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In reply to: allanc on Friday 09/02/07 09:32am

Possibily ? However so far the volume only represents ~ $110K


The insiders would have to hold considerably more than this amount.


Support at capital raising price of $0.20 currently with ~500K on the bid


Previous drill penetration rates would only suggest a ~ 50 metres advance from tuesdays figure!


However concerned and watching

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In reply to: allanc on Friday 09/02/07 09:32am



Sell down today, not encouraging. Still cant help but feel it is to premature to make such a call. My guesse is someone has made that decision that if there was no good news by close of week then they are out. I would amagine/guess that drill should be 10+ meters into the Aptian sandstones by now. So would amagine there should be some indicators ? But I would not agree that no news is bad news. I may seem a bit blase, but I have given up day to day trading on such stocks so not unhappy to weather minor storms.


Volume is up, but 800 turnover is not what I would call insiders running for the door. Tis still early enough in the day and suspect a lot nervous traders will have stop losses triggered.


Maybe preliminary wireline analysis for the upperzone is done. It was always going to be stretch to have it declared commercial.


Maybe the drill is running into technical difficulty ?


Im holding tight till Tuesdays announcement. I might cop some losses, but have a lot of faith in the future prospects of BKP, and for that matter I am still confident of Heron1 main target coming good.


As always my opinion - Good luck to holders.







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And here is a bit more on TAS from The Ferret in todays business news


TASMAN RESOURCES (TAS) was one of those replies to an ASX query

which should fan the flames of buyer ardour.

Tasman has climbed from 20c last Tuesday to as high as 28c

yesterday, before closing at 24.5c, up just 0.5c.

The company reminded the market that as pointed out in the

quarterly report on January 31, it was the biggest shareholder in EDEN

ENERGY (EDE) with 32.9 million shares and 32.9 million options at prices

of 62.5c and 40c, respectively.

The holdings - which are in escrow - are worth a total $33.6

million or 30.8c a Tasman share.

Even as Tasman was doing its sums Eden continued to climb,

yesterday closing at 67.5c and the options at 47c.

That makes the combined holding worth almost $38 million, or

more than 34c a Tasman share.




And that's not all folks.

The uranium exploration assets held by or under application by

Tasman Resources in South Australia and Western Australia are to be spun

off into a new uranium float, FISSION ENERGY.

A prospectus for the $4 million minimum IPO is expected in six

to eight weeks with a planned listing mid-year.

Fission will hold all entitlements to the sediment hosted

uranium potential of Tasman's wide spread of exploration acreage

throughout South Australia (excluding 13 sq km of the Parkinson Dam

gold/silver epithermal project area), in addition to a suite of nine

uranium exploration licence applications in Western Australia.

Tasman shareholders will have priority to 10 million of the

share offering.

The record date has yet to be determined.


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In reply to: roadrunner on Tuesday 13/02/07 08:46am

Well people can only blame themselves, these pipe dreams hardly ever live up to expectations. Oil investors often avoid companies that are finding oil or have oil/gasfields moving very close to development. Going for these 10 baggers can be fatal, better to settle for the more certain lower profits available from many other oilers.

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Interesting that they have only drilled to 3900m. Anyone know why, I thought the Aptian was supposed to be 300m thick. By this they have only drilled the top 100m. Maybe it wasnt as thick as they expected and have hit basement? What other reason would make them stop?
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In reply to: Marsupial on Tuesday 13/02/07 09:19am



Seems premature to call TD at 3900m as they only just reached the Aptian Sandstone at 3822m.


I would have expected them to push onto 4000-4100m to get a better picture of the geology assuming the Great Wall rig could handle it!


As you say 3m sandstone is too thin to be commerical and at 3834m depth the oil window is diminishing.


The fault on the seaward side may have prevented oil migration into the Heron structure hence the lack of depth of shows experienced at Autruche 1. If thats the case then WPL may wish to drop a hole on the seaward side of the fault.





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