I am not sure why but there are two ASX annoucements missed here in HotCopper:-
a) Quarterly Cash Flow Report
b) Quarterly Acitivites Report
Of which, both are price sensitive!
According to the activities report:- The Company has entered into a mandate with investment bank firm, Kariba Capital, through Trump Securities, Inc. ("Kariba") to pursue funding in order to progress its Nebraska Oil Project within Banner County, South Western Nebraska. Funding currently being sought will be utilised to commercialise the Niobrara oil discovery, with initial production anticipated soon after funding is concluded.
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MARCH 2015 QUARTERLY UPDATE Black Star Petroleum Limited ("BSP" or "the Company") is pleased to report on its activities for the March quarter. The Company has entered into a mandate with investment bank firm, Kariba Capital, through Trump Securities, Inc. ("Kariba") to pursue funding in order to progress its Nebraska Oil Project within Banner County, South Western Nebraska. Funding currently being sought will be utilised to commercialise the Niobrara oil discovery, with initial production anticipated soon after funding is concluded. Kariba will be paid fees consistent with such a mandate. The Company has also initiated the process to relinquish its tenements held in Queensland Australia. About Black Star Black Star has approximately 40,000 acres in Banner County, Nebraska USA under the Joint Venture with Bayswater Exploration where it is targeting oil production in the prolific Niobrara and Codell Formations. The Nebraska Oil Project represents outstanding potential for growth through both vertical and horizontal fracture stimulated wells. Greg Wood Chief Executive Officer BLACK STAR PETROLEUM LIMITED
BSP Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held