Interest in BOW may pick up soon (having fallen from IPO of 20c to 13c on listing and now trading around 14.5c) with upcoming drilling programme as follows.
Extracted from ASX Announcement 25 May 2005.
1) Pickabooba South-1 targets a 35 PJ potential prospect.. Bow will have an 87.5% interest in the well and surrounding tenement. Drilling June/July.
2) Two wells Gats-1 and Hestia-1 (formerly Vesta) located in the Carnarvon Basin, with potential of up to 33 million barrels and 23 million barrels of recoverable oil respectively, are planned for drilling in the third quarter of 2005. Gats and Hestia are within 8 km of the prolific Stag oilfield operated by Apache Energy. BOW has a 10% interest.
BOW may be in for a little SP increase over the next few weeks. Only 62M shares on issue and $9M market cap. Not a bad little high risk punt at 30% discount to IPO.
Mensa.
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