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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

Almost sure to breakout as results of Monterey well get closer. Still awaiting results of production from ARCE but I think they will not release them till Monterey results come through. Gas was found at Monterey in 1989 by Arco so gas should be found but question is whather it is commercial or not. An exciting couple of weeks ahead for BLR.

Very tempting to buy more, the Oct '05 WH Ireland report had a target price of 3p. ARCE 2-4 Steam Testing was pushed back to Dec when we can expect results.

WH Ireland had a price target of 13p if I remember correctly. I believe they are steam testing now but it will take six months before it is 100% efficient but they are producing at the moment I believe.

I have just checked the WH Ireland report - the price target was 3p, but at that point in time there were 367 million shares in issue. There are now at least 705,955,522.

Means price target about 1.55p?

This will go in the right direction, of that I have no doubt, but may require patience.

IMO/DYOR.

I have also just checked the WH Ireland broker report on BLR website and on page 8 they say that 13p would be a fair value although I will admit they have had a bit of dillution since then.

According to poster on iii. He received a newsletter on Tuesday saying the rig was at TD on Monterey. Should be news very soon.

Ruthers,

Good news re post 779 (well, it is if they find commercial gas!!)

Post 778: call it 6.5p target, then? That's still more than a 4-bagger for me (and I pointed out months ago that I was budgeting for dilution anyway, so am not at all fazed by this). Note though that WHI is the house broker and that the estimates were made in more optimistic times. Not that that puts me off, but some of the ecstasy has gone out of the oilers, to say the least. Will double-check the WHI report when I get a mo.

PS, who is this chap on iii? I'm on BLR's e-mail updates list and haven't heard a dickie-bird since the director appointment at the end of October.

Rockbottom post on iii.

This can be found in Carrizo results released 9th NOV. Looks like very good news as they would not run production casing if not confident of flow results.



"The Wintershall operated well in the southern North Sea has been logged and
production casing set. Flow testing will begin immediately."

Here it is: http://sev.prnewswire.com/oil-energy/20061109/DATH01009112006-1.html

Ruthers, MM: Good posts, thanks.

Should be interesting Monday.

Doubt if we will see an rns from BLR on Monday so a good chance to top up again although I think price will be a bit higher than where we are now.

Wintershall will be pulling all the strings as operator and to them it is just another well but to BLR it is a company maker. Carrizo had nothing else in the AGM statement so not making a big thing of it but probably very confident to include it in the AGM statement.

The first well by ARCO was a vertical well but the well being drilled by BLR is a deviated well so will hit more of the pay Zone. Carrizo did a lot of seismic over this area and Wintershall thought enough of it to buy into the field from Carrizo leaving Carrizo with 25% and BLR 15%. With the well in good condition which it must be after running production liner we could have some good flow rates here.
Looking forward to results!

Looking forward to a rise to 3p +

Well this is a nice start to a Monday. Hope we get some real positive figures to make this rise considerably higher.

Yes, let's hope so..

Morning all,

Very satisfactory this morning - hope the North Sea delivers the goods!