This is an extract from Note 10 to the financial statements for...

This is an extract from Note 10 to the financial statements for 2013.

Loans to unrelated entities –
secured 392,208

This is comment made regarding events after reporting date

Events after the Reporting Date on page 9 of the financials.

The Company has, after a series of defaults and breaches under its secured loan agreement announced in July
2013, taken steps to further secure the investment funds and outstanding interest made to an unrelated party,
and appointed an Administrator to protect the Company’s and shareholders’ interests. The Board is hopeful
that this will result in a positive outcome for all parties when a number of issues are resolved.

Further to this there are a substantial amount of funds tied up in unsecured loans as can be seen in note 10 of the financials

Loans to unrelated entities –
unsecured 2,045,000

I believe these funds are key to BKP meeting its finacial requirements in the coming year (for drilling and exploration), and hopefully the unsecured amounts dont encounter the same issues as the secured amounts regarding recovery of funds.

All and all the report seems to rehashing old information regarding exploration time frames.

One interesting thing also is that CITI Group no holds 5% of BKP as can be seen from the top 20 list.

This is all in my own opinion please do your own reaserch. GLTA