BEAU Canada (T/M BAU) Message Board

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Gold/Mining/Energy : BEAU Canada (T/M BAU)

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To: Gilbert Drapeau who wrote (43)	4/28/2000 12:59:00 AM
From: Cal Gary	of 57

Hi Gilbert. 2 news items for the price of 1. You seem to be the lone ranger posting on this thread recently. In response to several unsolicited proposals received by the Company over the last several months, the Special Committee of the Board of Directors of Beau Canada has recommended to the Board of Directors that the Company commence a process to explore strategic alternatives designed to maximize shareholder value. Sounds serious: Several unsolicited proposals. Some things on the table. Special Committee. Must have meet at least once, prob more. Recommendation being acted on. Sale of assets, or sale of company shares, other strategic alternative. Data room already for viewing. List of people organized to answer questions about process. AGM slated for May 30, postponed. And by the way, the Slave Point gas discovery in the Ladyfern: completed and tested at about 31mmcf/d on-line at 45mmcf/d expected to produce 60mmcf/d!! Big well! land position secured more wells to come from this area. Mobil and Apache partners. Doesn't sound like a company up against the wall, especially operationally. Year end finances look okay. Sounds like pressure from within to make good on shareholder value. Perhaps the vulture fund owning 10.1% of the o/s has something to do with this. Any financial, or operational you know of? What are your thoughts? Thanks.

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