Looks like the SSP is now finished - now just a matter of management getting the surplus stock placed. Should not be difficult as there will be plenty of local (and I suspect Canadian) firms having a close look. After all, where else do you find a drilling with the following features:
* elephant target with 4.2billion barrels on the line * Canadian operator already cashed up. Raised $50m with an extra $42 above needs. * operator with the technical background and resources to operate a horizontal drilling (the appropriate technique for this target) * Energy 'virgin' country. If BKP hit black-gold here, the potential in the rest of the prospect for BKP is mind-blowing. * BKP have partly raised funds and one assumes, given a couple of weeks, will have another $9m in cash.
Even if rain delays drilling a little, the basic features of this project remain exactly the same.
I smell exciting times ahead!!!(or is that oil I smell???...same thing!)
BKP Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
