Tend to agree with Robjb5's assessment.A few things. Firstly -...

Tend to agree with Robjb5's assessment.

A few things.

Firstly
- is best to not over react to these things immediately before putting things back in context. This is my prelim thinking.

Secondly
-the title of their release.. 'Baraka Disputes Statoil 2014 Work Program' was a mistake - because it will in and of itself hit the share price prior to anybody analysing it.

If you are given an unpleasant sandwich to eat, smile make the best you can of it and promote the positive aspects that exist whilst noting what it is not what you would have preferred. AND the release of this nature in this manner hardly does a favour to those who just joined the CR. There was strong disappointment, but as management it is always your job to make the best fist of whatever is served up to you. Unless it is you intention to engage in a court battle, then best smile and support the SP.

The title of the release should have been different and focus different, whilst relaying the same information. Even stating (if they intend) that they will seek to have some 'minor' amendments made to it. Rather than be combative.

Thirdly - as it turned out the CR prior to this announcement was a good thing then. BKP got some extra money to keep them going for a fair while longer, depending on their plan. As far as I can tell they should have around $3.1m

Fourthly - BKP was always hanging mostly on any commercial type find in any of the areas..as that would directly support the its SP and create further opportunity for it. AND OR significant supporting evidence to the Ryder Report thus increasing the value of its participation. So this announcement isn't as negative as first reaction. As the same dynamics remain in play...i.e. if Satoil get big oil flow, or evidence of commercial oil anywhere.....

Fifthly - the reality is BKP is the minow and without the benefit of highly experienced and connected oil men running the company they were always without much bargaining power...unless they have other big players ready on tap.

So what does BKP do now.
Thanks to the CR it has enough money to sit around and wait for Statoil to 'strike it' somewhere or do something that materially increases BKP's worth. (I don't know what what capital requirements BKP have for the year)
OR do they decide to take a large part of the $3m and do a drill of the conventional oil prospect of their own? There a big risks in that of course.

I am of the opinion BKP sit tight, if they are allowed, preserve money and let Statoil's work and data improve or not their prospects.

OR they could look for a partner for its 75% share and try testing the conventional oils prospect.

Still early days of the announcement...and still haven't made up my mind of how things sit.


Sixthly - this is a spec stock. You pays your money you take your chances. To others it was a trading volatility stock.

I have it as a hold subject to more thought. Only because I don't management is playing this game right.