Hi all,Here is a summary of BKP's current position:$1.88M Cash...

Hi all,

Here is a summary of BKP's current position:

$1.88M Cash at Bank as at 31 December 2009.

Cash burn for Admin is about $250k per 6 months.

So from now until 31 December 2010 they will burn say $380k, leaving them about $1.5M (that's a lot of cash :)).

No need to raise more money.

Farmout will speed up the exploration of the permits.

AEC to fund all of the "exploration obligations up to completion of a well in each of EP127 and EP128 to earn 50% interest in both permits.

Excludes the Elkedra-7 well and surrounding area for which BKP "will retain all rights to hydrocarbons in the approximate 75km2 area surrounding the Elkedra-7 well, where previous drilling has indicated oil shows."

Resource evaluation for both permits expected by mid-2010 (within 4 months).

Drilling of EP127/EP128 to start in December 2010, at the latest.

BKP to "continue to explore the 75% controlled Elkedra-7 area" and to look at "further opportunities in the oil and gas sector" while experienced AEC take care of EP127 & EP128 which are in the highly prospective and under-explored Georgina Basin.

Keep in mind that four and a half months ago BKP raced from 0.004c to 0.009c very quickly.

Can't wait for the resource estimates of EP127 & EP128 in a few months time, but knows we might get a surprise acquisition/other positive news, or the resource estimates themselves before then. :)

Good luck and looking forward to seeing you all out of the points and in the cents!!! :)