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Re: BKP - Baraka Petroleum

Hi Beatle,

I guess we shall see.
I believe that management are doing their best (although they are pushing the boundaries at times.)

From my sources, drilling should be in March (hoping that the 1st well of the 4 drill program might start in February). The JV is hopeful of a rig contract within 14 days. The Canadians hope to have the finances raised and finished by end of first week of Dec. at the latest. My scenario is the following:

To keep SP up, we will get an announcement on confirmed $$$$ raised, a rig booked and a Ryder-Scott Report. My guess is that the Ryder-Scott would be released last, the petrol to throw on the fires lit by the secured funding and rig. My sources also tell me that the Ryder-Scott report is finished but not being released by non-asx JV. If I am wrong, why would they have decided to drill a horizontal drill and know that the potential reserves are worth the effort???? Anyway, I'm OK with the stage managed process as it keeps the SP up.

Good times ahead...

<blockquote data-quote="BESBS Player" data-source="post: 591818" data-attributes="member: 20934">Re: BKP - Baraka PetroleumHi Beatle,I guess we shall see.I believe that management are doing their best (although they are pushing the boundaries at times.)From my sources, drilling should be in March (hoping that the 1st well of the 4 drill program might start in February). The JV is hopeful of a rig contract within 14 days. The Canadians hope to have the finances raised and finished by end of first week of Dec. at the latest. My scenario is the following:To keep SP up, we will get an announcement on confirmed $$$$ raised, a rig booked and a Ryder-Scott Report. My guess is that the Ryder-Scott would be released last, the petrol to throw on the fires lit by the secured funding and rig. My sources also tell me that the Ryder-Scott report is finished but not being released by non-asx JV. If I am wrong, why would they have decided to drill a horizontal drill and know that the potential reserves are worth the effort???? Anyway, I&#039;m OK with the stage managed process as it keeps the SP up.Good times ahead...</blockquote>

[QUOTE="BESBS Player, post: 591818, member: 20934"] [b]Re: BKP - Baraka Petroleum[/b] Hi Beatle, I guess we shall see. I believe that management are doing their best (although they are pushing the boundaries at times.) From my sources, drilling should be in March (hoping that the 1st well of the 4 drill program might start in February). The JV is hopeful of a rig contract within 14 days. The Canadians hope to have the finances raised and finished by end of first week of Dec. at the latest. My scenario is the following: To keep SP up, we will get an announcement on confirmed $$$$ raised, a rig booked and a Ryder-Scott Report. My guess is that the Ryder-Scott would be released last, the petrol to throw on the fires lit by the secured funding and rig. My sources also tell me that the Ryder-Scott report is finished but not being released by non-asx JV. If I am wrong, why would they have decided to drill a horizontal drill and know that the potential reserves are worth the effort???? Anyway, I'm OK with the stage managed process as it keeps the SP up. Good times ahead... [/QUOTE]

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