CND - Condor Energy

Re: BKP - Baraka Petroleum

some nervous nellies selling today prior to drilling announcement tomorrow. fingers crossed that the well comes up with the good oil.

Re: BKP - Baraka Petroleum

saltyjones said:

some nervous nellies selling today prior to drilling announcement tomorrow. fingers crossed that the well comes up with the good oil.

Click to expand...

Probably a fizzer and better chance in the Taoudeni Basin.Further down the line looks good. :hide:

Re: BKP - Baraka Petroleum

Anyone holding? Have any insights?

Re: BKP - Baraka Petroleum

announcement tomorrow Quarterly Report and Annual Report Released hope its good.

Re: BKP - Baraka Petroleum

Here's a speccy thats flying under the radar and on the acquisition path

It already picked up some petroleum grounds in between CTP's huge NT holdings

It has 1765m shares on issue, is a re-cap of the old failed Baraka Petroleum

Its set up perfectly to be a liquid day traders favorite much more like LKO

Its looking for new projects has about $3m in cash

Re: BKP - Baraka Petroleum

YOUNG_TRADER said:

It has 1765m shares on issue, is a re-cap of the old failed Baraka Petroleum

Click to expand...

Yes the big dry bunger in Mauritania and then folded up in Colombia. I hope they got rid of that `talk it up` bald guy.

Re: BKP - Baraka Petroleum

Wysiwyg said:

Yes the big dry bunger in Mauritania and then folded up in Colombia. I hope they got rid of that `talk it up` bald guy.

Click to expand...

Dont know if any "bald guys" are still around :

But I think it has a fair chance of re-rating for the following reasons

1. Its nearology to CTP and the fact that CTP has moved up 100% is about to commence drilling and is capturing the markets attention

2. Its on the acquisition trail in the "oil and gas sector"

3. Nearly every spec stock under 1c has had its day in the sun delivering massive returns when they do move

Re: BKP - Baraka Petroleum

YOUNG_TRADER said:

Dont know if any "bald guys" are still around :

But I think it has a fair chance of re-rating for the following reasons

1. Its nearology to CTP and the fact that CTP has moved up 100% is about to commence drilling and is capturing the markets attention

2. Its on the acquisition trail in the "oil and gas sector"

3. Nearly every spec stock under 1c has had its day in the sun delivering massive returns when they do move

Click to expand...

Hi YT,

With a market cap of only $9 million and $3 million cash. BKP looks extremely interesting.
Apparently my understanding is that the company is currently assessing acquisitions that might even be outside the oil and gas area.
Its currently a cashed up shell and will be arning 75% in 2 permits in the Georgina Basin which is fast becoming an exciting area.
I'm so interested that I just bought 4.8 million at 0.5c.
Thanks for your research.
DYOR

Re: BKP - Baraka Petroleum

YOUNG_TRADER said:

Dont know if any "bald guys" are still around :

But I think it has a fair chance of re-rating for the following reasons

1. Its nearology to CTP and the fact that CTP has moved up 100% is about to commence drilling and is capturing the markets attention

2. Its on the acquisition trail in the "oil and gas sector"

3. Nearly every spec stock under 1c has had its day in the sun delivering massive returns when they do move

Click to expand...

Hi Young Trader,

As excitement continues to rise in relation to the potential for oil and gas in NT, BKP will most likely rise on this newfound interest. BKP is earning 75% of 2 permits in the Georgina Basin. With CTP having done well of late interest is increasing in other stocks with interests there.
Also, BKP, being relatively cashed up, is taking a serious look at several projects as we speak and that includes projects outside the gas and oil area, including coal (CSM?). Apparently there's interest from companies wanting to use BKP as a way of listing on the ASX.
They might even make an announcement about this over the next month or so.
BKP's market cap is only $9 million and when I last checked BKP had $2.68 million in cash. IMO as people wake up to the fact that it has significant exposure to the Gerogina Basin (NT) more traders are likely to get on board. With CTP likely to drill several areas in the NT over the next 6 months or so, attention will also switch to other companies with interests in the NT.
BKP is apparently excited about the variety of potentail acquisitions on offer (8 projects in total) . Lets hope for shareholders sake that they can choose one that will also excite the market.
Yes, every stock in this price range has had its day. Hence, of late, some of them have been rising for little or no reason IMO. BKP has a reasonable amount of cash, is earning 75% of 2 permits in the Georgina Basin (please also don't forget the nearology effect) and is seriously looking at a number of opportunities as we speak.
Bearing all this in mind, I don't think BKP will remain long under 1c.
DYOR

Re: BKP - Baraka Petroleum

greggy said:

I'm so interested that I just bought 4.8 million at 0.5c.

Click to expand...

1c = $48000. Helloooo It will be interesting to see how Baraka performs this time round. At worst could be a good BESBS play. At best they might find something.

Re: BKP - Baraka Petroleum

Wysiwyg said:

1c = $48000. Helloooo It will be interesting to see how Baraka performs this time round. At worst could be a good BESBS play. At best they might find something.

Click to expand...

Hi Wysiwyg,

After reading CTP's recent Good Oil Presentation (9 Sep 09), I've noticed that in one of CTP's Southern Georgina Basin permits (ATP912) alone that there's potential for 650 million barrels of oil and 50 TCF of gas. It will be interesting when we get to see details of how much oil and gas potential in BKP's 2 permits in the Georgina Basin in which they're earning 75% interests.
I'm a firm believer, liek Young Trader is, in the nearology effect.
Also, please don't forget that is on the lookout for new projects, has reasonable cash levels is debt free and has new directors. The old mob is gone.
DYOR

Re: BKP - Baraka Petroleum

woweeee what an open almost 100M volume and its only been 30minutes, I will laugh Greggy if an acquisition is on the way

By the way here's BKP's projects in relation to CTPs, as you can see size wise they are pretty decent

Re: BKP - Baraka Petroleum

Chart is looking good with massive volume this morning (post showing first 30 mins). Had a quick look at previous news and looks like capital raising done in July so nice to see that out of the way.

I took an entry this morning due to volume but a more conservative entry would be to wait till it breaks the .008 resistance .. which should then see a nice move back through the gap

Re: BKP - Baraka Petroleum

Is there some other news expected our from BKP shortly ?? results buys etc.. why is this getting so much interest today .. aside from broker coverage from YT ?!

Re: BKP - Baraka Petroleum

YOUNG_TRADER said:

woweeee what an open almost 100M volume and its only been 30minutes, I will laugh Greggy if an acquisition is on the way

By the way here's BKP's projects in relation to CTPs, as you can see size wise they are pretty decent

Click to expand...

As I wrote on Sunday, "I've noticed that in one of CTP's Southern Georgina Basin permits (ATP912) alone that there's potential for 650 million barrels of oil and 50 TCF of gas".
BKP's permits are close by. With over a quarter of BKP's market cap covered by cash, there's not much upside in BKP's current market cap for any good news. If CTP commences its drilling program soon, attention will also focus on those with permits nearby. Hence, the classic nearology effect will come into action. I wonder how much potential will be in the 2 permits in which BKP is farming into.
Today was a good day for BKP up 20% on massive volume of 116 million shares. This will in time become a daytraders favourite. Thanks Young Trader for your research.
DYOR

Re: BKP - Baraka Petroleum

adobee said:

Is there some other news expected our from BKP shortly ?? results buys etc.. why is this getting so much interest today .. aside from broker coverage from YT ?!

Click to expand...

Its more than YT's usual superb coverage. Much has already been said of BKP's permits that it is earning 75% in. They are near CTP's tenements.
Also, BKP are on the look out for acquisitions. IMO it might not be long before they announce something in this regard. Apparently there's been a number of projects on the table. BKP has no debt and when I last checked had around $2.6 million cash. Traders are doing their own research and looking for low priced stocks with potential.
Once CTP starts drilling in the NT the spotlight will also be on those with permits there.
BKP has a low market cap (now around $10 million). This stock is also a trader's dream, easy to get in and out.
I bought 4.8 million on Friday at 0.5c and intend to buy more as IMO this stock will not be under 1c for very long.
DYOR
DYOR

Re: BKP - Baraka Petroleum

YOUNG_TRADER said:

woweeee what an open almost 100M volume and its only been 30minutes, I will laugh Greggy if an acquisition is on the way

By the way here's BKP's projects in relation to CTPs, as you can see size wise they are pretty decent

Click to expand...

Hi Young Trader,

In response to enquiries from a number of people about the prospectivity of the Georgina Basin, I found the following information on CTP's website.
Please note that CTP's EPA 132 permit is right next door to BKP's (earning 75%) EPA 128.

The Georgina Basin EPA 132 Central, via its wholly owned subsidiary Merlin Energy Pty Ltd, has taken out a 120 block (10,000km²) permit application in the South-eastern Georgina Basin, regarded by as being the most prospective basin in the Northern Territory. The Southern Georgina Basin of 150,000 km² has the following attributes making it prospective for significant accumulations of petroleum:
(p) only 8 wells drilled, some of which had no pre-drilling seismic and none of which were
located on valid structures;
(q) 20 stratigraphic tests conducted to date;
(r) only 750 line km of modern seismic;
(s) abundant petroleum shows, especially in the Middle Cambrian;
(t) over 40 billion tonnes of petroleum has been estimated to have been produced and expelled from the Middle Cambrian from the Arthur Creek Formation where source rock
analysis has shown TOC values up to 16%;
(u) the Arthur Creek Formation exhibits fair secondary porosity in limestone units and porosity of 5-17% in the Steamboat Sandstone where drilled; the target horizons of which are anticipated to be terrestrial or near shore marine channel sands or delta lobes of good to excellent porosity and permeability; and
(v) oil shows to date in the Middle Cambrian have been mainly unaltered, mature, aromatic crudes of marine origin.
In EPA 132, Central is primarily targeting potential shallow channel sands and delta lobes of the Steamboat Sandstone member of the middle Cambrian Arthur Creek Formation at easy to drill relatively shallow depths of from 500 to 1,000m identified on neighbouring blocks from seismic. The channel sands arethought to be some 200m vertical thickness and up to 5km in width while the delta lobes may be of much greater volume. Clearly, such conceptual targets have multi-million barrel potential. Analogues of this sort of conceptual play type are to be found in the Jurassic Smackover Formation in the Oaks field in Louisiana. or in the Lena-Tunguska Province of Siberia.

Apparently, as just mentioned, there are numerous multi-million targets in the Georgina Basin. I wouldn't be surprised at all if a large oil company comes along and gives BKP a 20% free carried interest in both their permits in the Georgina Basin.

I have already mentioned noticed that in one of CTP's Southern Georgina Basin permits (ATP912) alone that there's potential for 650 million barrels of oil and 50 TCF of gas. BKP is close by.

Now for all those traders out there, maybe this will assist in understanding the excitement that is building here.

DYOR

Re: BKP - Baraka Petroleum

Hi I am a newbie to shares and have been watching this company and this thread a bar fly told me this group could go high! Put some money on it. So then I went and found this site and low and behold here it is being spoken about. My questions are how do i really read the charts that people have put into this forum and when do people expect it do "breakout" and what does that mean. I understand they have alot of money sitting aside for the right time so to speak but as this thread started in 2006 is it going to be a long time before there are some gains if i was to put some money into it? Any advice would be appreciated. Sorry if i have put this in the wrong place!! I is only new to the game. Cheers Knighty

Re: BKP - Baraka Petroleum

knighty said:

Hi I am a newbie to shares and have been watching this company and this thread a bar fly told me this group could go high! Put some money on it. So then I went and found this site and low and behold here it is being spoken about. My questions are how do i really read the charts that people have put into this forum and when do people expect it do "breakout" and what does that mean. I understand they have alot of money sitting aside for the right time so to speak but as this thread started in 2006 is it going to be a long time before there are some gains if i was to put some money into it? Any advice would be appreciated. Sorry if i have put this in the wrong place!! I is only new to the game. Cheers Knighty

Click to expand...

Firstly, you should read this thread: https://www.aussiestockforums.com/forums/showthread.php?t=14370

Secondly, dont believe "tips" and i'd advise not to BLINDLY put your money "on" a stock refer to this quote i love:

trading the stockmarket is a War. “You and them”. Every other investor is your competitor and the stockmarket is nothing more than people, people who are anonymous, people who are not like you, people who are under no moral obligation to care. The stockmarket is anyone and everyone and you are a target for them all.
In the stockmarket taking money off fools is expected, taking money off innocents is applauded and ruining the lives, retirements, school fees funds and futures of families is an accepted no recourse “casualty of war”.

Click to expand...

Thirdly, you might want to have a look at this http://www.trending123.com/patterns/index.html to start learning about how to read charts

Fourthly,

when do people expect it do "breakout"

Click to expand...

... my friend THAT is the million dollar question!

Re: BKP - Baraka Petroleum

Sweet Synergy said:

Chart is looking good with massive volume this morning (post showing first 30 mins). Had a quick look at previous news and looks like capital raising done in July so nice to see that out of the way.

I took an entry this morning due to volume but a more conservative entry would be to wait till it breaks the .008 resistance .. which should then see a nice move back through the gap

Click to expand...

Hi Sweet Synergy,

Nice chart there. I'm hoping that with some positive news that once above 0.8c that it will close the gap between 0.8c and 3c rather quickly.

Potential catalysts for this move:

1. Action on the NT oil and gas front. News that CTP is drilling there will increase investor/trader interest. IMO a NT oil and gas boom is in the offing. The Georgina Basin, accroding to the info posted on the CTP website is the most prospective basin in the NT. BKP is well paced here earning 75% in 2 permits in this basin.

2. An acquisiton viewed favourably by the market. Who knows what it will be. Speculation here but is it possible that NT Oil might even want to do a backdoor listing via BKP. NT Oil already retains a 25% interest in the 2 NT permits that its farmed out to BKP. It was only 3 odd years ago it tried to float.
DYOR