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Gold/Mining/Energy : Canadian Oil & Gas Companies

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To: The Osprey who wrote (9032)	4/24/2002 12:39:16 PM
From: Kerm Yerman	Read Replies (3) of 24918

OSPREY / Osprey Energy Not meaning to step on anyone's shoes, I have a couple of questions regarding Osprey. What happened to the well that the company was excited about late last year - the one that flowed 500 bbl's/d. Second, what's the story in the Alberta Project. The company participated in a 3D review of the acreage. Who are they involved with in this venture and what are the terms of the venture at this point. If they paid partial payment, there must be a definitive agreement in place. Who has the lead in negotiating farm outs, etc. It appears to me that BPR Energy is reaping huge rewards in dealing with Osprey. Osprey just appointed BPR's president to head Osprey. What's your thinking on this. How large is BPR Energy and what is their full extent of holdings in La. Has anyone truly evaluated the cost of these acquisitions to Osprey. There is also a BPR Holdings which probably controls BPR Energy. This is where I would focus a little attention to help identify who we're dealing with. In regards to the negative comments made by others. Let me attempt to explain what was behind the comments. I'll start with the bottom line - sentiment is that this is a typical "Vancouver" promoted vehicle. You mentioned "PR Guy" for the company - that's an alarm mechanism for most experienced investors. The newsletter referenced as analyst type information just might be a marketing vehicle to promote the company. In other words, they're paid to promote awareness of the company - another alarm type thing. The last referenced newsletter at the company's website starts out with; "A visit to the headquarters of Osprey Energy confirms that we have a rather unique junior resources company of great potential before us." "Osprey’s headquarters is unassuming and understated, more like a home than the nerve center of one of Canada’s most aggressive and progressive oil and gas development and exploration companies." The newsletter is loaded with this stuff - warning siren again. The company's website is loaded with the same kind of stuff. Seasoned investors see these kind of things and it turns them off. This was the thought behind their comments. I have spoken out in the past on the "Vancover" type investment vehicles and I always concluded with - there are so many legit operations existing on the CDNX which offer the same kind of investment and for real potential return. I have really yet to see a Vancouver type vehicle provide longer term growth while the old type Alberta type vehicle is loaded with success stories. Just my two cents worth on this matter.

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