looks like theyve hit oil, page-35

Carabaea,

In my opinion, this one is gone. From what you have posted here it is clear to me that your source is generally supplying you with clear and accurate info reflecting the company line, but you might want to check with him how much things have changed since your last email exchange.

My mail says that the funding arrangements that you hinted at yesterday have fallen through and I reckon the promise of these was the only thing stopping the Colombians taking BKP's assets in satisfaction of outstanding cash calls. BKP does not have the cash to meet calls on LP2 and hopes that Mugello might be the saviour are pretty much unfounded - imo just delaying tactics by the company to try to hold off the crisis.

With no cash to retain African assets and little chance that they will survive long enough to make Colombia pay (ie get some cashflow out of LP2) I think we are going to see a further rapid decline in share price and then the vultures will start picking over the corpse - unless administrators are appointed first.

There are still some opportunities available with Baraka, but none of them are available to the current shareholders. In my opinion, someone will come along and pick up the remains for a bargain and the current shareholders will have little choice but to accept a huge dilutionary offer, or wind the whole thing up and walk away with just as little.

I'm not sure whether the next announcement from this company will be a trading halt to advise of administrators being appointed or whether the Mugello P&A announcement will come first.

Not a very pretty picture I'm painting here I know but it is just how I see things happening over the next few weeks. This has already had a big change since Monday morning at which time I was confindent that the funding would come through and the company would survive long enought to get to LP2. It only took a day for this to all fall apart. It could all change for the better just as quickly as it has turned sour but I'm not willing to take that risk.

I'm out at a small loss but will look to buy up a bargain should I think there is a chance for a turn around.

Cheers

Badfish