theriseThats OLD news now but agree was a very important...

therise

Thats OLD news now but agree was a very important development.

The most important thing in todays BKP Announcement is that FFC have ..."moved the rig to the second location in the current programme, MacIntyre-2, located in the northeastern corner of EP127, approximately 60km. to the northwest of the Baldwin location".

Still no confirmation of a spud date OR whether the drill repairs/modifications have been completed or will be done at the Mac-2 site.

Cant be that hard to let us know could it?

I am still unclear as to what happens after Mac-2 has been drilled ..."a minimum of 500 metres of horizontal drilling.....". Who is responsible for the cost of further drilling? - assuming that further drilling is justified past 500m. Will this be paid for 100% by BKP? If BKP do not wish to pay, who will benefit from, or own any production, from the well?

Any theories would be welcomed.

I trust that BKP have some of their capital ($7m.?) in reserve for this and have not been too busy chasing big elephants in Indonesia.

Whatever comes of all these questions, we are now very close to some real action for BKP. The European news is also positive, so all appears to be happening at a very opportune time.