history of bkp, page-2

hemphill,

That's definitely interesting, but what you quoted does not provide an awful lot of context. It sounds like you have experience with BKP from their African venture by the tone of your messages; would you care to sketch out the details of what happened with that venture at the time?

I catch your drift about the names there being mainly accountants, but in that sense I take comfort in the knowledge that they have a Canadian partner bringing the technical know-how and skills to the table. The fact that this partner managed to raise $50m without breaking a sweat (there was more money on the table that they didn't take up) for this opportunity in Australia tells me there is also the required money available.

The only 'serious' risk in this venture is if the reality in the ground does not pan out as commercially viable oil; in that context the Ryder Scott report puts a 22% risk figure on the venture, but even calculating this risk into the potential value upon success means the current SP is well below speculative value.