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A general comment from Peter Strachan from the GOC:

 

Baraka Petroleum outlined ambitious growth plans, based on forming an alliance with like minded juniors to take on development projects in Francophone Africa. Meanwhile, the companyÃÆâ€â„¢ÃƒÆ’ƒâہ¡ÃƒÆ’‚¢ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡Ãƒâہ¡ÃƒÆ’‚¬ÃƒÆ’¢Ã¢Ã¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¾Ãƒâہ¡ÃƒÆ’‚¢s Heron well, targeting up to 200 mmbbls of oil, onshore Mauritania will drill during October.

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In reply to: annaliese on Wednesday 06/09/06 01:14pm

Nice find annaliese. Here's some healthy speculation for you - BKP will be farming into the Cabinda South block in onshore Angola. Pure speculation on my part, but here's my reasoning....

 

The company has mentioned that it is targeting "near field exploration ventures" in Francophile West Africa. Now this Peter Strachan character is talking about an alliance with like minded juniors.

 

France have diplomatic relations with Angola (hence they are a Francophile West African country).

 

Most of Chevron's oil is produced from the offshore block adjacent to the Cabinda South block......ie. "near field exploration".

 

And ROC has a large 60% stake in the block and is due to spud its first exploration well in late 2006/early 2007. Baraka and ROC have good relations - they worked on the Morocco project together before it was canned due to political and technical issues. But ROC would certainly be a like minded junior and have enough of a stake to warrant farming down to Baraka.

 

Could be an interesting follow up to Heron.

 

The other new venture I wouldn't be suprised to see Baraka try and pick up is farming into the Gabon licenses that Hardman sold a year or so ago. Wouldn't be the first time they've picked up a chunk of land relinquished by Hardman (ie. coastal block in Mauritania). And again - Gabon is a Francophile West African country with oil discoveries nearby and should be due for sinking a well or two by now.

 

Cheers,

Butcherano.

 

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In reply to: butcherano on Wednesday 06/09/06 03:59pm

Interesting speculation Butcherano. I certainly would'nt put it past Baraka partially swapping acreage for a productive asset.

 

Their land bank is so large that they have quite a lot of flexibility in the deals they can do.

 

Given Max set up the Mauritania acreage for HDR/ROC and sold his personal holding to ROC both companies could feature in future plans. Perhaps ROC more so with the departure of Ted Ellyard and Alan Burns from HDR.

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In reply to: annaliese on Wednesday 06/09/06 02:14pm

very much agree with the speculation.

 

Regardless of whether BKP has the capacity to exploit the large land holding is beside the point. BKP will want to farmdown, exchange assets to get a better mix (more income, diversified risk).

 

Like the speculation. http://www.sharescene.com/html/emoticons/cool.gif

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brabus,

 

QUOTE
Key Dates
Lodgement of Prospectus with ASIC and ASX
Wednesday, 30 August 2006

Public Offer Opening Date
Wednesday, 30 August 2006

Public Offer Closing Date**
Wednesday, 20 September 2006

Anticipated date for allotment and issue of New Shares and New Options**
Friday, 22 September 2006

 

I'm in first seat for this, applied and paid on the first day!

 

 

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In reply to: King Baz on Wednesday 06/09/06 05:27pm

can you confirm target depth date?

 

http://www.sharescene.com/html/emoticons/biggrin.gif

 

Then I can put it on my watchlist http://www.sharescene.com/html/emoticons/laughingsmiley.gif

 

Should be worth a buy early sell before the spud like a few others.

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