Slow Mover

  1. 1,317 Posts.
    Thanks for advice on Kauri 4, my mistake. Understand next BLO wells are Tunisia in October and Bosavi (PNG) in November. Former CEO working on Bayou Choctaw as a priority but it does not look as though drilling will re-start any time soon. BLO had $8.2 million left in cash at end of June so they have burned up a bit with Beibu, Makino and now Huinga but still have plenty left for forthcoming commitments. You never know they may still try for those Tariki Sands west of Makino and Huinga which were their original objectives and which still lie within BLO's acreage. Long testing time on Huinga suggests to me that they have something really serious there. I gather the betting is that the Murihiku fractures are vertically and discretely connected to the Kapuni Sands, a situation one person close to the action described as the "oil man's dream". Good to see the shares making a recovery on reasonable volume. JBC
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