I think PFC and BKP have to announce that there could be a delay to operations because of what happened earier this year. After last summers run of bad luck it makes sense and an announcement like that does give any investors fair warning that all may not go to plan. Other points to ponder on the positive side are that the roads (Sandover and Plenty) were not damaged and flooded until the start of February. The BOM does predict no rain in the area for the next week and even the long range forcast is only a prediction of a 65% chance of higher than average rain fall. The frac crews are on standby for the completion of the second well. I have no idea of the amount of equipment needed to be trucked in or it's location but I would be guessing that Packers would be more than keen to make a start on the wells. Not only because if they are fraccing they are making money and keeping their boys in work but if they are succesful I would be sure that they will be establishing a base in Alice with a long term lease. A few weeks before the roads were cut off in the NT the drill rig was stuck in Brisbane back then in a flooded compound. Now the rigs are on site, have been modified for the area and seem to be working fine. The Baldwin horizontal did have a hiccup when it encountered the fault but that didn't take long to rectify and the Mac horizontal is a lot thicker in the payzone compared to Baldwins. Plenty of info on PFC and BKP's site on how the oil and gas will be transfered from site (if it happens). Lastly if the excitement of the ups and down worry you too much then I would suggest that you stick with CCL or similar stocks.
BKP Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
