BPI Industries Ltd (BPR-VSE) Message Board

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

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To: ian dodge who wrote (75)	11/21/1997 2:11:00 PM
From: Keith Utz	Read Replies (1) of 355

ian, I just got off the phone with Curt. Based on his information I need to correct my recent post. BPR WILL need financing to fully develop their methane gas.They plan to raise around 15 million via dept financing. They have already made the decision to GO INTO PRODUCTION. Production testion on 1 well was 300,000 cu. ft. but this was from only 1 zone out of 6 zones found. They now have 14 wells cassed and ready to go. Due to the advanced stage of development they anticipate on problems with financing. Several news releases should be out soon(not necessarly on financing). Curt has talked with all 15 analysts that covered Evergreen and at least one and likely more will be doing a writeup on BPR. Evergreen and BPR have about the same # of shares out but potential reserves are higher with BPR. Evergreen is futher along with 50 wells versus 14 for BPR but even so BPR seems undervalued in comparision. They will have a website within a week or two. In case it sounds like I'm hyping the stock I need to add that I own shares in BPR and that I'm not always right in my investment decisions. Just passing on the information I received FWIW. Keith

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