BKP Baraka Petroleum Ltd

[stolwyk]

BKP: http://www.barakapetroleum.com/ENGLISH/english_index.html

Listed: 23 May, 2005 ($17 mill was raised by issuing 20 cents shares).
Shares: 289.8 mill and 25.4 mill unlisted options.
Share price: 26.5 cents.

The Disclosure Document of 21 April is worth reading:
http://stocknessmonster.com/news-history?S=BKP&E=ASX&Year=2005

QUARTERLY REPORT (Activities and expenditure, cash)
PERIOD ENDING 30 JUNE 2005
http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=295546
Outflow: $3.9 mill. Cash $12.6 mill

Max de Vietri is the MD and CEO:
"Mr de Vietri has spent over ten years acquiring and undertaking preliminary work on a range of exploration properties in West Africa. He introduced hydrocarbon exploration opportunities in Mauritania to Mr Alan Burns, Chairman of Hardman Resources Ltd.
Hardman carried the costs of the exploration properties for some time and then joint ventured the development with a number of parties, including Woodside Petroleum Ltd (which became the operator)."

Comment:
The negative is the high number of shares.
However, the MD, Max is very well connected and I can see few problems with farming out projects, the latest on 19 August:

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=297055
New Mauritanian Government approves Farm-out agreement

Article:
http://www.barakapetroleum.com/ENGLISH/pdf/Baraka_stitches_up_oil_deal.pdf

24 May: Baraka Evaluates Oil Reserves off Morocco
http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=290597

Rating: High Risk. The MD's knowledge of Northern Arica and his connections are a great asset.

Gerry
Holds BKP-Bought at 23.5 cents
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

[Coaster]

Hi Gerry,

I've noticed you've been talking positions in several oilers recently. May I ask what your strategy with these are (long term hold through drilling or flick on as drilling starts)?

Cheers
Coaster

[stolwyk]

I tend to hold these longer term. However, some wells can be dry and hence my stance is not advice.

Regards,

Gerry

[Coaster]

Cheers Gerry

[stolwyk]

BARAKA (ASX :BKP) STOCK MARKET ACTIVITY:

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=299618

[stolwyk]

Completes Seismic Ahead of Schedule
http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=300287

SP: 36 cents

[Packersoldkidney]

Yes, I like this one too, Gerry: got some serious territory up their sleeves.

Long term one, though. In the EXR basket.

[stolwyk]

I have EXR as well. However, BKP will farm out some tenements very soon, I think. And it could well be done on very good terms IMHO.

Cheers,

Gerry

[stolwyk]

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=302064

Interesting:

“The Company’s technical assessment has now identified the Taoudeni Basin’s similar characteristics to those that exist within the prolific hydrocarbon basins in Algeria and Libya to the north, where exploration areas focussing on the Infracambrian plays have been recently opened to the public.”


"The Company is also pleased to announce that Baraka’s Administration Manager Corinne Perrin has successfully coordinated a donation of relief supplies to the population in the North of Mali who have recently been affected by severe drought and famine. The donation of relief aid, consisting of 60 tonnes of cereals, has been jointly made by Baraka and the contractors involved in the airborne survey".

[stolwyk]

Quarterly Report:

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=304388

Outflow; $0.79 mill Cash $11.8 mill

[stolwyk]

Baraka Petroleum is active but it takes some time to achieve objectives.

Website:
http://www.barakapetroleum.com/ENGLISH/english_index.html

They do have the right idea: Farm out at a prospective profit:

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=297055

Extract:
Aug 19: Under the terms of the farm-out agreement announced to the Australian Stock Exchange on 29 June 2005, CNPCIM will acquire a 65% operating interest in Block 20 by funding 100% of the exploration cost, up to US$8.6 million.

This will cover a seismic acquisition program over the Heron structure and will substantially fund the drilling of the planned Heron-1 well. Baraka will retain a 35% interest in the block."

"Block 20 covers approximately 10,690km² and is considered by the Company to be the most prospective part of the onshore area of the Mauritanian Coastal Basin. It is approximately 180km southeast of Mauritania’s first commercial oil discovery, Chinguetti, which is scheduled to produce first oil in 2006 with initial production expected to be 75,000 barrels a day.

It is also approximately 200km south of the capital Nouakchott and close to potential gas markets in Nouakchott and Dakar, the capital of the neighbouring nation Senegal, and other surrounding population centres on each side of the Senegal River".

29 Sept:
"Baraka Petroleum Limited (ASX: BKP) is pleased to confirm that in conjunction with farm-in partners CNPC International Mauritania (CNPCIM), the seismic survey of coastal Block 20 in Mauritania was completed in the past 48 hours, substantially ahead of schedule".

"The early completion of the seismic program gives the Joint Venture partners confidence that the preferred target date of 2nd quarter 2006 for spudding the first well in this project could be achieved".

_____________________________________

OTHER:
http://www.barakapetroleum.com/ENGLISH/projects_basin_overview.html

And MAP of Blocks 11 and 12, as well as of Blocks 1-4,9:
http://www.barakapetroleum.com/ENGLISH/mauri_taoudeni_map02.html

Blocks 11 and 12 (Mauritania):
Here again, a nice farm-out to WPL:
"Woodside has farmed in for a 75% interest in the Taoudeni Basin PSC areas Ta11 & Ta12 subject to an obligation to spend US$18,000,000 on exploration on the two tenements".
_______________________________

Refer to above mentioned map and we get 5 blocks in Mali territory. These are #1-4 and 9.
The conditions for occupation are written here:
http://www.barakapetroleum.com/ENGLISH/projects_mali_link01.html

So, these 5 lots need to be farmed out.
_______________________________

Extra:
24 May: BARAKA EVALUATES OIL RESERVES OFF MOROCCO.
http://www.barakapetroleum.com/pdf/050524.pdf

"As part of The Cap Juby MOU, Baraka has the exclusive right, for a period of 6-months, to
evaluate the field and if appropriate negotiate an exclusive exploration and development
concession for the project".

Comment: That Option runs out this month.

Summary: I think that the farm-out terms of the blocks 1-4 and 9 could be very advantageous to shareholders.

Share price: 31.5 cents.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

[stolwyk]

Media Release 12 December 2005

Results Confirm Development of Baraka Mali and Mauritania Blocks on Track:

Heron 1 Drilling Planning Underway

Baraka Petroleum Limited (ASX:BKP) today announced the completion of reprocessing and interpretation of data for both its onshore coastal block in Mauritania (Block 20) and of its 5 blocks in the Taoudeni basin in Mali (Blocks 1 to 4, 9).

The extremely encouraging results have confirmed the Company’s development of these blocks is on-track, with potential hydrocarbon targets for Block 20 drilling programme now confirmed. Mauritania –

Coastal Basin, Block 20 In Mauritania the processing and interpretation of the 65 km infill survey over the Heron structure have confirmed its closure to the North. Further AVO reprocessing of the 1990 data, coupled with this infill survey have revealed the presence of positive and qualitative hydrocarbon indicators that could be related to the presence of hydrocarbon both at primary (Cenomanian) and secondary targets (Albian-Aptian).

The source for the hydrocarbons within these reservoirs is a different and older source than the younger source that has given rise to the Chinguetti discoveries.

The very recent discoveries of Tevet-2 and Faulcon-1 in similar lithologies offshore Mauritania (offshore B20 for the latter) have contributed to an increase in the probability of success (POS) for the planned onshore Heron-1 well and confirms Baraka’s long standing hypothesis for a working Jurassic and early Cretaceous source. Planning for Heron-1 is well underway.

The second Technical Committee Meeting (TCM) and Operating Committee Meeting (OCM) for the Block 20 Joint Venture partners, China National Petroleum Corporation (CNPC) and Baraka, will be held in Baraka’s office in Perth 20 and 21 December.

The partners will finalize the location and depth of the first exploration well within Block 20. The spud date will also tentatively be finalised and is planned for beginning third quarter 2006, and is contingent on rig availability.

Mali – Taoudeni Basin, Blocks 1, 2, 3, 4 and 9:
In Mali, the contracting company CGG has completed the reprocessing of over 5,800km of seismic data from the 1970’s and early 80’s. The completion of the interpretation of the entire Taoudeni basin in Mali confirms and improves the mapping of:

• The distribution of the Infracambrian source rock interval (stromatolithic limestone) throughout the basin allowing better estimation of the source rocks volumetrics.

• The Ordovician unconformity and the top of Silurian shale interval (shallow oil prone source rock) with increased resolution allowing a much better understanding of the depositional environment.
Note: In accordance with Australian Stock Exchange listing requirements, the geological information supplied in this report has been based on information provided by geologists who have had in excess of five years experience in their field of activity.

• Confirmation of very large (more than 50 sqkm) closed structures in Baraka’s blocks at the Infracambrian level, further indicating that the structure tested by Yarba-1 in 1982 was probably not closed towards the SW, as a possible explanation for only hydrocarbon traces (C1 to C4) found in Yarba-1.

Year 2 of the Mali PSA work programs, following the completion of the airborne surveys due to start later this month, has been extended by the Mali Authorities, at Baraka’s request, from 12 to 18 months to allow Baraka to drill shallow stratigraphic holes to confirm the source and reservoir quality and distribution at the end of 2006.

ENDS
For further information please contact: Max de Vietri, Managing Director / CEO David Tasker Baraka Petroleum Limited Professional Public Relations (WA) Tel: 08 9486 7001 / 0401 691 171 Tel: 08 9388 0944 / 0433 112 936 Em: m.devietri@barakapetroleum.com dtasker@pprwa.com.au

ABOUT BARAKA PETROLEUM Baraka Petroleum Limited is a public company, established to acquire, consolidate and develop oil and gas assets and activities, located initially in the pote

[yogi-in-oz]

BKP updated ..... 16122005:

:)

Hi folks,

BKP ..... looks reasonable, until latter half
of January 2006 .... then throughout the
whole of February there's an underlying
negative tone that may undermine any
positive sentiment, during that month.

March and April 2006 look more positive
for BKP ..... :)

Key dates ahead for BKP, may be:

27-28122005 ..... minor news

06-09012006 ..... minor and positive

13-16022006 ..... minor and positive news

20-23012006 ..... significant and negative

From 23012006 - 27022006 there will likely
be some significant negative sentiment
underlying BKP, even though we may well
see some good news released, during that
time frame ... BIG news/move,
between 27012006 and 13022006 ... ???

Key dates in February 2006, may be:

02022006 ..... negative news

05- 06022006 ..... a long cycle and a negative
spotlight on BKP, here ...???

09-13022006 ..... positive ... financial???

20022006 ... significant & positive news?

08032006 ..... positive spotlight on BKP

16032006 ..... positive news? ..... same
price as 20022006 ???

23-27032006 ..... negative changes to
finances .....???

2903-10042006 ... BIG news/move here,
may be triggered by some positive news
on 05042006 ..... same price as 20022006
and/or 16032006??

07042006 ..... minor changes

10042006 ..... long cycle here, so may
go flat for a couple of days.

21-24042006 ..... significant and positive ,
... finance -related???

happy days

yogi

:)

[stolwyk]

Woodside & Baraka re-process seismic data

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=311385

[stolwyk]

Media Release
24 January 2006
Baraka and CNPCIM Agree on Mauritania Block 20 Well Location

Baraka Petroleum Limited (ASX: BKP) is pleased to announce that together with representatives of Joint Venture partners CNPC International Mauritania Limited (CNPCIM), a wholly owned subsidiary of CNPC International Limited (CNPCI), the company has confirmed a
well location for the drilling of the Heron-1 well onshore coastal Block 20 in Mauritania.
This decision was made at the Technical Committee Meeting (TCM) and Operating Committee Meeting (OCM) between the two parties in Perth on December 20 and 21 2005 and ratified in the New Year. It follows a reinterpretation of the results at Block 20, by both parties, including the recently concluded seismic survey.

Total depth of the Heron-1 well has been fixed at 3800m with primary objectives in the Cenomanian sands and a secondary target in the Albian-Aptian sand and limestone interval.

The very recent discoveries of Tevet-2 and Faulcon-1 in similar lithologies offshore Mauritania (offshore B20 for the latter) have contributed to an increase in the probability of success (POS)
for the planned onshore Heron-1 well and confirms Baraka’s long standing hypothesis for a working Jurassic and early Cretaceous source.

Baraka’s Chief Operating Officer, Dr Satyavan Reymond believes the confirmation of a well location at Block 20 will prove to be a key milestone in the development of Baraka Petroleum.
“We are very pleased that there has been a convergence of approach in selection of the well location with our partners CNPCIM, which strategically combines both targets. This decision follows a thorough review of all available data and we believe the revised probability of success (above 20) is encouraging” Dr Reymond said.

The Environmental Impact Study (EIS) specific to drilling in the Northern half of Block 20 is well underway and being conducted by KOMEX, a London based company that conducted the EIS
for the seismic survey in Block 20 as well as similar studies for other major companies operating in the region".

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=311900

[stolwyk]

Mauritania Update

Media Release
27 January 2006

Baraka confidence in Mauritania.
Baraka Petroleum Limited (ASX: BKP) has received a small number of enquiries from shareholders regarding the recent detention of the former Mauritanian Minister for Energy & Petroleum and certain government officers. Woodside Petroleum Limited and Hardman
Resources Ltd made reference to this matter in their respective announcements to the ASX on 18 January 2006.

In view of these enquiries and possible media speculation Baraka confirms that all agreements concerning its projects and contracts in Mauritania have been approved by the Mauritanian Government, and where applicable passed into law.
Baraka’s Managing Director and CEO, Max de Vietri, this week held meetings in Mauritania with the Minister of Energy & Petroleum, the Minister of Mines & Minerals, the Minister of Finance, the Chief of Cabinet of the Ministry of Economic Affairs & Development and the Governor of the Reserve Bank of Mauritania.

These scheduled meetings were to introduce new European financial institutions interested in supporting investment in Mauritania, including Baraka’s petroleum.activities.
During these meetings the various government representatives confirmed that the Mauritanian Government is fully committed to the development of a world-class petroleum industry and a sound, reliable and transparent investment environment.

Mr de Vietri and Baraka were also acknowledged for their pioneering efforts in assisting to bring investment to the Mauritanian
petroleum industry. Baraka’s wholly owned subsidiaries, Baraka Mauritanian Ventures Ltd (BMV) and Brimax Petroleum International Ltd (BPI), were awarded three Production Sharing Contracts (PSC’s) by
the Government of Mauritania all of which have been ratified by the Mauritanian Parliament and passed into law.

Two PSC’s held by BMV were farmed out to Woodside Mauritania Pty Ltd a subsidiary of Woodside Petroleum Limited and require Woodside to spend US$18 million to acquire a 75% interest. The Mauritanian Government has formally approved the farm-outs, approval of
Operator and assignment of interest.
The PSC covering Coastal Block 20, held by BPI, has been farmed-out to a subsidiary of China National Petroleum Corporation International (CNPCI) who are required to spend US$8.6 million to acquire a 65% interest.

The new Mauritanian Government Minister gave formal approval for
the farm-out, Operator and assignment of interest in August 2005.
Baraka, Woodside and CNPCI, as Operators of the joint ventures in Mauritania are in regular contact with the Department of Energy and Petroleum and other Government agencies in Mauritania. Baraka’s rights, obligations and activities are unaffected by the recent reported events.
ENDS

[stolwyk]

Second Quarter Activities & Cashflow Report

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=312863

On Dec 31, 2005:
Outflow: 2.75 mill

Cash: 8.95 mill

[stolwyk]

Commences Mali Airborne Survey

http://stocknessmonster.com/news-item?S=BKP&E=ASX&N=313752

[burtsboy]

Down sharply to 19.5c after annonuncing capital raising and drilling expected to commence in a few months. Is this time to get aboard?

[Packersoldkidney]

Burtsboy: to answer your question. Yes, most definitely.

[Drunk_Russian]

From the commsec website:
"
The issue of 60,000,000 New Shares at an issue price of $0.20 per Share, to raise $12,000,000, with one free New Option attaching to every two New Shares exercisable at $0.25 by 30 September 2008 (the Offer). Commonwealth Securities Limited has underwritten the issue of 50,000,000 New Shares and 25,000,000 attaching New Options for a total of $10,000,000 with 10,000,000 New Shares and 5,000,000 attaching New Options not being underwritten and made available to existing Shareholders of Baraka on a priority basis.
"


I'm considering getting in through the latest capital raisng but not sure what sort of value the market is likely to place on the attached options.

Any thoughts on whether a buy at 18 or 19c on the existing shares would be better value than 20c with options for the capital raising.

Im guessing the latter.

[Drunk_Russian]

Well, I took the plunge and put a few lazy dollars in the latest offering.
3 days in, and the share price is sitting at 22-23c and options closed today on their first day trading at about 8cps. Nice unrealised return of about 30%. Plenty of upside in the short term before the Heron drilling results come out in a about 90 days or so.

[Crypto Crude]

BKP could be an interesting stock...
This is very high risk, but Baraka does have connections to Central Petroleum within he Georgina Basin, which does have leveraged upside...
and CTP has run hard lately which could make BKP more noticed in time...
currently trading at .7c...
I tipped this in the HC monthly comp...
any thoughts?
DYOR...
:cool:
.^sc

[STRAT]

any thoughts?
DYOR...
:cool:
.^scHi Shrewdy
In a week ago
See Trades make the call thread. Bought on increased volume and looked closer at it later :eek:
I think the only connection to CTP is that they are neigbours. Close neigbours :D
Announced today they are getting on with it. Im hoping some of that excitement around CTP will rub off.
Ive been watching the depth all week just in case it turns soft. Still in. Its some what exciting that you have taken an interest. Id love to know what you think. Might turn out to be more than entertainment after all

[kerryo]

BKP currently hitting .009 on turnover of 290M .... any of you guys still here?:eek::D

[Footsie]

Odd to think that the guy who started this thread is dead.

RIP Stolwyk

[STRAT]

BKP currently hitting .009 on turnover of 290M .... any of you guys still here?:eek::DHi Kerryo
Yup still in. :D

has never looking like breaking support at 0.5

[STRAT]

Some action today on this old chestnut. Wonder whats up?

[STRAT]

63 million turnover yesterday. 106 million so far today.

Might have to go over to HC to see what the BS, oops I mean goss is.

[STRAT]

and down it comes. Will be interesting to see how the rest of the day pans out.

[STRAT]

Well it held and it looks like another high volume day on the way.
Lots of traders on this. Will probably fall off at the end of the day being the weekend and all

[STRAT]

Anyone else watching this? Looks to me like the buyers from the last few days are feeding it back in at 0.5. Will be interesting to see if the supply at 0.5 runs out or not

[Oiler]

Anyone else watching this? Looks to me like the buyers from the last few days are feeding it back in at 0.5. Will be interesting to see if the supply at 0.5 runs out or not

Are you still following this one? Looks interesting, with there shale gas plays in the Northern Territory. Maybe time to buy in?? Wadya reckon STRAT :cool:

[STRAT]

Hi G.
This one was covered from my perspective at least on the Breakouts thread.
I still hold 1/3 at just under half a cent. Still a BESBS play with a few months to go. Dont know a lot about the prospectiveness of the drill or the quality of management but I reckon its good for one more run.
I wouldnt be brave enough to buy at these prices though.

It really is a classic penny dreadful.

[STRAT]

Well G.
Its swimming against the tide today :D

[Oiler]

Well G.
Its swimming against the tide today :D

It sure did STRAT and held up well.

Very pleased with my 1.8c buy in. Now the trick will be when to sell. My 'funnymental" technical analysis got me in, so lets hope it can get me out.

G

[STRAT]

It sure did STRAT and held up well.

Very pleased with my 1.8c buy in. Now the trick will be when to sell. My 'funnymental" technical analysis got me in, so lets hope it can get me out.

GJuly......ish? :D

[STRAT]

Well its July. G.

Notice received. Theyve had it for an hour and sill not up. No trading yet. Slight build up in buy depth.

How do the funnymentals stack up? G.
Care to lay some odds on a successful drill?

[Oiler]

Well its July. G.

Notice received. Theyve had it for an hour and sill not up. No trading yet. Slight build up in buy depth.

How do the funnymentals stack up? G.
Care to lay some odds on a successful drill?

STRAT you know me, am not a gambling man :D

Funny mentally the odds get better by the day. The rig is finally mobilised so thats a plus, given that we were suposed to be drilling months ago. Plus we also have the fraccing team lined up and we are not going to get confused with the CSG debacle. Gasland :mad ;: My money is still on the line.

For you traders this has been a dream stock ....... let the good times roll. :t_up:

G

[STRAT]

STRAT you know me, am not a gambling man :D

Funny mentally the odds get better by the day. The rig is finally mobilised so thats a plus, given that we were suposed to be drilling months ago. Plus we also have the fraccing team lined up and we are not going to get confused with the CSG debacle. Gasland :mad ;: My money is still on the line.

For you traders this has been a dream stock ....... let the good times roll. :t_up:

GThats a bit exciting. G.

and here I was thinking this was just another penny dreadful. Perhaps I should have hung onto the other 2/3 after all.

So you reckon youre not a gambling man?http://www.aussiestockforums.com/forums/images/smilies/dunno.gif

You own stocks. Oil stocks to boot and you spend way too much time in aeroplanes.

Theres a little bit of gambler in you my friend :p

[skeet]

Picked up a small parcel @ 2c a few weeks ago, things going a little slow but still very positive on paper.

[yabster]

bit of a volume spike and a general upward movement in the share price.

[STRAT]

bit of a volume spike and a general upward movement in the share price.Not unexpected Yabster.
Next month we find out whats in the ground. The big question is what is in the ground.
Sell into the drill or cross fingers and hope they strike big. Ive always planned to sell my last 1/3 into the drill but now Oiler is on this Im wondering if the odds are better than I originally thought but im not keen on throwing a 4 bagger away on a punt.

How about it G? You a Gamblin man or what? :D

[Oiler]

Not unexpected Yabster.
Next month we find out whats in the ground. The big question is what is in the ground.
Sell into the drill or cross fingers and hope they strike big. Ive always planned to sell my last 1/3 into the drill but now Oiler is on this Im wondering if the odds are better than I originally thought but im not keen on throwing a 4 bagger away on a punt.

How about it G? You a Gamblin man or what? :D

Me a gamblin man ;) maybe.

BKP do have a good story but, with so much scrip its hard to say how far the price will go. I did sell some yesterday to take some profit. The rest I will let ride for a while.

[STRAT]

Me a gamblin man ;) maybe.

BKP do have a good story but, with so much scrip its hard to say how far the price will go. I did sell some yesterday to take some profit. The rest I will let ride for a while.Heres a picture for you G
Looks like BKP is bouncing along in a trading range to me.
I/We are waiting for a serious break above 2.5c or 1.7c to the down side.

[skeet]

Bought a few more at 1.5c today

[skeet]

Anyone still in? Trading halt at present regarding results from a DST and update on the drilling program in the Georgina basin. Cant quite figure it all out as we havent started the horizontal drilling yet, might be a bonus find on the way down?

Also talk of a coal acquisition in Indonesia:
http://www.theindonesiatoday.com/mining/baraka-opens-talks-for-indonesian-coal-acquisition-jv

Not sure about this as we only have about $5million in the bank and wouldn't like to see a capital raising etc till we get Georgina sorted. Seen many companies have too many fingers in too many pies, makes me jump ship very quickly!

[STRAT]

Hi Skeet.
I still have a few. Looks like will have to wait till next year which the punters dont seem happy about but a pretty positive announcement I thought.

[skeet]

Happy with the ann, may even pick up a few more before Christmas. Can understand those who want out, but this delay was expected.

[soulman]

Taking a stake at 1 cents today for a gamble.

[Crypto Crude]

hey soul
just started looking at BKP,
looks interesting, but not sure yet...


please give me a wrap up on what you think...
:cool:
.^sc

[soulman]

Hey SC, how your poker game going? Will try last minute to qualify for the Aussie Millions Main Event next week. I am from Western Australia.

I bought because of buyers demand and the fact it could rebound to at least 1.3 to 1.4 in the near future. With cash above $4 mil, I don't see the risk of cap raising either, hence the punt.

If you know my style, I don't really hang around stocks that often. I see that DLS has surge lately on the back of shale gas. Just noticed it today.

[Crypto Crude]

hey soul man,

Sounds exciting for you... me too... just had my best week ever in o8...
aussie millions sounds fun... utututut...
keep in touch on that, message me sometime...

Just caught up with strat,
flew up to Auckland chilling internet cafe catching up on a few loose ends... thinking what to do cos I want to buy something...
something nice and juicy...

strat creamed it on BKP, and im thinking of a small punt on something,
he might have something better for me to research... YEAH, DLS interesting...
lots of things happening,
better go out and party with my friends... chao...
take care
:cool:
.^sc

[Crypto Crude]

im drinking twice as much tonight... Im drinking oilers share...
:cool:
.^sc

[soulman]

Well, I sold BKP for BE.

Your last few sentence rings true SC. The world is in an uncertain place where more poor people dominates the rich due to the pyramid population growth. A civil unrest we see in EU, US, Egypt could soon spread to more country as inequality widens.

"lots of things happening,
better go out and party with my friends"

Although don't party too hard. Party responsibly......Sorry for being a party pooper.

PS: Poker has becoming harder to win. Players are getting smarter.

[skeet]

im drinking twice as much tonight... Im drinking oilers share...
:cool:
.^sc

Would have to have been a vino then? ;)

Picked up a nice bunch today at 1c, Ive now bought in at 2.2c 1.5c and now 1c I don't want to have to go any lower!

[soulman]

You might have picked mine Skeet.

[skeet]

Maybe I did, will see who is the smarter trader in 12 months ;)

Investor Presentation out today if anyone is keen to look at a cheap buy that has the goods to be a oil producer in 2012:
http://www.barakaenergy.com.au/pdfs/2011-11-30-031234pfc-_investor_presentation_november_2011.pdf

[soulman]

Yes, we shall see Skeet.

BTW SC, I did qualify for the $1,100 entry into the Aussie Million main event starting this Fri.

[soulman]

Off topic. Easy come, easy go. I am out Day 1a. What a way to lose $1,100.

[skeet]

Bkp had a couple big orders go thru late today. Might be one to watch over th next couple days.

[STRAT]

Bkp had a couple big orders go thru late today. Might be one to watch over th next couple days.
Waiting on the final whack out of this one too. CRJ got a lift today as well.

BKP has always been a technical punt for me but Oiler ( Graeme ) thought more of it and bought a lump at 1.8c last year.

[skeet]

Got a couple buys in on this one afta oiler gave me the heads up on it. Bought about 2c and 1c, still got a long way to go this year.

[upside_umop]

I remember G talking about these - big potential.

I'd watch the big brother "Petrofrontier" for the lead if this is serious, much like BRU is big BRUther for NSE.

http://chart.finance.yahoo.com/z?s=PFC.V&t=1y&q=l&l=on&z=l&c=BKP.AX&a=v&p=s&lang=en-US&region=US

[skeet]

Dump had to happen, but the speeding ticket ann from th company looks positive re th JV.

[skeet]

I think my patience with this stock is about to pay off...
4169

http://www.petrofrontier.com/index.php?page=photos&op=view&id=14

[Crypto Crude]

what you got there skeet... some vegemite...

go BKP, wish I could own them all

:cool:
.^sc

[skeet]

Now if it was marmite...... :D

Check out Statoil involvement up here in the Georgina Basin, injecting up to $200 million over the next 4 years

[STRAT]

Now if it was marmite...... :D

Check out Statoil involvement up here in the Georgina Basin, injecting up to $200 million over the next 4 yearsI hate to admit it but Vegemite does taste better :D

Hope you are right skeet. I still have some too. Hung onto some mainly because of Graeme

[skeet]

Looks like we will have to hold on a little longer, although if you read between the lines there is positives (they have found oil :P).
I have no capital but if I did I would look at topping up on monday... PFC dropped 42% on friday in Canada...


CALGARY , Oct. 12, 2012 /CNW/ - (PFC.V) - PetroFrontier Corp. ("PetroFrontier") is pleased to provide an operational update regarding its current well completion operations in the Southern Georgina Basin, Northern Territory, Australia .

Owen-3H
A successful hydraulic stimulation was performed on the Owen-3H well over ten open-hole stages. PetroFrontier is very encouraged by the low fluid injection pressures and high injection rates evident during the stimulation. Log data and core samples have been obtained and appear positive, confirming the existence of oil in the Lower Arthur Creek and Thorntonia Carbonate Formations.
PetroFrontier is now preparing to conduct an extended flow-test of the Owen-3H well prior to the wet season. PetroFrontier and its joint venture partner (Statoil Australia Oil & Gas AS) are encouraged by these early stage results and look forward to flow-testing this well. This data will be used to guide the 2013 capital program as it supports the potential for oil recovery in PetroFrontier's unconventional acreage.

MacIntyre-2H
A successful hydraulic stimulation was performed on the MacIntyre-2H well over nine open-hole stages. However, after recovering approximately one-third of the hydraulic stimulation fluid, traces of biogenic hydrogen sulfide gas, produced from naturally occurring organisms in the completion fluid, were detected and the well had to be suspended. PetroFrontier is actively sourcing the specialized equipment to allow flow-testing to resume.
Based on the experience at the MacIntyre-2H well, additional treatment of the completion fluid was performed prior to stimulation operations at the Owen-3H and Baldwin-2Hst1 wells to avoid a reoccurrence of this problem.

Baldwin-2Hst1
During the hydraulic stimulation program of the Baldwin-2Hst1 well, a shallow casing failure occurred and as a result, PetroFrontier was unable to complete the program. As expected, the multiple casing design protected the shallow aquifers. PetroFrontier plans to carry out remedial work to repair this well so that the planned hydraulic stimulation program can be completed.
As a result of these unforeseen operational delays at MacIntyre-2H and Baldwin-2Hst1, test results on these wells are not likely until 2013, depending on regulatory approvals, weather and the availability of required equipment and services.

The operations referred to above are "firsts" in the Northern Territory, Australia and are critically important operations for PetroFrontier. PetroFrontier (in conjunction with its partners, Statoil Australia Oil & Gas AS and Baraka Energy & Resources Limited) intends to continue assessing the most efficient and cost effective way to explore and develop its unconventional resource potential in the Southern Georgina Basin

http://finance.yahoo.com/news/petrofrontier-corp-provides-operational-131200971.html

[upside_umop]

Ouch, didn't see that coming Steve. But then again, I don't think anyone did....
Will be interesting to watch.

Disc: Don't hold.

[skeet]

Its not ideally but I guess the fundamentals of the stock haven't actually changed. It is a long term hold but I did have ideas about getting out on these drill results, may have to hold them for another wet season!

[skeet]

Trading Halt should be lifted tomorrow. Statoil to take over as operator on 1st Sept from PFC who have done diddly squat lately. Plan to spend $50 million through 2014 to complete more seismic surveys and drill up to six wells. May be one of the few O&G stocks to weather the storm on the ASX. Will continuing holding.

[yabster]

bit of movement today. 2D survey and Statoil taking over should propel this hopefully.

Article on BKP - I like the $8m mc vs acreage valuation (based on what Total paid to get into the basin) of $74m.

http://www.barakaenergy.com.au/pdfs/2013-09-06-073828Territory_Focus__-_Baraka_-_high_res.pdf