CND - Condor Energy

[beatle]

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

Hi BESBS,

With regard to when it will run and a suggestion that it may be pushed up only by the expectation of drilling commencing on its own Georgina Basin tenements as late as March 2011, it should also be recognised there are a few other reasons why it might move well before that:
1. The AGM could infuse a bit more interest with a more explanation of the status of activities. The AGM is on 29 Nov 2010.
2. CTP is moving closer to its primary zone of interest in its Surprise drilling. Even though there is a fair distance between it and BKP's held ground, any successful drilling by CTP is likely to assist in the re-rating of surrounding areas, notwithstanding that distance. (In my opinion of course!).
3. BKP may still surprise with another deal in the meantime, and as i have mentioned previously, its the main reason why I bought in long ago, the promise of a company maker project, certainly the farming out of the larger equity in Georgina Basin points to that strategy, whilst also conserving its cash.

I believe that BKP management has demonstrated a very measured approach to risk and expenditure which are key elements to success to a company!

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Hi Beatle,

I guess we shall see.
I believe that management are doing their best (although they are pushing the boundaries at times.)

From my sources, drilling should be in March (hoping that the 1st well of the 4 drill program might start in February). The JV is hopeful of a rig contract within 14 days. The Canadians hope to have the finances raised and finished by end of first week of Dec. at the latest. My scenario is the following:

To keep SP up, we will get an announcement on confirmed $$$$ raised, a rig booked and a Ryder-Scott Report. My guess is that the Ryder-Scott would be released last, the petrol to throw on the fires lit by the secured funding and rig. My sources also tell me that the Ryder-Scott report is finished but not being released by non-asx JV. If I am wrong, why would they have decided to drill a horizontal drill and know that the potential reserves are worth the effort???? Anyway, I'm OK with the stage managed process as it keeps the SP up.

Good times ahead...

 

[beatle]

Re: BKP - Baraka Petroleum

Hi BESBS, there's a slight increase in volume early today, do you have any idea if its just positioning by someone or whether this is a reflection of some signs of life ahead - of course the AGM is a week away, whether that is just a coincidence or not.

 

[Greenbow]

Re: BKP - Baraka Petroleum

Looks like we may see some action before Xmas - nice volumes and good to see solid amount of bids at 0.006c today.

Can this go to 0.008 i wonder...

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Hi Greenbow and Beatle,

Just a matter now of waiting...and for the punters still on the outer, the question of when does one jump in????
Always fun to watch



Holding BKP at .003c

 

[againsthegrain]

Re: BKP - Baraka Petroleum

AEC have released a nice little presenation on G basin which quote some information from the Scott Ryder report. Things are looking good

http://www.australiaenergy.com/documents/AEC-2010-11-16.pdf

 

[againsthegrain]

Re: BKP - Baraka Petroleum

Judging by no replies I am guessing nobody had a good look, ill give you guys a hint page 15 .. 4.8 estimated million of barrels

 

[beatle]

Re: BKP - Baraka Petroleum

Hi AgainstTheGrain (you couldn't have picked a longer nom de plume could you, lol).

Since BKP has exploded this morning (70 million shares traded in the first 10 minutes and up 33% and touching 0.9 for a tick), I am wondering if the trading is not related to Georgina Basin, but more related to some other project they are bringing on board?

 

[againsthegrain]

Re: BKP - Baraka Petroleum

This is just simply amazing to see half a mil trade in the first 30 mins, not sure what all the hype is about, but great to finally see some action here

 

[againsthegrain]

Re: BKP - Baraka Petroleum

Been touching .9 for 2 days now, lets hope we close on .9 today and with another good day then 1c + should be tested tomorrow

Think that 4.8 million barrels figure put bkp on alot of radars, interesting times ahead, could be a small gold mine here

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Agree ATG and Beatle.

Patience here...I have been saying this for some time...will be HEAVILY rewarded!

Lots of fun annoucements ahead:
- finance arranged in Canada
- announce Ryder-Scott numbers (although we know it will be around 5 billion barrels) based on information in Canada
- rig booked
- spud date confirmed.


Happily holding at .003c

 

[newanimal]

Re: BKP - Baraka Petroleum

besbs, every time you mention your .3c entry i get envious. I got in @ .6c beginning 2010. I'm trying to learn patience and to sense a better entry to be had. Did you get in july or aug 2009 or did you wait till SP went up then back down again to .3c mid 2010? If so what was your thinking if you dont mind sharing some of that wisdom ?

 

[againsthegrain]

Re: BKP - Baraka Petroleum

I initially got in at .6c as well before the spike to .9 after which bpk crashed. Following in mid this year I averaged down at prices of .3 and mainly .4 which were not too hard to acquire with some patience. Funny enough I have now averaged up on the recent news hehe

patience will reward us

 

[BESBS Player]

Re: BKP - Baraka Petroleum

besbs, every time you mention your .3c entry i get envious. I got in @ .6c beginning 2010. I'm trying to learn patience and to sense a better entry to be had. Did you get in july or aug 2009 or did you wait till SP went up then back down again to .3c mid 2010? If so what was your thinking if you dont mind sharing some of that wisdom ?

Hi Newanimal,

No, I entered BKP in mid 2010. I realised that CTP was getting plenty of punters interested and assumed that BKP would also be popular given its area. I managed to here NT Oil (unlisted partner) also talk about this. Management were keen to get BKP going and this prospect seemed the likely avenue for the new management team to get BKP going. While it was a punt, I assumed that any estimate of potential oil would be huge.

Add these factors - very cheap .003c, huge leverege potential, probable huge oil target, new management team desperate to re-start BKP, history of punter support for CTP and big prospects in largely virgin areas - signalled a worthwhile punt.

Cheers,
BESBS

 

[againsthegrain]

Re: BKP - Baraka Petroleum

A resource estimate due to be released by wed, great great lets hope its the same numbers as the link I posted before to the AEC website, 4.8 million barrels coming straight from baraka would be mega imo.

.9 tested 2 times, resource estimate due, with good numbers can only mean recepie for breakout out of historical boundaries for this stock.

Going to be interesting week, and something to dream about during the weekend

 

[BESBS Player]

Re: BKP - Baraka Petroleum

Resource estimate by Wednesday...while I don't hold my breath with BKP and timing, such an announcemtn would be great! One can only assume that the estimate will be similar to what we believe has been discussed in Canada. If so, SP should go whooooshka!


Enjoying the ride

 

[Mister Mark]

Re: BKP - Baraka Petroleum

Resource estimate by Wednesday...while I don't hold my breath with BKP and timing, such an announcemtn would be great! One can only assume that the estimate will be similar to what we believe has been discussed in Canada. If so, SP should go whooooshka!


Enjoying the ride

I to have been holding and waiting, thank you for your posts, thoughts and updates, keeps my faith, but if all is as expected where would you think this could end up?

 

[ubtheboss]

Re: BKP - Baraka Petroleum

Anybody notice that we went into a trading halt Fri night at 745pm?

The resource ann will be made on or by Dec 8.

I wonder what the future holds....

http://imagesignal.comsec.com.au/asxdata/20101203/pdf/01129238.pdf

 

[againsthegrain]

Re: BKP - Baraka Petroleum

The best bet is to wait and see, but if the ann is as good as we expect/hope it to me it will either be a instant re-rating or a gradual sp increase with new floor being estabished until spud.

Either way most of us have been in here for a long time so exciting times, never say never

 

[Miner]

Re: BKP - Baraka Petroleum

Hi All BKP holders

Good to see BKP moving so well (thanks BSEBS - you have been a constant leader on this one and well done).
I do not hold BKP any more but keeping interest.

I noticed on the same day ASX published two reports after trading halt.
Outstanding report on BKP and Director's sale - both are attached.

I am intrigued to see the correlation between a positive news and negative news (sale by a director0. Any one can comment please ?