CND - Condor Energy

[Miner]

Re: BKP - Baraka Petroleum

Large volumes through, today.

Looks like some traders are getting loaded up...


Holding BKP at .003c

mate your consistency with BKP did pay you off.
My good ness what a volume. DNH but that is okay and grapes are still sweet . (Do not want to confess that my buy order at .003 did not work out even the prices were jumping between .003 and .004 due to a large no of orders on waiting list)
I have noticed how diligently you have been making comments on BKP.

Congratulations for your hard work and sharing secret in ASF

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Hi Miner,

Thanks for your kind words.
I do try and make informative posts (and then small updates when appropriate). For me it is important to make a post as soon as I have finished buying (at least for the time being), clearly state the risks & potential rewards, and also state the price that I bought in (usually around the SP when posting). This shows that I am genuine and lets others consider what I write. After all, the vast majority of companies have plenty of shares on offer for all at ASF to make a quid.

Like all stocks, there are no guarantees but for the reasons listed, I think BKP is a very likely chance of significant BESBS (Buy Early Sell Before Spud) gains before drilling late in this quarter.

All the best with your investments.

Cheers,
BESBS

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Looks like gravy-train is delayed. Drilling in EP 127 at Macintyre now should occur in February once the Canadians get the Georgina Basin program underway in January.


Still holding...I'll just wait the extra few weeks.

 

[STRAT]

Re: BKP - Baraka Petroleum

Looks like gravy-train is delayed. Drilling in EP 127 at Macintyre now should occur in February once the Canadians get the Georgina Basin program underway in January.


Still holding...I'll just wait the extra few weeks.

Hi Garry...
Its been a long time sleeping for a BESBS play eh?
I guess I can wait another four months

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Hi Strat,

Just as I said on the 19th, BKP have announced today that drilling is no longer for October but "early 2011."
Knowing the country, the rig required, funding etc., I am hoping for late February but at the moment, probably April. JMHO on the presicted timing...


Still happy to hold and accumulate on weakness as the game is still on, simply delayed. A potential bagger remains...

 

[Greenbow]

Re: BKP - Baraka Petroleum

It looks like there is a fair bit going on with BKP. Vol's up and hits 0.006c

Here she goes...

 

[againsthegrain]

Re: BKP - Baraka Petroleum

Anticipation for the Scott Ryder report, if it comes out in the coming days with the positive news that management has been promising this will really take off, lets hope this momentum build up is not for nothing

 

[beatle]

Re: BKP - Baraka Petroleum

I've had a wad of BKP filed in my bottom drawer for ages, knowing that sometime in the future it will blow. It seems as though there is something setting it off at the moment, and it may well be the Scott Ryder report, but I would be interested to know what is the basis of the company recently bringing on a new Technical Director - maybe this relates to some business that he is up to? (I know nothing as the colonel says, but pre-supposing something for the share price to have gone up after such a long time in hibernation!).

 

[beatle]

Re: BKP - Baraka Petroleum

BKP was a stellar performer yesterday, moving up 50% from its recent trading at 0.4 cents up to 0.6 cents. I notice that there is one bidder at 0.5 cents at the front end, of 18 million shares - that bidder is actually a part of a larger bid of 30 million shares. I would love to know what he/she knows about BKP!

I am not convinced at this point that its about its Georgina Basin holdings, I wouldn't mind it being something completely different regarding new business. In fact I bought my shares when I read that BKP were actively seeking to diversify their business interests with another project. They had previously sought approval of shareholders to place a few hundred million shares over the following 3 months period, but nothing came of it at the time. Thus I kept the shares in my bottom drawer. Is it now time to watch this space with regard to new business opportunities, I hope so .....

 

[BESBS Player]

Re: BKP - Baraka Petroleum

G'day guys.

The Ryder-Scott report is due out soon and I imagine that many punters see huge SP leverege if/when the report claims to have huge potential reserves in the Georgina Basin.

As a secondary topic, Beatle might well be on to something. I can't see BKP wanting to remain a one-trick pony so no doubt they are sniffing around. Maybe different stage of development of the company could also explain recent changes (skill sets) in personal.

Either way, I'm happy to be sitting on a 100% profit at present. :


Holding BKP at .003c

 

[beatle]

Re: BKP - Baraka Petroleum

BESB, great to see your post and I can feel your confidence regarding the Ryder Scott report - I have no view on the outcome of that report, but if I take a line through adjacent permit holder CTP with regard to the market capitalisation comparison of the two then BKP is in for some very interesting times, notwithstanding CTP has considerably more acreage:
1. CTP has more cash in bank (not sure how much now, as it has burnt a lot of cash recently before going to the market, but if we assume $30 million, based on last cash flow report as of 30 sept report), then its enterprise value is around $30 million.
2. BKP enterprise value around $9 million.
BKP has free carried interests in certain of its tenements so it doesn't burn cash to have exploration advance potential value for the first wells in each of 2 permits, and it retains 75% interest in the 75km² area surrounding the Elkedra-7 site on EP 128 where previous drilling has indicated heavy oil staining!

This suggests to me that BKP has the potential to run a long way up from its current share price, certainly potentially double or more of its current 0.6 cents share price just on its Georgina Basin assets, let alone any future new business venture, that could add considerably more if a good project is added (that's actually the basis of my past investment).

 

[againsthegrain]

Re: BKP - Baraka Petroleum

What a finish to the day, .07 is just at the finger tips, come on bring out the report monday

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Ryder-Scott soon but REALLY nice times ahead in 2011 Once the drill bit approaches, then we will see a 2nd flurry.

 

[beatle]

Re: BKP - Baraka Petroleum

Hi All, and great to see some more posts on the BKP thread!

What a week of excitement, and with no real indication of what is up with BKP apart from the speculation that it relates to a technical report on BKP's Georgina Basin oil/gas potential.

Or is it the much anticipated drilling in EP 127 early in 2011?

Or is it another new business entirely unrelated?

Does the recent change in Director have something to do with it?

I have so many questions now, but sure as anything, where there is smoke there is fire, and over the past week we have seen the share price rise 50%!!! On huge volume of in excess of 60 million shares and Friday alone of 50million shares, it looks like the share price will move higher very soon, and its possible that it will cruise up another 16% on the open on Monday, knowing that overseas equity markets are UP, and the oil price is UP!

I believe that its market capitalisation at only $10.7 million is absolutely nothing for an explorer due to have a significant hole spud on highly prospective ground, on a free carried basis. I can see a reason for BKP share price being at least double and more based on its current 0.6 cents just on a comparative basis to other oil/gas explorers!

 

[beatle]

Re: BKP - Baraka Petroleum

Since my last post on BKP I'm even more convinced that the remaining shares on offer at 0.6 cents will fall on Monday, tomorrow, in anticipation of something happening. I'm just not sure what it is though!!!

With considerable anticipation in my mind ...

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Hi Beatle,

Guess we will see.
Certainly the punters are getting excited about the prospect of the Ryder-Scott report. Given the usual 'potential estimates' that such crowds release (ironic that only 1 in 10 drills usually have commercial success, and then only a few of those ever reach expected estimates), the SP is being driven up as the potential leverege is huge here.

BKP are playing this very clever. SILENCE... We were meant to have the Ryder-Scott report before Sept 30 then see drill in October. Report still pending???No update on drilling??? FUNNY ABOUT THAT!
Management held their nerve, the punters assume the report is due, so the SP is up now (and I am happy, of course).
IMHO, the report will be released just when the punters start to question "where is the report?" and just before the SP spike deflates.

As for drilling, I'd be amazed to see drilling before March and I am punting on Q2 2011. Hope to be wrong on the drill front but all my sources (non-BKP) confirm March at the earliest. Still, all will beleive what they want I guess.

Enjoying the ride...


Holding BKP @ .003c

 

[Albi]

Re: BKP - Baraka Petroleum

Hi
BKP announcement is now out. Drilling programme ahead.Some positive news...........

 

[beatle]

Re: BKP - Baraka Petroleum

I think the most important aspect of the announcement today that I see, in regard to the slightly amended deal with the Canadian company, is that BKP has demonstrated its aversion to taking a risky, potentially costly role with the forthcoming exploration, and it should enable BKP to enjoy the benefits of any upside in that drilling as well as reducing the risks associated with the exploration costs! Having a street smart management team is a real positive, and BKP's strategy demonstrates that good management, so often lacking in junior explorers.

 

[beatle]

Re: BKP - Baraka Petroleum

BKP has been relatively quiet with trading the past couple of days and maybe its calmed down with the realisation we have got a couple of months to go before the drilling commences. I suggest that anyone wanting in for a punt before the price begins to move again then now when the market is a bit weaker is an excellent time to get shares, i have bought a few more to add to what I have held for quite a long time. But if you buy in now, don't expect it to move much before it is within sight of commencing the drilling, otherwise you may well be disappointed! Time is of the essence in these punting stocks in my view!

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Hi Beatle.

Very sensible analysis.

Management will release the Ryder-Scott when convenient to try to keep a platform under the SP. Drilling won't be until March at the earliest but this play will run when we get there.

Great time to buy on weakness.


Holding BKP at .003c