CC, BPZ Energy (BPZI) -- Great to hear you're onboard, it should be an exciting ride if nothing else!
In addition to the SEC filings and the company presentations on their website, I found the following piece about BPZ from Platt's Oilgram News to be both helpful and fascinating, bpzenergy.com . It goes into the history of how old man Fernando Zuniga and his son Manolo (BPZ founders) got the interest in the block that they are completing this well in (the Z-1 block). In short, it was given to them for nothing by Plains Exploration!! It had been an asset of Nuevo Exploration, and, when Nuevo sold out to Plains, the "not invented here" syndrome took charge and Plains wanted nothing to do with it.
Not sure how effective a strategy it would be to wait until the volume picks up before buying more. This company is very tight-lipped, and has set up some effective "gate-keepers" manning the phones. I used to be able to get Manolo on the phone directly but not any more. So its unlikely that good news would get leaked, at least not to all that many people. So the high likelihood is that the next day there is huge volume in the stock is a day in which there was some blockbuster news that got announced.
Let's say they announce next Tuesday, before market open, that they did a 72 hour DST of the lowest 75 feet of pay, and for the last 24 hours the well produced at a rate of 50 mmcfd. Where do you suppose the stock would open that day? Good luck trying to build a position in that sort of trading environment. |
