) is pleased to announce that through its two wholly-owned subsidiaries
(PetroFrontier (Australia) Pty Ltd and Texalta (Australia) Pty Ltd), it has entered into a
binding farm-in agreement (the “Farm-in Agreement”) with Statoil Australia Oil and Gas
AS (“Statoil”), a wholly-owned subsidiary of Statoil ASA of Norway whereby Statoil will
farm into PetroFrontier’s four exploration permits and two exploration permit applications
in the Southern Georgina Basin, Northern Territory, Australia. The Farm-in Agreement is
subject to satisfaction of certain conditions precedent, including the approval of the
Foreign Investment Review Board of Australia (the “FIRB”).
Pursuant to the terms of the Farm-in Agreement, Statoil will have the option to earn up to
65% of PetroFrontier’s working interests in EP 103, EP 104, EP 127 and EP 128 (“EPs”)
and in EPA 213 and EPA 252 (“EPAs”) in exchange for exploration program related
payments and carried costs of up to US$210.0 million over three phases.