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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

Back in this morning in a small way.

Looks good, I guess....things are progressing along okish... if a bit delayed.....once they start actually getting production/flow through then we should really see a take-off in the sp?

Morning all.

Welcome back, Seawall.

This is good news, albeit that the production schedule has slipped slightly - we were originally hoping that Arce would be in production this calendar year.

The funding, however, is very good news, and clearly reflects a high level of confidence in Monterey's ability to produce the goods. It may be too early to expect that it'll be a smooth upward ride from here, but for those of us who are in for the medium to long term, it's looking very encouraging.

Happy with my overweight holding at 1.5p average.

Good luck to all.

all IMO, PDYOR.

seawall,
was that you in at 1.4 or 1.35[listed as a sell] if you dont mind a personal question, that is
have set a sell limit of 1.35 but dont know how realistic[def not if it was a buy]
Alex

get on now or you will miss this low price the only way is up.

par for the course ! the sp is going back down! it's going to be all over the place !

robert - sorry went out for a while.

I would suggest all the trades are buys today.

Mine was at 1.4 per share.

I suspect this time next year the sp today wont matter a bit, all imo etc.

I can wait for this stock but then I have only invested peanuts.

Seawall, I agree that things should look very different a year from now. Monterey seems to be very positive - I assume that the actual rate of production will be far higher than that on past tests, or at least I hope so.

It will be nice finally to get some positive cashflow!

soul - this is one I have been tracking for a while.

The outlook fits the criteria I look for in every way.

Now is the time to be deciding what I am doing with it, and I will increase my holding at certain stages of development as they are achieved.

That suits me.

Sounds wise, Seawall.

I too have been following for a while - got about 400-worth when it was around 2.2p a couple of years ago and have since added a lot more at around 1.3 - 1.5p.

Rightly or wrongly I decided to hit this one big early on, hence my overweight holding, as I have been pursuing the logic that the most explosive growth potential would come early on and while the SP was languishing. Only time and the drillbit will tell.

Soul
i don't blame you for being overweight and it is true that the north sea asset is where every eagle eyes investor is looking at. I like BLR and i think there is something highly attractive about it and that's the north sea. One smart decision was the secure funding in place without dilution at this stage and now let wait and see. Fish can fly. best luck

another few months won't hurt been holding for 3 years, so looking forward to 2007. which will coincide with my retirement. :-))

ALDOR3
is it partime retirement or fulltime? anyway, happy retirement when it comes.

Afternoon, georgetrio hows things with you : )

So did I read correctly that the Gemini finance was a straight loan with interest, and there is no deal to hand over any fixed percentage of turnover/profit for any defined period? Of course he (Ivan) still didn't tell us what the interest rate was.
Price currently 1.10/1.40 so apart form the blip this morning no giant leaps forward.

Guess everyone wants to see production flows first...I reckon though that the sp will gradually rise over the coming months with all the speculation and there will be good write ups coming thru as a result of today's rns... can't understand why people are still selling

skyhigh

I tend to agree with you , just sit and wait : )

The two extra drill holes as well as oil flowing in 2006 just needs a tabloid story.

"just needs a tabloid story." ????

Such as "Red London Bus found at bottom of Colombian oil well" ???? :o)

IMO the sp will rise steadily over the coming months. I'm glad I topped up at 1.12p. The only way is up now!