possible run, page-15

G'day all,

Nice to finally get an announcement out on the ASX by management.

Positives as I see it:

1. EP 127 will have a very large potential target once the Ryder-Scott report is published by BKP.
2. The horizontal drill and fraccing should greatly increase the chance of success if there is black-gold present.
3. BKP offers huge SP leverege to success.
4. Drilling shall finally occur in 2011...


Negatives:
1. The Canadians now need to raise more money than previous. Not an insummountable problem by any stretch but it still must be done.
2. The JV need to organise an appropriate rig for the job
3. Drill delayed...no set date...time can drift.


As an overall package, BKP still looks a winner for a pre-spud run in 2011 for the above (positive) reasons. That said, it won't happen immediately as we hoped.

*******

PS. Thanks for all the affirming feedback guys after I was TOU'd. I do try to make sure that sources are legitimate.

PSS. Did anyone get the hint in my last post on the re:announcement thread when it was written:

"Canadian company AEC plans four well program in the Georgina in March qtr 2011, including one HORIZONTAL well Macintyre #2 in EP 127 to test for oil in Arthur Creek shale."

Given how long management should have known this, I would not expect any more than drip feeding of information until the JV partners get the funding and rig sorted. Anyway, I'll say no more than BKP have announced.

Cheers,
Kat