Seriously saying when I bought BKP at $0.005 I didn't know it too much as that when I bought FDL, PRR, IAU, SSN, AZZ, LEG, VCR, and so on. However once some of them became falling knifes or new swan corresponding to my paid price, I would do more work on them. Why? It is my belief that once something is shot up into the sky or thrown into the hell, there are some fundamental causes to drive it. SSN and AZZ let me know the shale oil and gas, and Bakken basin. Now I know Australia has the area similar to Bakken where BKP is playing. Although the future events are the decisive forces for all of market swans and fishes, the history is valuable to get the insight and could give us some clues where some fall down onto the ground and some shoot up to the sky and never come back to the rocket launching stations where we hope them could take us to the sky. It is time to know BKP's history in some depth! *** BKP was incorporated on 11 February 2005 in Australia. It listed on the ASX on 25 May 2005 and was involved in oil and gas exploration in Mauritania. Tenements were relinquished in Mauritania in 2009. It was very bad 4 years and destroyed 99% of the value for its shareholders the. A true falling knife as my IMI does now! These shareholders have all of the right curse BKP even now or maybe when BKP would get the shale oil in huge size. Something if gone are just gone. Crying or cursing make us fell better but that is all! *** However BKP and actually all of mining minnows are venture explorers in the future uncertainties and market turbulence for their own legends! Why do you come to the market? Why don't you come to the office and then happy to get the salaries only but spend your time here? We are sort of dreamers for something we could not get in the offices and workshops. In mid-2009, a newly appointed board lodged a prospectus for a capital raising of $2 million as well as signing a farm-in agreement with Northern Territory Oil to earn 75% of Exploration Permit 127 (EP 127) and Exploration Permit 128 (EP 128) in the Georgina Basin, onshore Australia. 1. EP 127 comprises an area of 15,780 square kilometres and EP 128 comprises of 15,970 square kilometres and are two granted exploration permits. 2. EP 127 and EP 128 cover 7.4 million acres (31,750 square kilometres) in the south central part of the Northern Territory, to the south east of Tennant Creek and the north east of Alice Springs. EP 127 is 50 kilometres north of the Plenty Highway. EP 128 follows the path of the Sandover Highway, an all weather road. 3. Baraka’s acreage partially surrounds PetroFrontiers Corp. (TSX-V: PFC) EP 103, and EP 104, and together all four permits cover 13.6 million acres over a very large, unconventional oil and gas exploration play. Could you see it is a story about rebirth? Australia market is a place for minnows since it is the tradition of mining industries due to its high-risk and high return future. Do you know something about Andrew Forrest and FMG? Andrew failed in Anaconda Nickel Ltd and were thrown away by its biggest shareholder then. To understand the minnows and how they become swans you need to read http://www.fmgl.com.au/IRM/Company/ShowPage.aspx?CPID=1226. Don't criticize others too much but think how could you get some good ideas and insights from them. *** Recent Georgina Basin transaction history In April 2010, AEC, an unlisted company entered into an agreement with Baraka, to farm-in for a 50% working interest and operatorship in EP 127 and EP 128. In December 2010, AEC acquired an additional 25% interest in these blocks from Northern Territory Oil for $2 million in cash and securities. Under the agreement, AEC has to commence drilling one well on either EP 127 or EP 128 and is to be drilled to completion to a minimum of 500 metres of horizontal drilling into the Basel Arthur Creek “Hot Shale”. In November 2010, AEC obtained a Ryder Scott Petroleum Consultants resource evaluation that estimated unrisked, prospective oil resources to be 27.5 billion barrels (P50, gross acreage) from both unconventional and conventional targets in the Georgina Basin permits. *** After this agreement, Baraka owned a 25% interest in the two exploration permits (EP 127 and EP 128) as well as a 75% interest over 18,533 acres that form a 5 kilometre radius around the previously drilled Elkedra-7 well, which produced hydrocarbon shows in the past. PetroFrontier resulted from the merger of AEC and Pendulum Capital Corporation in October 2010 and owns a 75% interest in EP 127 and EP 128 as well as 50% interests in EP 103 and EP 104. Adding spice to the resurgent exploration interest in the Basin, PetroFrontier undertook a public offering in January 2011 by way of a Reverse Takeover and raised C$58.5 million at C$2.00 per share. PetroFrontier has further attempted to consolidate ownership of exploration permits in the Georgina Basin with a proposal in March 2011 to acquire another Canadian listed company Texalta Petroleum (TSX-V:TEX.A) which owns a 50% interest in EP 103 and EP 104. This will consolidate 100% ownership by PetroFrontier in EP 103 and EP 104 (removing a drilling “roadblock”) which are adjacent to EP 127 and EP 128 where Baraka holds a 25% working interest in each permit. Net proceeds of the public offering by PetroFrontier will fund its six-well exploration program into second half of 2011, and the acquisition of up to approximately 1,000 kilometres of additional 2D seismic. *** In March 2011, Baraka changed its name to Baraka Energy & Resources Ltd. The principal activities of Baraka are the exploration and development of oil and gas assets, with initial focus on the Georgina Basin in the Northern Territory. However, these activities may be extended into other energy and resource projects as Baraka is currently assessing a number of potential new projects to diversify their assets. (wdongli: strategically and logically it should try to get some profit generation asset to use its tax losses and diversify it for a balanced and stable future exploration as I try for my asset portfolio).