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QUOTE (apache123 @ Monday 04/07/05 08:48am)

Apache,

 

You seem to be a Lone Wolf on this board. BKP seems to have some good territory and classy JV's getting lined up for future drilling. The Chinese connection may be interesting. Any idea when first drill is likely to occur. The market tends to get a bit impatient having to wait more than a few weeks, and so the SP may drift lower unless a drilling program is also announced.

 

Mensa.

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QUOTE (Mensa @ Monday 04/07/05 08:58am)

QUOTE
Any idea when first drill is likely to occur.

 

Mensa, at the moment they are pouring over the Cap Juby seismic to determine if they want to risk a well there. If so, probably look at a well around Q1 2006.

 

Onshore well at Herron 1 is likely to be Q2 2006.

 

Drilling rigs are hard to come by at the moment, so theres a delay in contracting one.

 

Too early to tell with exploration wells at Taoudeni Basin as it depends upon when they can acquire seismic.

 

Meanwhile, BKP will probably follow the action at HDR's drilling at Sotto and Colin wells (north west of BKP's Herron Prospect at BLOCK 20 tenement)

 

Meanwhile, with at least $14M in the kitty, I am sure they will be shopping for other tenements or farm in opportunities.

 

There is also the chance of AIM listing (never known a company to knock back opportunities to raise more capital - also makes the company bit harder to swallow by a predator).

 

Apache

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In reply to: apache123 on Tuesday 05/07/05 06:02pm

Hi Apache,

 

I'm just starting into my research on this company now. Thanks for all the informative posts you have made. They've reduced my research time.

 

At this stage I will probably look to buy on weakness over the next 6 months with a view to having a sizable but cheap(ish) holding before next years drilling.

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In reply to: annaliese on Thursday 07/07/05 09:24am

QUOTE
Thanks for all the informative posts you have made. They've reduced my research time.

At this stage I will probably look to buy on weakness over the next 6 months with a view to having a sizable but cheap(ish) holding before next years drilling.

 

Thanks Annaliese.

 

Yep, sound approach.... buy on weakness then put in cupboard draw until later.....

 

Whilst there may not be much direct drilling action at the moment, we can watch over the horizon to see how HDR are doing with their nearby exploration wells.

 

They have a reasonable kitty so they may farm in elsewhere to build up their drilling schedule in the meantime.

 

AIM listing is also a possiblity.....

 

Apache

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In reply to: apache123 on Thursday 07/07/05 01:02pm

I used to hold HDR but when stocks get to the level HDR are at I loose interest. They just don't have the leverage anymore.

 

Baraka on the other hand appear to be an HDR in the making.

 

The formula of attaining large acreages and then farming down to a free carry or near free carry is very attractive. A proven method for a junior to become a senior. Block 20 looks like a start in this direction if not a company maker in itself.

 

 

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In reply to: annaliese on Thursday 07/07/05 10:22am

QUOTE
I used to hold HDR but when stocks get to the level HDR are at I loose interest. They just don't have the leverage anymore.

 

Yep totally agree Annaliese.

 

HDR is for LT investors who are prepared to rough out the dips and troughs.

 

PCL has come up on my radar recently, so you may want to check it out as well.

It has access to some potentially world class oil fields at Malta.

 

Apache

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In reply to: apache123 on Thursday 07/07/05 01:27pm

I've looked closely at PCL a number of times but I don't like the number of shares, lack of cash and intuitively it does not seem right(yet).

 

BKP,NWE seem much better plays at this stage.

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In reply to: annaliese on Thursday 07/07/05 10:36am

QUOTE
I've looked closely at PCL a number of times but I don't like the number of shares, lack of cash and intuitively it does not seem right(yet).

 

Annaliese

 

Yep agree it does not look right at present but it presents a buying opportunity when there are disillusioned investors.

 

Same approach as BKP, buy on weakness and put in cupboard draw for short term...

 

Apache

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