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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

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!

Monterey gas well spuds


Friday, September 22, 2006

Drilling has kicked off an exploration well on the UK Southern Gas Basin Monterey prospect.

The Wintershall-operated 49/8c-4 well spudded this week with Noble Drillings Noble Kolskaya rig operating in a water depth of 35 m (114 m) and the drilling programme is expected to take up to 53 days to complete drilling to a total depth of 4,020 m (16,465 ft) and a further 20 days if tested.

Drilling partner Black Rock Oil and Gas revealed Monterey is estimated to contain up to 165 Bcf of gas and the well is designed to appraise the commerciality of the deposit.

Monterey was originally discovered in 1989 with the 49/8-2 well which intersected a 91 m (300 ft) Carboniferous gas column and flowed at 5 MMcf/d on test, despite formation damage. If Monterey it is of a commercially viable size, the reserves could be tapped via either the Windermere gas platform 15 km (9 miles) to east, or via the Schooner and Ketch fields, lying to the south.

Gemini Oil and Gas is part-funding the costs of the well up to $4.27 m (2.4 m) in exchange for a share of Black Rocks future revenue from the field.

Black Rock has 15% interest in UK blocks 49/8c and 49/9d, which are operated by Wintershall.

Friday, September 22, 2006

http://www.offshore247.com/news/article.asp?Id=6008

Well it looks like the shorters had their way on Friday, not a single buy recorded but 1.6M sold short on the news, luckily the guy went home at ten to four having wiped out all my profit. Today he is back buying after an initial short and I guess we will see buying back up to 1.8 or 2M today' hopefully restoring the SP.

What can happen if it gets right in the north sea? Oh yes can be very interesting. i will behave like a hunting cat. focus on the target, admire it, calm every cell in my system, keep the spot on, wait, wait, wait, till in one single leap catch my target. Not easy though. the joy of a hunting cat. patience can pay big. best luck.

Well after buys of almost 3M since 08:11 this morning the price has shot up from 1.14 to err, umm 1.4!!! with only 8 sell transactions the price is obviously being held down artificially.

Yes, grim isn't it !....

Can't help thinking that it's a good time to top up but...I've done that on 4 ocassions and every time it's fallen further! so I'm not going to buy any more and just hope the sp rises over the next couple of months!