long winding road

I become aware of what could be a very significant development today. 12 or so months ago I had been a SH of BKP but I sold out with a nice profit thinking I would buy back lower. They did go much lower but I didn't buy back and I have ignored them, until today when I read through some of their old announcements and today's of course.

Their leases are several hundred km's north of CTP in the Georgina basin. Now the reason this is significant to CTP is that a Canadian outfit has bought into 75% of BKP's leases (BKP has a free carry) and is excited about the billions of barrels of oil that could lay within these leases. The Canadians seem to be held in high regard and are doing a back door listing and raising many millions of dollars above their original target.

If I understand this correctly they are expecting to drill fairly soon. They are planning to do some horizontal drilling and expect to have to fracc everything. This is big and great news as it could mean a better quality rig and crews in the region and the best of all the prospect of the latest North American fraccing equipment and skills will be close at hand.

The time is perfect as CTP is 6 months away from being ready to do any fraccing, and I was wondering how and where they would find this equipment.

The other interesting prospect with this turn of events is if these guys are as good as claimed and are successful, eg. good oil flows then CTP will benefit from the nearology and the large acerage of fraccable petroliferous leases under its control. No cost advertising.

Saltbus

ps. On todays CTP announcement there seems to be plenty of posters so I won't add to the cacophony.