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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

SP making a stab at recovery today: BLR Bid: 0.95p Offer: 1.2p Change: 0.075

FWIW I halved my holding at 1p on Monday and put the proceeds into GTL, as a risk-spreading measure. I might not have done so if things in the Colombia JV hadn't turned out to be so iffy, but remain positive about my remaining holding.

Seems BLR and Kappa are now in discussion according to another BB.
Looking for Monterey results in the next few days.
All looking better than last week after the RNS.
Carrizo (partner in Monterey) hit 5 year high tonight on Nasdaq.

Up 16% today !

BLR Bid: 1.1p Offer: 1.3p Change: 0.125

It's Murphy's law, Ruthers - both the stocks I sold over the last few days as a precautionary measure are now going through the roof.

Thanks for your update.

Soul I know what you mean, I was going to buy FOGL at 66p wed morning but changed my mind now look , Sod's Law ! :)

CRZO was up another 3.8%

Smiler, there will be more opportunities with FOGL - after all, they are still a long way from actually finding any oil.

Glad to hear Carrizo is doing the biz - eagerly awaiting Monterey results.

How bad is this result in regards to the company as a hole, does anyone have an opinion?

It's grim !

BLR will be in discussion with Kappa within the next two weeks so hopefully that can be resolved.
Regarding Monterey, it is very disappointing, and the only positive is that it is not plugged and abandoned. Revaluation of the well and possible sidetrack will take months to process and then possibly go back to it.
I am holding for now as not much downside left!

Same here !... there will be good days!

bargin buyers are beginning to come back in..wouldn't mind some more myself!

Will hold for a while to see if it recovers, might give it the chop if I need the cash.

Regaining a bit of ground now:

BLR Bid: 0.8p Offer: 1.2p Change: -0.15

Strange goings on as back up to 1p. Could we see a bid from Kappa now? May be the ideal time from Kappa,s point of view. Any thoughts?

sorry to be a smart arse, but (a) perhaps you guys should ahve followed my advice of a few days ago and (b) having failed to do so then, why so keen to keep beating your head against the wall?

This stock has always been volatile. Didn't know Kappa were likely to bid. If there were to be a bid, it would at least put us all out of our misery. Considering I was convinced in March that this was a sure thing, it's amzing what this stock has put us all through.

Aha, Cynic, that's because we're all so clever and think we know better.

I refuse to trade any more this week as have had a real churn of the portfolio - again! Will come back to it with a clear head on Monday.

learn from the guys who refuse(d) to let go of SEO

soul traders: sadly no such thing as a sure thing in the exploration business, but not a lost cause on Monterey yet. Wintershall are evaluating the well and may sidetrack in the future to drill along the payzone. If there is such a thing as positive news out of all this it is the fact that the well is suspended for now and not a Plug and abandon which would have been worse.
I dont know that Kappa would bid but just a guess as they want on the LSE and maybe an easy route for them if they sort out the differences with BLR or just buy up their shares.