CND - Condor Energy

[blanker]

Re: BKP - Baraka Petroleum

Thanks for everyones comments. Thought I would contribute with this item, you may have already seen: http://conferences.minerals.nt.gov.au/cabsproceedings/Final_papers/P04_Boreham_Ambrose.pdf

I entered this stock today.

 

[greggy]

Re: BKP - Baraka Petroleum

Thanks for everyones comments. Thought I would contribute with this item, you may have already seen: http://conferences.minerals.nt.gov.au/cabsproceedings/Final_papers/P04_Boreham_Ambrose.pdf

I entered this stock today.

Hi Blanker,

Welcome aboard. Its mentioned on the CTP website that the South-eastern Georgina Basin is regarded as being the most prospective basin in the Northern Territory.
CTP and BKP (of course) are extremely well placed to benefit from this.
DYOR

 

[swm79]

Re: BKP - Baraka Petroleum

starting to see a litle bit of movement in the price here... up from .005, then to .06 and now today at .007

MACD has pushed through 0 and we're starting to see a bit of divergence - as expected with suck a quick rise in a short time.

nice to see the line up of buyers at .005 and .006 - more than double todays volume (so far) in each of those - indicating support

 

[greggy]

Re: BKP - Baraka Petroleum

starting to see a litle bit of movement in the price here... up from .005, then to .06 and now today at .007

MACD has pushed through 0 and we're starting to see a bit of divergence - as expected with suck a quick rise in a short time.

nice to see the line up of buyers at .005 and .006 - more than double todays volume (so far) in each of those - indicating support

Red Sky is farming into CTP's tenements that are next to BKP's ground. Red Sky is farming into CTP's EPA 132 (where there's potential for hundreds of millions of barrels of oil) which adjoins BKP's EPA 128. Red Sky is also farming into ATP 912 (CTP's potential here is 650 MMbls of oil and 50 TCF) which is near BKP's EPA 127.
So todays CTP announcement has a lot of significance for BKP.
BKP has had numerous sales at 0.7c today and solid buying support at 0.6c.
Support increasing strongly together with a rising share price, last sale at 0.7c.
DYOR

 

[Bigukraine]

Re: BKP - Baraka Petroleum

heyyyyyy ! something going on here this am. Looks like string buying to me. approx 16 buy's at 200,000 or 250,000 over a 12min time span and not comming from the buyer's line up (still the same amount in line) could be a good sign cosidering mkt opened week !

 

[greggy]

Re: BKP - Baraka Petroleum

heyyyyyy ! something going on here this am. Looks like string buying to me. approx 16 buy's at 200,000 or 250,000 over a 12min time span and not comming from the buyer's line up (still the same amount in line) could be a good sign cosidering mkt opened week !

Good announcement today. The appointment of ISIS indicates that BKP is serious about moving forward with its 2 NT permits. Of particvular interest is that ISIS will be preparing a prospective resource assessment for each of the plays, leads and prospects identified within the permits. Should the estimates be high the sp should react accordingly.
Hence, BKP has recovered from its earlier lows today and is having a number of sales at 0.7c. Considering how much the market is down, a very impressive result.
If today had been a good day for the market BKP might have gone to at least 1c on this news.
DYOR

 

[Bigukraine]

Re: BKP - Baraka Petroleum

Good announcement today. The appointment of ISIS indicates that BKP is serious about moving forward with its 2 NT permits. Of particvular interest is that ISIS will be preparing a prospective resource assessment for each of the plays, leads and prospects identified within the permits. Should the estimates be high the sp should react accordingly.
Hence, BKP has recovered from its earlier lows today and is having a number of sales at 0.7c. Considering how much the market is down, a very impressive result.
If today had been a good day for the market BKP might have gone to at least 1c on this news.
DYOR

looking forward to the isis reports and if good we will see alot more improv. yet. True the market was flat but volumes were great came in 3rd overall today on resonable news. like you imo will only get better .:alcohol:

 

[greggy]

Re: BKP - Baraka Petroleum

looking forward to the isis reports and if good we will see alot more improv. yet. True the market was flat but volumes were great came in 3rd overall today on resonable news. like you imo will only get better .:alcohol:

Hi Bigukraine,

Another strong day for BKP on Friday with increasing volume. BKP started the week at 0.5c and moved up 40% during it on massive volume. Yesterday, the volume was roughly 13 times that of the Friday before when I bought my 4.8 million shares. BKP finished at 0.7c, its high for the week.

The beauty of BKP is its potential on 2 fronts:
1. Its 2 permits in the prospective Goergina Basin in NT. The Georgina Basin has potential for "hundreds of millions of barrels of oil" and multi TCFs of Gas.
It will be interesting to see what the ISIS consultantcy firm comes up with in terms of prospective (potential) resources on BKP's permits.

2. The prospect of a new acquisition which might excite the market.

I would also like to note the fact that BKP seems to have a good PR machine as evidenced by yesterday's announcement. I wish some other companies would do more to keep their shareholders fully informed.

As per Sweet Synergy's great chart, should BKP go above 0.8c in the near future, theres a gap to fill between 08.c and 3c. This stock is being momentum driven. An increasing number of traders are obviously starting to realise BKP's strong potential.
DYOR

 

[nomore4s]

Re: BKP - Baraka Petroleum

As per Sweet Synergy's great chart, should BKP go above 0.8c in the near future, theres a gap to fill between 08.c and 3c.

Hi Greggy,

Just a quick note on this. That gap isn't really a gap in the true sense due to the fact this stock didn't trade between April 08 and July 09 and is a re-cap.

While I agree that this stock might be due for a re-rating as per some of the reasons stated in this thread the technical reasons for the gap being filled are no longer valid.

 

[greggy]

Re: BKP - Baraka Petroleum

Hi Greggy,

Just a quick note on this. That gap isn't really a gap in the true sense due to the fact this stock didn't trade between April 08 and July 09 and is a re-cap.

While I agree that this stock might be due for a re-rating as per some of the reasons stated in this thread the technical reasons for the gap being filled are no longer valid.

I see where you're coming from, but just the same if this share were to go above 0.8c, theres considerable potential for a strong rally as one can construe from your message that it will be in uncharted territory, a bullish sign.
BKP, this week alone has gone up 40% on strong volume and finished the week at its weekly high. The fact that BKP held its ground yesterday is also a positive sign. A week ago BKP was dead quiet..Something potentially big might be happening here.
Good luck to all BKP holders and believers.
DYOR

 

[nomore4s]

Re: BKP - Baraka Petroleum

I see where you're coming from, but just the same if this share were to go above 0.8c, theres considerable potential for a strong rally as one can construe from your message that it will be in uncharted territory, a bullish sign.

That is also true, there probably won't be too much over head resistance so a breakout could be very strong.

I would put more weight on the fact that once stocks in this sector get some momentum behind them they tend to run very hard.

I hold a small parcel and will add to that if we see some strong momentum.

 

[sagitar]

Re: BKP - Baraka Petroleum

Hello nomore4s, you do raise a good point - that is a valid reason why BKP may not follow historic price patterns. However, I think that's only half the story - we still have the same stock only rebranded with respect to exploration of the same resource but within a different region, perhaps more shares on issue, and a change in management. BKP, however, is still a petroleum/gas-based company with a long trading history under the same name Baraka Petroleum. Thus, this will most likely attract the same or similar types of shareholders and arguably with the same trading style. Given there is at least a visible historic price map for this company on the charts, I would suspect key pivotal points, such as past resistance and support lines, would still serve as valid contraction points. I myself have drawn these key support/resistance lines based on past history (and perhaps others have as well) although whether they're still valid, the jury I suppose is still out. Privately, I'd contend that they are but it would be best to wait and see. Best of luck.

 

[greggy]

Re: BKP - Baraka Petroleum

Hello nomore4s, you do raise a good point - that is a valid reason why BKP may not follow historic price patterns. However, I think that's only half the story - we still have the same stock only rebranded with respect to exploration of the same resource but within a different region, perhaps more shares on issue, and a change in management. BKP, however, is still a petroleum/gas-based company with a long trading history under the same name Baraka Petroleum. Thus, this will most likely attract the same or similar types of shareholders and arguably with the same trading style. Given there is at least a visible historic price map for this company on the charts, I would suspect key pivotal points, such as past resistance and support lines, would still serve as valid contraction points. I myself have drawn these key support/resistance lines based on past history (and perhaps others have as well) although whether they're still valid, the jury I suppose is still out. Privately, I'd contend that they are but it would be best to wait and see. Best of luck.

Hi Sagatar,

Well written and thought out.
BKP has had a good week from a technical point of view. There seems to be a lot of accumulation going on. Also, BKP's potential in its 2 NT permits is jaw dropping.
News of another acquisition for BKP will also increase trader interest.
I've made huge money with other companies that have been recapped.
With CTP likely to drill a number of targets over the next 6-12 months or so the spotlight will be on those explorers with exposure to the NT oil and gas sector. Indeed, it might end up being a massive boom.
Thanks to Young Trader for being the first to highlight this stock. Look at his record and you'll realise he's got a fantastic reputation.
DYOR

 

[sagitar]

Re: BKP - Baraka Petroleum

I won't duel on the issue but here's a chart to demonstrate my point. View Resources (VRE) was delisted and then relisted, although technical parameters were still valid.

 

[greggy]

Re: BKP - Baraka Petroleum

I won't duel on the issue but here's a chart to demonstrate my point. View Resources (VRE) was delisted and then relisted, although technical parameters were still valid.

Sagitar, nice chart.
A lot of lowly priced oil and gas stocks have had amazing runs of late. LKO, NWE, BUY, CTP, ROG and MOG just to name a few have had excellent runs so have a number of recapped stocks.
History, over and over again, keeps on repeating itself. A number of recaps have made lots of money for traders. Some of the more famous have been Western Metals (from 1.5c to at least 50c) during the uranium boom and what about Consolidated Minerals.
BKP has 2 exciting permits in the NT which is becoming a hot area and is looking for new acquisitions. A number of companies have had strong runs after announcing such acquisitions, the best example during the week was MOG.
DYOR

 

[sagitar]

Re: BKP - Baraka Petroleum

Couldn't agree more Greggy. With energy being the next hot sector, BKP imo is well placed to making significant future share price gains.

I have to say I was impressed with the latest announcement, not only for the content (eg. having ISIS consultants onboard) but also with the informational style and delivery of that content....it was almost as if they had been reading our minds (or was it our threads...LOL).

Anyway, they certainly appear to be capable of promoting themselves well, which for many small / med cap stocks is often a limiting barrier to capturing market attention and appeal.
cheers.

 

[greggy]

Re: BKP - Baraka Petroleum

Couldn't agree more Greggy. With energy being the next hot sector, BKP imo is well placed to making significant future share price gains.

I have to say I was impressed with the latest announcement, not only for the content (eg. having ISIS consultants onboard) but also with the informational style and delivery of that content....it was almost as if they had been reading our minds (or was it our threads...LOL).

Anyway, they certainly appear to be capable of promoting themselves well, which for many small / med cap stocks is often a limiting barrier to capturing market attention and appeal.
cheers.

Hi Sagitar,

I've already made the prediction that when CTP starts drilling it will turn the spotlight on companies with oil and gas interests in the NT and that it may lead to a new oil and gas boom (NT style).
Being so close to where CTP is will be a real bonus for BKP. The Georgina Basin is considered the most prospective basin in the NT for oil and gas.

Also, the company is great in keeping the market up to date. I can't wiat for the ISIS consultant's report about the prospectivity of BKP's permits.
Could it possibly be the case that there are multiple prospects with potential for "hundreds of million of barrels of oil" and multiples of TCF of gas on BKP's permits just like CTP's nearby?

BKP seems to be a speculator's dream. New management, reasonable cash levels, a good PR machine, exciting prospects and a hot sector, the nearology effect, a stock easy to get in and out of and looking for new acquisitions. A new acquisition might also lead to a significant re-rating for BKP's share price.

Traders are accumulating their positions. The people on the street have yet to hear of this stock which is a good thing. Once drilling action gets underway in the overlooked NT the media spotlight will turn to CTP and other stocks like BKP.

I've been trading since 1979 and have never received so many enquiries from other traders about a particular stock like BKP before. IMO the best is yet to come for BKP.
DYOR

 

[Wysiwyg]

Re: BKP - Baraka Petroleum

I have to say I was impressed with the latest announcement, not only for the content (eg. having ISIS consultants onboard) but also with the informational style and delivery of that content..

What do I detect a hint of there. No doubt BKP are into an area of hope with no proven oil or gas producing wells in the Georgina Basin.

There is no current or historic hydrocarbon production in the Georgina Basin, and the minimal exploration activities to date have been related to the identification of minerals. 18 wells have been drilled in this area and none tested valid structural closures.

No valid structural closures but over in Queensland there was some gas found.

Early exploration in the Georgina Basin consisted of stratigraphic holes or wells whose location was based on surface geological mapping. This included a number of wells drilled in the 1950s and 1960s, culminating in the Ethabuka-1 well in Queensland which recovered gas at 6,000 m3 per day (240,000 cfd) on test.

As usual, do your own research.

 

[greggy]

Re: BKP - Baraka Petroleum

What do I detect a hint of there. No doubt BKP are into an area of hope with no proven oil or gas producing wells in the Georgina Basin.

No valid structural closures but over in Queensland there was some gas found.

As usual, do your own research.

Ah yes, Wysiwyg,

I remember your last inspiring comment "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." I think with new management that the talk it up bald guy has gone and BKP has a reasonable amount of cash and new prospects. Its also looking for new acquisitions as we speak.

I'm sure that traders have done their own research and like what they see. It might aslo be foolish to write Young Trader off so quickly. Turnover has increased sharply last week and the share price has gone up 40% in a week.
Since your last negative post BKP has gone up 40%..What will the effect be this time around..

No ones doubting that the NT is still relatively frontier territory. Also as mentioned time and time again, the Gerogina Basin is considered the most prospective basin for oil and gas in the NT. Many oil and gas analysts agree in this regard. This is where BKP is and CTP has a large acreage there as well. Indeed, interest has also increased of late for CTP and they now have stong financial backing.

But perhaps I'm just wasting my time here with non-believers. If we took the occasional negative punter's word I reckon Australia would still have been looking now for its first barrrel of oil..The Browse Basin and others would never have been discovered...LOL.
DYOR

 

[greggy]

Re: BKP - Baraka Petroleum

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

..And one more thing Wysiwyg. I remember this post of yours back in 2006.
It might explain the reason as to why you're so negative. For all we know you might have lost a fair bit on it back then, but now its a different company with new management, exciting prospects, reasonable amounts of cash and no debt.

Its now been recapped although I note back in 2006 you thought "further down the line looks good". Back in 2006 wasn't the share price trading in the odd 30c range...Surprise...surprise..you were wrong even back then. At least you're consistent..LOL

Anyway, best of luck with your other trading activities. As for me, I'll continue to DMOR (a new abbreviation for me, Do My Own Research).