Given it will not be until 2009 before drilling, this news should have little if no impact. IMHO.
It is good to see that there is a gas/condensate discovery in the block (however, no details issued with the announcement, which I would have preferred, on when the discovery was made, size of the reserves etc etc). This adds some sizzle to the farmin. IMHO.
I am still banking on a good Dec 2008 quarter given TAPIS remains in the high US$90s and with the A$/US$ exchange rate falling, bringing in more A$ sales revenues each day.
Would like Anzon (as Operator of BMG) to issue another update on the flow rates from BMG this week, but will not hold my breath waiting.
Finally, given the continuing turmoil in the market it is good to see "no fear and capitulation" in the BPT share price this week, probably just some margin call selling forcing the price lower.
Cheers
BPT Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)