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Presentation from Thursday 6th July 06 can be seen on oilbarrel !


Monterey appraisal well suspended pending Wintershall evaluation. 1/12/06
BLR and Kappa in dispute.
BLR to meet with Kappa within next two weeks 1/12/06

if he knew the test results he would have ramped it up again..lol..

TW is a muppet, end of..

Whats grim about it??? BLR been on my watchlist for a while but missed the last rise from 1.2p to 1.9p and thought I'd sit and wait. Reading the thread many of you kept topping up at prices much higher than this as they were "buying opportunities". Well, now BLR have more cash to crack on with and you can add again at even lower prices if you truly believe that Colombia and Monterey are company makers.

I've been a BLR share holder for around two years now & i feel more confident now than ever before.

Yeh.. but it's still grim isn't it... I topped up recently at 2p, 1.9p and 1.7p but will top again at these levels !

I see your point, hard to tell today what is buys and sells due to late reporting.
I know you can buy right now for 1.2p though!!

Morning all! Good news re Arce, although it was also strictly speaking in line with expectations. The reserves seem to have been upgraded slightly - if memory serves, 5 million bbl seems to be an improvement on anything I've read before.

Marcel, re: "WHY IS THERE SUCH POOR VOLUME GOING THROUGH FOR SUCH GOOD NEWS?" At the time you posted, the market was barely open (my broker doesn't let me trade before 8:30 at the earliest!). If you look now, you'll find that over 17 million shares have been traded, or over 2% of the company's stock. It's also fair to note that this is a small cap, off the radar of the big market players, so you have to allow for the fact that communication and reaction times regarding the news are much slower than for, say, Vodafone or something. Many PI's won't get to read the RNS until this evening and will trade tomorrow.


Skyhigh, "Perhaps they could've raised the money after this morning's release and got more ?" Unlikely - see the last few lines of my post #423.

Dynamix : "you can see why they released that share issue after hours on friday now.. no good allowing insititutions in at 1.1 after they released this.. there would be some unhappy punters .. " and, "maybe, but they havent... im just saying it sort of explains the wierd timing of it.. as Im sure the placing was in the making before the RNS.. " I'm not sure I follow you here. Companies are more or less obliged to offer placing shares at a discount to the market price - it's a way of getting the institutions on board (after all, would you be persuaded to buy a large chunk of stock if you couldn't get it at a better price than the market rate?). Naturally the placing was planned for a while ahead of the RNS, as it takes time for the house broker to go out to likely subscribers, assess the uptake and arrange for the shares to be registered with the AIM.

The "weird" timing can be easily explained by the fact that actually there is no intended link between the fundraising and the RNS. The fundraising was going to take place anyway. As it happened, the drilling results came through three days later. No conspiracy, just a natural course of events.

As for TW - I have no idea what he's been smoking, but it's clearly affecting his judgment.

Why cant the spreads on BLR always be this good?

a little bee tells me that blr could be 13/15p before the end of 2007.

plm2349..not a little bird?

no a big black and gold bee with red wings.

A big black and gold bee with red wings?

Whos been at the special imagination juice again?

In today, thought I'd missed the chance when it went up to 1.9p after the shares mag tip. This will be volatile but I've read the article again and its worth a flutter from here.

andysmith, go to www.oilbarrel.com and have at look at the Conference Presentations from 6 Jul 06 for BLR and others.

"A big black and gold bee with red wings?" ??!!??!! They're called hornets, aren't they? Not being an apiculturist, I can't judge the value of this particular tip, BUT:

At 13p x 700 mil shares, BLR would have a market cap of 90 mil. These things are certainly possible; the NAV (NPV) of BLR's share in Bukhara could be worth over 80 mil, maybe even 100 mil depending upon the valuation method used, if the oil is commmercial. The North Sea plus other Colombian assets also look good. ("Stop ramping, Soul!" "Oh, if I must . . . !" :o)

Andysmith, there's also loads of info and links on this thread, from about early March onwards.

Happy hunting, everyone!

For all the people complaining about not been given a chance to buy like the instituions well they were on sale for less than the instituions paid yesterday morning! Everyone was free to help themselves at just over 1p a share.
BLR raised the money in the cheapest way possible and as share holders we have to be happy about that.
Did notice that BLR state steaming to increase production 3 or 5 times initial rates where-as they said 5 to 10 times initial rates before. We shall see!
They never mentioned any water so that is a positive point and I am happy to hold long term now as money in place for the near future and plenty of action over the next six months!

soul & silvermede, thanks, I had read all the posts and extracts from this thread and on oilbarrel.com as previously suggested but I didn't buy when it shot up >50%after the magazine tip. When <1.2p appeared again thanks to some profit-taking followed by fund-raising I just needed to remind myself why it was on my watchlist.Its not anymore, its in the portfolio.So far a reasonable thread with good comment both ways, hope it stays that way!!

Welcome Andy and your in at a good price!

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Shareholders,

For your information:


There is an article on Black Rock in today's Guardian on page 30


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austin2253, you might want to edit post 472, as you just gave out your personal details, address, e-mail etc!!! :-)

I am obliged to you silvermede...