BPI Industries Ltd (BPR-VSE) Message Board

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Gold/Mining/Energy : BPI Industries Ltd (BPR-VSE)

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To: Ron Struthers who wrote (327)	5/20/2001 9:28:36 PM
From: Ed Ajootian	Read Replies (1) of 355

Ron, Hopefully we'll find out what they decided to do about this soon. In the interest of kindling some more discussion on what is presently one of my favorite stocks, I've copied below a post I made earlier today on the Stockhouse BPR board. It sure would be nice to hear from other BPR fans here (other than my buddy Eliz of course!). This company needs to get financing before they can do any more work on the property. I would prefer that they do not try to get financing right now, but first re-structure their joint venture and announce the results of a petroleum engineer's study on the property. This sequence of events will be slower than if they did a financing now, but we will get diluted less since the stock price will be higher when we go for the financing. You have to make a tough decision at this point. Do you wait for more confirmation that they are on track or do you buy now? The cost of waiting is the big unknown. I would venture to guess that this cost will approximate a buck. That is, the stock should be at around $3.50 once they announce that they have the financing lined up and they are ready to start drilling again. So then the question becomes, is it worth a buck for the added certainty of more positive news on this project? You make the call. I have already answered that question negatively myself. I don't usually pay much attention to technical indicators, but the On Balance Volume just blasted up to a 5-year high for BPR. Take a look here: stockhouse.com. Now, let's put this stat in context of news flow. We have a company which put out some significant news a month & a half ago, and which followed that up with more positive news about a week ago. We have rumors and expectations of more positive news to come. We have no wells being drilled so there is no chance of mother nature getting in the way to screw up the party. The cross they did for 120,000 shares last week was more than likely some institution that wanted to get a position and the company apparently was able to hoodwink one of its shareholders into parting with the block so as to get the stock into friendly hands. Imagine what would have happened if someone tried to buy that many shares on the open market! And with all this as a backdrop we have the On Balance Volume start to go idiotic over the last week or so, for the first time in 5 years. You draw your own conclusions from that. I conclude that this stock is primed for an upside breakout on the next round of good news.

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