Ranger, I dont follow your thinking. At what point post-heron was this company ever going to do any drilling in Africa in the medium term? They tried to hit a home run with heron and struck out.
Their error isnt that they are _now_ concentrating on the small stuff, its that they werent concentrating on the small stuff _early enough_. They had no backup plan to heron. Perhaps Max really thought he was 'blessed'. Lets hope the lesson has been learned. Max is a big picture man. Now the company does need the small details man to hold the reigns for a while, so the big picture has a chance of coming to fruition.
If you bought into BKP on the back of herron alone and you still hold, then too bad, you stuffed up. If you bought into BKP with a 5 year timeframe on the back of a major strike in africa, then no worries, nothing significant has changed except that more surveys have been flown and we are a year closer to the big picture being completed.
Whilst these boring and lengthy but entirely necessary surveys are being done of the gigantic area that Baraka has a stake in, they have two choices - twiddle their thumbs and raise capital every 6-12 months OR try to build what small capital they have into a decent cashflow so they wont have to raise capital in the future.
Which makes more sense to you? Selling out now makes no sense, as their plan to generate cashflow is happeneing in the short term. You should have sold out immediately post heron, or not at all.
BKP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
