From that report..."Baraka said in its report for the quarter...

From that report...

"Baraka said in its report for the quarter ended 30 June 2013 that it is continuing efforts obtain consent from PetroFrontier to proceed with exploration on the highly prospective conventional areas of the Hagen Member within EP-127.

It believes that it is now time to seek the necessary additional amendments to the Joint Operating Agreement it requires to pursue this exploration program either on its own or with an appropriate new partner.

The company is hopeful that Statoil will see the benefits of having twin programs running together with their activity on the shale oil/gas areas.

It noted the conventional targets would be within the same Basin and sharing data valuable to both companies and added that Statoil had indicated that it did not see any conflict as its prime objective is the shale oil and gas areas."



Here's hoping that the seismic surveys back up the current resources report and more...

The ultimate dream of course is they drill for conventional oil on BKP's major area in the near term....and it results in some sort of oil flow. The implications for that of course go beyond just that well, but for all the basin.

The SP has already been to 3c on speculation so any real result would see that level smashed....but I wonder how much BKP itself could go on that...

These are long shots for sure...but thank goodness for Statoil joining the party.

This would have to be the classic penny spec stock...a worthwhile risk given the statoil involvement with a very large upside potential...and also the real risk of total failure.

Tempted to buy more...but already have enough millions...and not wise to over expose on a spec no matter how good looking.