Call me cynical if you like but I reckon it was very lucky that they had the opportunity to call a trading halt and then blame it on West Africa.
That little piece of luck seems to have given them a bit of breathing room before they are forced to make any announcements regarding their Colombian assets.
If I recall correctly the weekend issue of OGW indicated (or maybe hinted is a better description) that the Colombians might have already issued a default notice. Next step would be to sieze assets in satisfaction of outstanding debts and then maybe sue them just for the fun of it.
What sort of odds do you think would be appropriate to back on this one ever trading again (at least in any recognisable form) and within the next few months. I don't think there is more than about a 10% chance.
I reckon an email to the company about now might just be warranted. If you email to First Initial, full stop, Surname @barakapetroleum.com you might just be lucky enough to get someone to tell you what is really going on - but I doubt it. Oh, by the way there is no need to add titles such as Dr to the email address.
By the way. I suppose there is some possibility that there is actually something going on in West Africa that warrants a TH, but on the down side, any potential buyer would know exactly what Baraka's situation was and realise that they could get these assets for next to nothing (or simply wait a few weeks and buy them from the administrator at fire sale prices).
I hope I'm wrong and this is back trading on Wednesday having made some deal over West African assets that allows them to continue operating in Colombia but I don't have a good feeling about what's going on. Good luck with this one.
Cheers
Badfish
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