CND - Condor Energy

[STRAT]

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 ?

I had a bit of a chuckle this morning. A trading Halt followed by... The Directors of your company have sold their shares.utthedoor:
I guess they had to get it out there so to follow with good news was the best way to get it done without too much upset.

Miner. Are you the member on Share Trader that goes by the same name?

 

[beatle]

Re: BKP - Baraka Petroleum

Hi Miner and good to hear your comment re the directors sales.

I too at first thought fairly negatively about their selling, particularly before we got the Ryder Scott Report released.

Just my thoughts on it:

Firstly it is a negative always for directors to sell, regardless of how the company is going, since it suggests that the directors have less faith in their own company. However, in the case of BKP the directors are not paid substantial fees to further the company's cause, and I guess this sale does allow them to monetise the shares issued to them.

Secondly the timing is relevant. They appear to have sold shares at the time of the AGM, probably just after the meeting, and thus must believe they are clear of any insider trading issues. Additionally the news release of the Ryder Scott Report this morning seems to be positive rather than negative.

The Ryder Scott Report comments on the potential of BKP's tenements being highly prospective for oil in "hot shales", thus the potential for between 4.8 - 11 billion recoverable barrels of oil in place on lands that BKP have 25% interest in ie 1.2 - 2.75 billion barrels of oil attributable to BKP!

For a company still at around $12 million market cap it suggests to me that BKP remains a fantastic punt for those who follow stories with the potential to be a mega company, regardless of what the directors have done personally on market! Just imagine the share price of BKP when drilling is underway next year - its unlikely to be sitting around 0.7 cents per share provided the general market remains buoyant IMO.

 

[againsthegrain]

Re: BKP - Baraka Petroleum

Looks like the directors selling notice has been well forgotten with that big buyer taking out the whole 08. Tomorrow will indeed be a very interesting day. The 1c psychological barrier is due to fall anytime now

 

[tasovvv]

Re: BKP - Baraka Petroleum

This baby is looking good. It will be interesting to see how the price rolls out towards the end of the week. Wouldn't surprise me if it tumbles over 1.0 by the end of the week.


Keep a hold onto these for a while !!!!!!!!!

 

[BESBS Player]

Re: BKP - Baraka Petroleum

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?

G'day Mark,

Great to read today that the Ryder-Scott estimates were basically what we predicted from Canada - yes, 4.8 billion barrels (low estimate). Needless to say, many punters entered BKP as this would have been one milestone that some wanted to see before entering. Truthfully, I think most speculators expected huge estimates here and many punters would already be in.

From my perspective, the next big announcement (much bigger than today as we really knew this beforehand) is the booking of an appropriate rig and crew. This is crucual and I expect that big $$$ will enter BKP once this is announced (provided that the spud date is not H2 2011!) My reasoning is simple. Rigs capable of horizontal drilling are specialised and therefore 'ticking the box' of a rig and crew must be done. Once this is confirmed, then drilling is on...and given the potential size of the prospect, then the punters will come in quickly.

Keep enjoying the ride! Sure we will bounce slightly in the lead-up to the rig announcement but hang in there...it will be worth it!



G'day Miner & Strat,
Yes, I did smile at the director notice. From where I see it, the guy has sold a small percentage of his stock. True, it is good to see directors hold but given the small amount (as % of holding), I think that the guy deserves to cash in a few to lock in money. Given that is what I usually do, I can't be too harsh on him...no doubt it will help pay bills or a mortgage.
What I did smile at was the way the 2 were released together. BKP have been the masters at playing the media releases - so easy when you have non-listed JV partners- all the way and continue to do so. A bit dodgy? - yes. Do I benefit?- yes Will I complain? - guess not as I am benefitting from this obvious behaviour.


Good luck to all holders.

Holding BKP at .003c

 

[Miner]

Re: BKP - Baraka Petroleum

folks

Thanks for your spontaneous reply clarifyiing my post on director's sale and good report on BKP.
From my experience in this forum, all those comments prior to this one were published by all reasonable people and I value them. I am also taking the logic that unless all directors are like Rupert Murdoch who not only has share holding but also enjoys a high commission, bonus and salary, the directors like BKP need to sell some times to book profit.

Underestandable and hope tomorrow will be a nicer day.

Keep the faith and it looks like too late for me to re-enter. But that is life

 

[Miner]

Re: BKP - Baraka Petroleum

I had a bit of a chuckle this morning. A trading Halt followed by... The Directors of your company have sold their shares.utthedoor:
I guess they had to get it out there so to follow with good news was the best way to get it done without too much upset.

Miner. Are you the member on Share Trader that goes by the same name?

- I might have been a discontinued member of share trader or may not be a member. I am failing to recollect as the only forum I interact is ASF. I do subscribe HC but probably not contributed or visited there more than 6 months. Probably never participated in Share trader (is it the one by Jim Berg ?)

sorry folks of BKP this is an off topic :topic

 

[Megacents]

Re: BKP - Baraka Petroleum

- I might have been a discontinued member of share trader or may not be a member. I am failing to recollect as the only forum I interact is ASF. I do subscribe HC but probably not contributed or visited there more than 6 months. Probably never participated in Share trader (is it the one by Jim Berg ?)

sorry folks of BKP this is an off topic :topic

It may have been off topic but you replied to a genuine question.

Some ramping going on at the other site, a bit like the CTP bull days.

It is true that the rig contract is important due to the horizontal drilling mode. Even a hint of oil will push this stock over 1cent IMHO.

The next few months will be very important for BKP.

Looking forward to some action in the 5KM sq zone around Elkedra 7 well.

 

[Megacents]

Re: BKP - Baraka Petroleum

Looking forward to some action in the 5KM sq zone around Elkedra 7 well.

Sorry that should have stated 75Km sq zone around Elkedra 7.

The Ryder Scott report is out and there is a bit of info to digest well 67pages.

Just a quick section page 1:

http://www.norwestenergy.com.au/index.php/download_file/-/view/215/

Unrisked Undiscovered OOIP (Billion of Barrels)
EP127: Low: 19.789
EP128: Low: 34.969

Unrisked Prospective Recoverable Oil Resource (Billion of Barrels)
EP127: Low: 1.753
EP128: Low: 3.097

I have only posted the low estimates as it is only estimates.

Looks good.

 

[BESBS Player]

Re: BKP - Baraka Petroleum

G'day Megacents,

Ryder-Scott looks good but given the leaks and releases from the Canadians, we basically knew all the detail (hence it is almost 'business as usual' for BKP).

I suspect that we shall tread water for a little while before the surge of traders hit the stock in the lead-up to drilling. Not sure when this will occur...could be simply a few large trades trigger a stampede or an announcement that the rig is ready to go on the 1st (non-BKP) site.

Either way, I think that this will follow the MMR pattern where the SP had a final surge from 60c-$1 before much of the speculative money left the stock.
Although different prices, given the leverege here with BKP, I'd expect a surge closer to drilling as well.

Holding BKP at .003c

 

[Megacents]

Re: BKP - Baraka Petroleum

G'day Megacents,

Ryder-Scott looks good but given the leaks and releases from the Canadians, we basically knew all the detail (hence it is almost 'business as usual' for BKP).

Gidday BESBS

I had read some info about a similar report through other companies, talking about a similar place in the NT.

A bit quiet today maybe a bit of MEO influence, investors or potential investors being a bit wary.

I have no idea about the change in price, but if the Canadians pull it off, then BKP will make a bit of money for holders.

Please dyor.

 

[againsthegrain]

Re: BKP - Baraka Petroleum

Not to mention bcc which was a dissapointment today, guess alot of speculators are licking their wounds while bkp is looking better and better in the failed spotlight of the others, glad to be holding this beast

 

[BESBS Player]

Re: BKP - Baraka Petroleum

G'day guys.

Yes, MEO and BCC would provide a dampener for a brief moment or two. Yet keep in mind, with the exception of the Cooper basin and maybe the G o Mexico, most drills are about a 1:10 success rate. Dusters are all part of the small-cap explorers and the punters remain.

Bring on Christmas, New year...punters will cheer up and be back on deck.

 

[BESBS Player]

Re: BKP - Baraka Petroleum

G'day guys.

Yes, MEO and BCC would provide a dampener for a brief moment or two. Yet keep in mind, with the exception of the Cooper basin and maybe the G o Mexico, most drills are about a 1:10 success rate. Dusters are all part of the small-cap explorers and the punters remain.

Bring on Christmas, New year...punters will cheer up and be back on deck.

Looks like 100% correct in the short-term. BKP comfortably 1c now and finishing today at 1.1c.

Enjoying this BESBS ride.:


Disc. Hold BKP at .003c

 

[Miner]

Re: BKP - Baraka Petroleum

Looks like 100% correct in the short-term. BKP comfortably 1c now and finishing today at 1.1c.

Enjoying this BESBS ride.:


Disc. Hold BKP at .003c

Buddy

You are simply awesome.
I know you have been consistent on your analysis reporting on BKP and your patience has paid off.

good luck and congratulations

 

[Liar's Poker]

Re: BKP - Baraka Petroleum

BKP hit 0.012 mid-day today on some nice volumes, especially considering the time of year.

Still holdong since my last post in this thread from 10 months ago - patience, patience.

 

[boff]

Re: BKP - Baraka Petroleum

BKP hit 0.012 mid-day today on some nice volumes, especially considering the time of year.

This last month BKP has been pretty consistently in the top few for volume on the ASX. See here -> http://www.asx.com.au/research/market_info/shares_by_volume.shtm

Does anyone have an idea of when these guys will be making their next announcements? All this activity seems to pointing to something in Jan. Hopefully more detail on when horizontal drilling will start, as per BESBS comments in post #165.

 

[Liar's Poker]

Re: BKP - Baraka Petroleum

This last month BKP has been pretty consistently in the top few for volume on the ASX. See here -> http://www.asx.com.au/research/market_info/shares_by_volume.shtm

Does anyone have an idea of when these guys will be making their next announcements? All this activity seems to pointing to something in Jan. Hopefully more detail on when horizontal drilling will start, as per BESBS comments in post #165.

Nice link.

I also keep an eye on any of CEP's announcements regarding EP 115 (BKP have 0% interest in this). Although in a different permit area, any positive announcements tend to effect BKP's SP in a positive way.

-Liar-

 

[boff]

Re: BKP - Baraka Petroleum

Wow - this puppy is kicking off again today. Doesn't anyone take a holiday these days?
Volume is pushing 50m and the SP just hit 1.6c (at 10.38)
Total daily volume was in the 50m mark for a full days trading the last couple of days.

 

[newanimal]

Re: BKP - Baraka Petroleum

Wow - this puppy is kicking off again today. Doesn't anyone take a holiday these days?
Volume is pushing 50m and the SP just hit 1.6c (at 10.38)
Total daily volume was in the 50m mark for a full days trading the last couple of days.

I put in a sell order for .015 yesterday in case of a sudden spike (like today). got triggered of coarse , just put a buy back in at .011. hope i dont regret the sell. looks pretty quick and steep. I usually expect these things to come back down a bit. we'll see.