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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Madharry who wrote (91126)	9/25/2007 5:22:40 PM
From: Ed Ajootian	Read Replies (2) of 206131

Madharry, BPZ Energy (BZP) -- I'd tend to agree, on all your comments. But I have a hunch that some of the shorts jumped back into this in these last coupla days. If you thought the stock was overvalued at $5.70 why wouldn't you short it at $7.50? Finally we won't have to wait a whole month to get the next short interest data -- the Amex has just gone onto a bi-monthly schedule and the next date that short interest will be out is 10/4, showing short interest with trade dates through today. The other thing that obviously must be going on here is profit-taking. A lot of bottom fishers no doubt bought this in the dip down to the low 4's and felt compelled to take profits now that they made 50% in around a month or so; who can blame them. I have half a mind to buy back some shares I had sold in my retirement accounts in the past few weeks, but have not pulled the trigger yet. Regarding a take-out, development stage E&P companies rarely are taken out, usually because the buyer can't justify paying the huge amount that would be necessary to pay for the "blue sky potential" of the target. Its one thing for you, me & the rest of us retail slobs to put a half billion $$ market cap on this turkey, but pretend you're a CEO of another oil company and you are trying to justify why they should approve your proposal to bid on BPZ Energy. "You want to pay 3/4ths of a billion $$$ for it and they have ZERO proved reserves????" Granted, BPZ is just weeks away from getting assigned some SEC proved reserves, but I'm not expecting the value of those to even approach the total current market cap of the company -- the market is also giving value to their probable and possible reserves, as I believe it should.

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